Gaming and Leisure Properties (GLPI) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a hold rating to a buy rating in a research report sent to investors on Wednesday. They currently have $38.00 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. “

Several other brokerages have also weighed in on GLPI. SunTrust Banks reiterated a buy rating and set a $39.00 target price on shares of Gaming and Leisure Properties in a research report on Tuesday, October 2nd. ValuEngine upgraded shares of Gaming and Leisure Properties from a sell rating to a hold rating in a research report on Friday, September 28th. Nomura began coverage on shares of Gaming and Leisure Properties in a report on Wednesday, September 26th. They set a neutral rating and a $39.00 price target for the company. BidaskClub raised shares of Gaming and Leisure Properties from a sell rating to a hold rating in a report on Wednesday, December 12th. Finally, Deutsche Bank lifted their price target on shares of Gaming and Leisure Properties from $41.00 to $42.00 and gave the company a buy rating in a report on Wednesday, September 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $39.45.

Shares of Gaming and Leisure Properties stock opened at $34.55 on Wednesday. The company has a current ratio of 10.00, a quick ratio of 10.00 and a debt-to-equity ratio of 2.31. Gaming and Leisure Properties has a twelve month low of $31.19 and a twelve month high of $36.97. The stock has a market cap of $7.29 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 1.17 and a beta of 0.68.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Thursday, November 1st. The real estate investment trust reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.26). Gaming and Leisure Properties had a net margin of 38.95% and a return on equity of 16.10%. The business had revenue of $254.14 million for the quarter, compared to analyst estimates of $255.55 million. During the same quarter last year, the firm posted $0.45 earnings per share. Gaming and Leisure Properties’s revenue was up 3.9% on a year-over-year basis. Research analysts forecast that Gaming and Leisure Properties will post 3.1 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 28th. Shareholders of record on Friday, December 14th were paid a $0.68 dividend. The ex-dividend date of this dividend was Thursday, December 13th. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 7.87%. Gaming and Leisure Properties’s payout ratio is currently 86.35%.

In related news, Director E Scott Urdang bought 14,000 shares of the company’s stock in a transaction on Monday, November 5th. The stock was bought at an average cost of $33.72 per share, with a total value of $472,080.00. Following the completion of the purchase, the director now owns 76,971 shares in the company, valued at approximately $2,595,462.12. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph W. Marshall III bought 1,000 shares of the company’s stock in a transaction on Monday, November 19th. The stock was bought at an average cost of $33.33 per share, with a total value of $33,330.00. Following the completion of the purchase, the director now owns 27,081 shares of the company’s stock, valued at approximately $902,609.73. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 31,000 shares of company stock valued at $1,045,260. Insiders own 5.88% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in GLPI. Schroder Investment Management Group raised its stake in shares of Gaming and Leisure Properties by 1.4% during the third quarter. Schroder Investment Management Group now owns 112,560 shares of the real estate investment trust’s stock worth $3,968,000 after buying an additional 1,548 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Gaming and Leisure Properties by 1.9% during the fourth quarter. State of Alaska Department of Revenue now owns 88,910 shares of the real estate investment trust’s stock worth $2,871,000 after buying an additional 1,638 shares during the last quarter. Signition LP raised its stake in shares of Gaming and Leisure Properties by 18.6% during the third quarter. Signition LP now owns 10,686 shares of the real estate investment trust’s stock worth $377,000 after buying an additional 1,677 shares during the last quarter. Hilltop Holdings Inc. raised its stake in shares of Gaming and Leisure Properties by 28.8% during the second quarter. Hilltop Holdings Inc. now owns 8,073 shares of the real estate investment trust’s stock worth $289,000 after buying an additional 1,803 shares during the last quarter. Finally, Baird Financial Group Inc. raised its stake in shares of Gaming and Leisure Properties by 20.1% during the third quarter. Baird Financial Group Inc. now owns 12,508 shares of the real estate investment trust’s stock worth $440,000 after buying an additional 2,097 shares during the last quarter. 87.08% 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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