Zacks Investment Research Downgrades Gaming and Leisure Properties (NASDAQ:GLPI) to Sell

Gaming and Leisure Properties (NASDAQ:GLPI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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 equities analysts have also recently weighed in on the company. Deutsche Bank reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Gaming and Leisure Properties in a report on Sunday, May 12th. BidaskClub raised Gaming and Leisure Properties from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 31st. Nomura set a $42.00 price objective on Gaming and Leisure Properties and gave the company a “hold” rating in a report on Wednesday, August 7th. Stifel Nicolaus raised 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 report on Monday, April 15th. Finally, Scotiabank started coverage on Gaming and Leisure Properties in a report on Monday, July 29th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Gaming and Leisure Properties currently has an average rating of “Hold” and a consensus price target of $43.00.

NASDAQ GLPI traded up $0.11 during midday trading on Monday, hitting $37.84. The company had a trading volume of 700,505 shares, compared to its average volume of 1,228,549. The stock has a market cap of $8.12 billion, a P/E ratio of 11.90, a PEG ratio of 1.23 and a beta of 0.53. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 2.72. The business has a 50-day moving average of $38.47. Gaming and Leisure Properties has a twelve month low of $31.19 and a twelve month high of $40.82.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.33). The company had revenue of $289.01 million during the quarter, compared to analyst estimates of $289.64 million. Gaming and Leisure Properties had a net margin of 29.69% and a return on equity of 14.79%. Gaming and Leisure Properties’s revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 earnings per share. As a group, equities analysts predict that Gaming and Leisure Properties will post 3.33 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in Gaming and Leisure Properties by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,077,424 shares of the real estate investment trust’s stock valued at $99,432,000 after buying an additional 10,015 shares in the last quarter. Geode Capital Management LLC lifted its position in Gaming and Leisure Properties by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 2,989,909 shares of the real estate investment trust’s stock valued at $96,603,000 after buying an additional 55,706 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Gaming and Leisure Properties by 2.4% during the first quarter. State of Alaska Department of Revenue now owns 91,018 shares of the real estate investment trust’s stock valued at $3,507,000 after buying an additional 2,108 shares in the last quarter. Gateway Investment Advisers LLC lifted its position in Gaming and Leisure Properties by 8.3% during the first quarter. Gateway Investment Advisers LLC now owns 6,732 shares of the real estate investment trust’s stock valued at $260,000 after buying an additional 514 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Gaming and Leisure Properties during the first quarter valued at approximately $647,000. 89.86% of the stock is owned by 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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