Gaming and Leisure Properties (GLPI) Cut to Buy at BidaskClub

BidaskClub lowered shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a strong-buy rating to a buy rating in a research report released on Friday morning, BidAskClub reports.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus upgraded shares of Gaming and Leisure Properties from a hold rating to a buy rating and lifted their price objective for the company from $39.00 to $43.00 in a research report on Monday, April 15th. Zacks Investment Research upgraded shares of Gaming and Leisure Properties from a hold rating to a buy rating and set a $39.00 price objective on the stock in a research report on Thursday, January 17th. Deutsche Bank reiterated a buy rating and set a $47.00 price objective on shares of Gaming and Leisure Properties in a research report on Sunday, May 12th. Finally, Credit Suisse Group reiterated an outperform rating and set a $41.00 price objective on shares of Gaming and Leisure Properties in a research report on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $41.70.

Gaming and Leisure Properties stock opened at $39.79 on Friday. The company has a market cap of $8.54 billion, a PE ratio of 12.51, a P/E/G ratio of 0.95 and a beta of 0.56. The company has a current ratio of 2.99, a quick ratio of 2.99 and a debt-to-equity ratio of 2.72. Gaming and Leisure Properties has a 1 year low of $31.19 and a 1 year high of $40.69.

In other Gaming and Leisure Properties news, SVP Matthew Demchyk bought 4,000 shares of the business’s stock in a transaction that occurred on 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 completion of the acquisition, the senior vice president now owns 37,500 shares in the company, valued at approximately $1,368,750. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Desiree A. Burke sold 41,458 shares of the firm’s stock in a transaction 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 completion of 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. Company insiders own 5.88% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Vista Investment Management boosted its stake in Gaming and Leisure Properties by 7.0% during the first quarter. Vista Investment Management now owns 13,956 shares of the real estate investment trust’s stock worth $538,000 after buying an additional 908 shares during the period. BlueCrest Capital Management Ltd purchased a new position in Gaming and Leisure Properties during the first quarter worth $1,185,000. HighTower Advisors LLC purchased a new position in Gaming and Leisure Properties during the first quarter worth $248,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Gaming and Leisure Properties by 14.7% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 17,142 shares of the real estate investment trust’s stock valued at $647,000 after purchasing an additional 2,192 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in shares of Gaming and Leisure Properties by 26.1% during the first quarter. Macquarie Group Ltd. now owns 144,981 shares of the real estate investment trust’s stock valued at $5,592,000 after purchasing an additional 29,981 shares during the period. 90.67% of the stock is owned by hedge funds and other institutional investors.

About Gaming and Leisure Properties

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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