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

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BidaskClub downgraded shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a strong-buy rating to a buy rating in a research note published on Thursday, BidAskClub reports.

A number of other equities research analysts also recently issued reports on GLPI. Nomura increased their price objective on Gaming and Leisure Properties from $29.00 to $38.00 in a research report on Thursday, June 25th. Morgan Stanley reduced their target price on Gaming and Leisure Properties from $33.00 to $32.41 and set an overweight rating on the stock in a research note on Tuesday, May 12th. Zacks Investment Research raised Gaming and Leisure Properties from a hold rating to a buy rating and set a $41.00 target price on the stock in a research note on Tuesday, June 23rd. TheStreet raised Gaming and Leisure Properties from a c rating to a b- rating in a research note on Tuesday, June 9th. Finally, Nomura Securities raised Gaming and Leisure Properties from a neutral rating to a buy rating and reduced their target price for the company from $45.00 to $29.00 in a research note on Wednesday, March 25th. One analyst has rated the stock with a sell rating and eleven have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $39.64.

Shares of GLPI stock opened at $32.97 on Thursday. The company has a debt-to-equity ratio of 3.20, a quick ratio of 9.92 and a current ratio of 9.92. Gaming and Leisure Properties has a 52-week low of $12.78 and a 52-week high of $49.99. The company has a market capitalization of $7.09 billion, a PE ratio of 9.47, a price-to-earnings-growth ratio of 1.70 and a beta of 0.99. The business’s fifty day moving average is $36.25 and its 200 day moving average is $36.61.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.40). Gaming and Leisure Properties had a return on equity of 18.91% and a net margin of 34.35%. The business had revenue of $283.50 million during the quarter, compared to analysts’ expectations of $283.61 million. During the same quarter last year, the business posted $0.85 EPS. The company’s quarterly revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts forecast that Gaming and Leisure Properties will post 3.2 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Wednesday, May 13th were paid a dividend of $0.60 per share. The ex-dividend date was Tuesday, May 12th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 7.28%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 13.95%.

Several large investors have recently made changes to their positions in GLPI. Envestnet Asset Management Inc. grew its stake in shares of Gaming and Leisure Properties by 8.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 115,091 shares of the real estate investment trust’s stock valued at $4,955,000 after buying an additional 9,142 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Gaming and Leisure Properties by 14.2% during the fourth quarter. Great West Life Assurance Co. Can now owns 19,255 shares of the real estate investment trust’s stock valued at $822,000 after buying an additional 2,398 shares during the last quarter. Pictet Asset Management Ltd. grew its stake in shares of Gaming and Leisure Properties by 4.6% during the fourth quarter. Pictet Asset Management Ltd. now owns 43,100 shares of the real estate investment trust’s stock valued at $1,855,000 after buying an additional 1,900 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Gaming and Leisure Properties by 3.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 81,136 shares of the real estate investment trust’s stock valued at $3,493,000 after buying an additional 2,609 shares during the last quarter. Finally, Raymond James & Associates grew its stake in shares of Gaming and Leisure Properties by 3.5% during the fourth quarter. Raymond James & Associates now owns 53,924 shares of the real estate investment trust’s stock valued at $2,321,000 after buying an additional 1,842 shares during the last quarter. 86.95% 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.

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

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