Gaming and Leisure Properties (GLPI) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a hold rating to a strong-buy rating in a research report released on Thursday, Zacks.com reports. The brokerage currently has $45.00 price objective on the real estate investment trust’s stock.

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. “

Other equities research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Gaming and Leisure Properties from a strong-buy rating to a buy rating in a research report on Thursday, February 14th. Stifel Nicolaus raised shares of Gaming and Leisure Properties from a hold rating to a buy rating and upped their price objective for the stock from $39.00 to $43.00 in a research report on Monday, April 15th. Finally, Credit Suisse Group reaffirmed an outperform rating and issued a $41.00 price objective on shares of Gaming and Leisure Properties in a research report on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $41.20.

Shares of GLPI stock opened at $39.84 on Thursday. Gaming and Leisure Properties has a 52-week low of $31.19 and a 52-week high of $39.99. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 2.58. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 0.93 and a beta of 0.55.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Wednesday, February 13th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.02. Gaming and Leisure Properties had a net margin of 32.16% and a return on equity of 14.42%. The business had revenue of $303.30 million during the quarter, compared to the consensus estimate of $306.12 million. During the same period in the prior year, the firm posted $0.55 EPS. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, equities analysts expect that Gaming and Leisure Properties will post 3.36 EPS for the current year.

In related news, SVP Matthew Demchyk bought 4,000 shares of Gaming and Leisure Properties stock in a transaction dated Thursday, February 28th. The stock was purchased at an average cost of $36.50 per share, with a total value of $146,000.00. Following the transaction, the senior vice president now directly owns 37,500 shares of the company’s stock, valued at $1,368,750. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Desiree A. Burke sold 41,458 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $39.06, for a total transaction of $1,619,349.48. Following the transaction, the chief accounting officer now directly owns 119,264 shares of the company’s stock, valued at $4,658,451.84. The disclosure for this sale can be found here. 5.88% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLPI. Parallel Advisors LLC boosted its holdings in Gaming and Leisure Properties by 50.6% in the 4th quarter. Parallel Advisors LLC now owns 905 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 304 shares during the period. We Are One Seven LLC bought a new position in Gaming and Leisure Properties in the 4th quarter worth approximately $31,000. Ffcm LLC boosted its holdings in Gaming and Leisure Properties by 72.4% in the 4th quarter. Ffcm LLC now owns 1,141 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 479 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in Gaming and Leisure Properties by 43.4% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,434 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 434 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in Gaming and Leisure Properties by 50.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,787 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 602 shares during the period. 88.22% of the stock is owned by institutional investors.

Gaming and Leisure Properties Company Profile

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.

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