Gaming and Leisure Properties (NASDAQ:GLPI) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a buy rating to a hold rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Gaming and Leisure Properties, Inc. is a self-administered, self-managed REIT primarily engaged in the property business, which will consist of owning, acquiring, developing, expanding, managing, and leasing gaming and related facilities. Gaming and Leisure Properties, Inc. is based in United States. “

A number of other equities analysts also recently commented on GLPI. Mizuho upped their target price on Gaming and Leisure Properties from $50.00 to $52.00 and gave the company a buy rating in a report on Thursday, August 5th. KeyCorp boosted their price target on shares of Gaming and Leisure Properties from $48.00 to $52.00 and gave the company an overweight rating in a research report on Monday, June 7th. Wolfe Research assumed coverage on shares of Gaming and Leisure Properties in a report on Monday, June 14th. They issued a peer perform rating and a $52.00 price objective for the company. UBS Group upgraded Gaming and Leisure Properties from a neutral rating to a buy rating and upped their target price for the stock from $42.00 to $54.00 in a report on Wednesday, August 4th. Finally, Capital One Financial assumed coverage on Gaming and Leisure Properties in a report on Thursday, September 2nd. They issued an overweight rating and a $54.00 price objective for the company. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Gaming and Leisure Properties has a consensus rating of Buy and a consensus price target of $50.67.

Shares of Gaming and Leisure Properties stock opened at $46.99 on Tuesday. The company’s fifty day simple moving average is $48.05 and its two-hundred day simple moving average is $46.28. Gaming and Leisure Properties has a 12-month low of $35.10 and a 12-month high of $51.46. The firm has a market cap of $11.01 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 4.21 and a beta of 1.01. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 2.13.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Thursday, July 29th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.01). Gaming and Leisure Properties had a return on equity of 21.96% and a net margin of 45.79%. As a group, sell-side analysts expect that Gaming and Leisure Properties will post 3.36 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 24th. Shareholders of record on Friday, September 10th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date is Thursday, September 9th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 77.68%.

In other news, EVP Brandon John Moore sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $50.02, for a total transaction of $500,200.00. Following the completion of the transaction, the executive vice president now directly owns 156,502 shares of the company’s stock, valued at $7,828,230.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.53% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Parisi Gray Wealth Management purchased a new stake in shares of Gaming and Leisure Properties during the 2nd quarter valued at about $26,000. GeoWealth Management LLC bought a new position in Gaming and Leisure Properties in the second quarter worth approximately $29,000. FFT Wealth Management LLC purchased a new position in shares of Gaming and Leisure Properties during the 2nd quarter worth $33,000. First Manhattan Co. purchased a new stake in shares of Gaming and Leisure Properties in the 1st quarter worth $32,000. Finally, PNC Managed Account Solutions Inc. bought a new position in Gaming and Leisure Properties in the 2nd quarter worth $38,000. 88.06% of the stock is currently owned by institutional investors.

About Gaming and Leisure Properties

Gaming & Leisure Properties, Inc is engaged in acquiring, financing, and owning real estate property to be leased to gaming operators in triple net lease arrangements. It operates through the GLP Capital and TRS Properties segments. The GLP Capital segment consists of the leased real property and represents the majority of business.

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