Gaming and Leisure Properties (GLPI) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a hold rating to a buy rating in a research note released on Friday morning.

Other research analysts have also issued research reports about the company. Zacks Investment Research raised Gaming and Leisure Properties from a hold rating to a buy rating and set a $38.00 price objective on the stock in a report on Wednesday, May 2nd. Morgan Stanley increased their price objective on Gaming and Leisure Properties from $36.00 to $37.00 and gave the company an equal weight rating in a report on Tuesday, April 17th. ValuEngine lowered Gaming and Leisure Properties from a buy rating to a hold rating in a report on Wednesday, April 4th. Finally, Bank of America increased their price objective on Gaming and Leisure Properties from $31.00 to $32.00 and gave the company an underperform rating in a report on Tuesday, April 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $38.29.

GLPI opened at $35.70 on Friday. Gaming and Leisure Properties has a fifty-two week low of $32.51 and a fifty-two week high of $39.32. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market cap of $7.55 billion, a PE ratio of 11.33 and a beta of 0.80.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Wednesday, April 25th. The real estate investment trust reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.31). Gaming and Leisure Properties had a return on equity of 15.51% and a net margin of 39.42%. The firm had revenue of $244.05 million for the quarter, compared to analysts’ expectations of $249.20 million. During the same period last year, the business earned $0.45 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. research analysts forecast that Gaming and Leisure Properties will post 3.07 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.06%. The ex-dividend date is Thursday, June 14th. Gaming and Leisure Properties’s dividend payout ratio is 80.00%.

In other Gaming and Leisure Properties news, Director E Scott Urdang bought 3,000 shares of the stock in a transaction on Friday, June 8th. The shares were purchased at an average price of $35.32 per share, with a total value of $105,960.00. Following the acquisition, the director now directly owns 62,971 shares of the company’s stock, valued at approximately $2,224,135.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.88% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Mercantile Trust Co. grew its holdings in Gaming and Leisure Properties by 36.6% in the 1st quarter. First Mercantile Trust Co. now owns 5,600 shares of the real estate investment trust’s stock valued at $187,000 after buying an additional 1,500 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in Gaming and Leisure Properties by 46.5% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,290 shares of the real estate investment trust’s stock valued at $196,000 after buying an additional 1,679 shares during the last quarter. Franklin Resources Inc. grew its holdings in Gaming and Leisure Properties by 30.1% in the 4th quarter. Franklin Resources Inc. now owns 9,198 shares of the real estate investment trust’s stock valued at $340,000 after buying an additional 2,126 shares during the last quarter. SG Americas Securities LLC grew its holdings in Gaming and Leisure Properties by 8.9% in the 1st quarter. SG Americas Securities LLC now owns 27,227 shares of the real estate investment trust’s stock valued at $911,000 after buying an additional 2,223 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in Gaming and Leisure Properties by 6.2% in the 4th quarter. Amalgamated Bank now owns 39,073 shares of the real estate investment trust’s stock valued at $1,446,000 after buying an additional 2,279 shares during the last quarter. 88.87% of the stock is currently 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.

Analyst Recommendations for Gaming and Leisure Properties (NASDAQ:GLPI)

Receive News & Ratings for Gaming and Leisure Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gaming and Leisure Properties and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply