Gaming and Leisure Properties (NASDAQ:GLPI) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a report issued on Wednesday, 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 issued reports on the company. UBS Group raised Gaming and Leisure Properties from a "neutral" rating to a "buy" rating and increased their target price for the stock from $42.00 to $54.00 in a research note on Wednesday, August 4th. Mizuho upped their price target on Gaming and Leisure Properties from $50.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, August 5th. Capital One Financial initiated coverage on Gaming and Leisure Properties in a report on Thursday, September 2nd. They set an "overweight" rating and a $54.00 price target on the stock. Wolfe Research initiated coverage on Gaming and Leisure Properties in a report on Monday, June 14th. They set a "peer perform" rating and a $52.00 price target on the stock. Finally, KeyCorp upped their price target on Gaming and Leisure Properties from $48.00 to $52.00 and gave the stock an "overweight" rating in a report on Monday, June 7th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $50.73.
GLPI traded up $0.03 during mid-day trading on Wednesday, hitting $48.20. 703,426 shares of the stock were exchanged, compared to its average volume of 1,011,472. The firm's fifty day moving average is $47.99 and its two-hundred day moving average is $46.16. Gaming and Leisure Properties has a 1-year low of $35.10 and a 1-year high of $51.46. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 2.13. The company has a market cap of $11.29 billion, a PE ratio of 19.67, a PEG ratio of 4.19 and a beta of 1.01.
Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Thursday, July 29th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.60 by ($0.01). Gaming and Leisure Properties had a return on equity of 21.96% and a net margin of 45.79%. As a group, research analysts anticipate that Gaming and Leisure Properties will post 3.36 earnings per share for the current year.
In related news, EVP Brandon John Moore sold 10,000 shares of the company's stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $50.02, for a total value of $500,200.00. Following the completion of the sale, the executive vice president now directly owns 156,502 shares of the company's stock, valued at approximately $7,828,230.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.53% of the company's stock.
Institutional investors have recently bought and sold shares of the business. Parisi Gray Wealth Management acquired a new stake in Gaming and Leisure Properties during the 2nd quarter worth approximately $26,000. GeoWealth Management LLC acquired a new stake in shares of Gaming and Leisure Properties in the 2nd quarter valued at approximately $29,000. First Manhattan Co. acquired a new stake in shares of Gaming and Leisure Properties in the 1st quarter valued at approximately $32,000. FFT Wealth Management LLC acquired a new stake in shares of Gaming and Leisure Properties in the 2nd quarter valued at approximately $33,000. Finally, PNC Managed Account Solutions Inc. acquired a new stake in shares of Gaming and Leisure Properties in the 2nd quarter valued at approximately $38,000. 88.06% of the stock is owned by institutional investors.
Gaming and Leisure Properties Company Profile
Gaming & Leisure Properties, Inc is engaged in acquiring, financing, and owning real estate property to be leased to gaming operators in triple net lease arrangements. It operates through the GLP Capital and TRS Properties segments. The GLP Capital segment consists of the leased real property and represents the majority of business.
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