Gaming and Leisure Properties (NASDAQ:GLPI) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Gaming and Leisure Properties (NASDAQ:GLPI – Get Rating) from a sell rating to a hold rating in a report released on Monday, 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. “

Several other brokerages also recently issued reports on GLPI. StockNews.com downgraded Gaming and Leisure Properties from a buy rating to a hold rating in a report on Friday. Berenberg Bank initiated coverage on Gaming and Leisure Properties in a report on Thursday, January 20th. They set a buy rating and a $54.00 price target for the company. Morgan Stanley cut their price target on Gaming and Leisure Properties from $55.00 to $53.00 and set an overweight rating for the company in a report on Tuesday, January 18th. Mizuho cut their price target on Gaming and Leisure Properties from $56.00 to $47.00 in a report on Thursday, January 20th. Finally, Scotiabank cut Gaming and Leisure Properties from a sector outperform rating to a sector perform rating in a research report on Wednesday, December 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Gaming and Leisure Properties has an average rating of Buy and a consensus price target of $52.43.

NASDAQ GLPI opened at $44.29 on Monday. The company has a market cap of $10.56 billion, a PE ratio of 19.60, a PEG ratio of 9.63 and a beta of 1.05. The company has a current ratio of 5.10, a quick ratio of 5.10 and a debt-to-equity ratio of 1.95. Gaming and Leisure Properties has a 12 month low of $40.71 and a 12 month high of $51.46. The stock has a 50 day moving average of $45.13 and a 200-day moving average of $46.86.

Gaming and Leisure Properties (NASDAQ:GLPI – Get Rating) last announced its quarterly earnings results on Wednesday, February 23rd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.36). Gaming and Leisure Properties had a net margin of 43.91% and a return on equity of 18.33%. The business had revenue of $298.34 million for the quarter, compared to analyst estimates of $295.10 million. During the same period in the prior year, the business earned $0.85 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts predict that Gaming and Leisure Properties will post 3.52 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 25th. Investors of record on Friday, March 11th will be given a $0.69 dividend. The ex-dividend date is Thursday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.23%. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.67. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 118.58%.

In related news, SVP Steven Ladany sold 2,260 shares of the firm’s stock in a transaction dated Thursday, January 6th. The stock was sold at an average price of $47.59, for a total value of $107,553.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director E Scott Urdang acquired 3,000 shares of Gaming and Leisure Properties stock in a transaction that occurred on Wednesday, December 15th. The stock was acquired at an average cost of $45.71 per share, for a total transaction of $137,130.00. The disclosure for this purchase can be found here. Insiders sold 43,976 shares of company stock worth $2,124,025 in the last 90 days. 5.53% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. CI Investments Inc. boosted its stake in Gaming and Leisure Properties by 5.0% in the third quarter. CI Investments Inc. now owns 4,499 shares of the real estate investment trust’s stock valued at $208,000 after buying an additional 216 shares in the last quarter. Huntington National Bank boosted its stake in Gaming and Leisure Properties by 28.0% in the fourth quarter. Huntington National Bank now owns 1,078 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 236 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in Gaming and Leisure Properties by 0.7% in the third quarter. EP Wealth Advisors LLC now owns 41,872 shares of the real estate investment trust’s stock valued at $1,940,000 after buying an additional 296 shares in the last quarter. Pictet Asset Management SA boosted its stake in Gaming and Leisure Properties by 0.4% in the fourth quarter. Pictet Asset Management SA now owns 85,271 shares of the real estate investment trust’s stock valued at $4,149,000 after buying an additional 321 shares in the last quarter. Finally, AdvisorShares Investments LLC boosted its stake in shares of Gaming and Leisure Properties by 1.8% during the fourth quarter. AdvisorShares Investments LLC now owns 21,038 shares of the real estate investment trust’s stock valued at $1,024,000 after purchasing an additional 363 shares in the last quarter. 87.82% of the stock is currently owned by institutional investors and hedge funds.

About Gaming and Leisure Properties (Get Rating)

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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