Gaming and Leisure Properties (NASDAQ:GLPI) Downgraded to “Sell” at Zacks Investment Research

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 Thursday, 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. “

GLPI has been the topic of several other research reports. Deutsche Bank restated a “buy” rating and set a $47.00 price target on shares of Gaming and Leisure Properties in a research report on Sunday, May 12th. Scotiabank started coverage on shares of Gaming and Leisure Properties in a research report on Monday, July 29th. They set an “outperform” rating on the stock. Nomura set a $42.00 price target on shares of Gaming and Leisure Properties and gave the company a “hold” rating in a research report on Wednesday, August 7th. BidaskClub upgraded shares of Gaming and Leisure Properties from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley set a $47.00 price target on shares of Gaming and Leisure Properties and gave the company a “buy” rating in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $43.22.

GLPI stock traded up $0.72 during midday trading on Thursday, hitting $38.42. 1,458,230 shares of the stock traded hands, compared to its average volume of 1,222,268. The firm has a market cap of $8.10 billion, a P/E ratio of 12.08, a PEG ratio of 1.25 and a beta of 0.53. The company has a debt-to-equity ratio of 2.78, a current ratio of 4.80 and a quick ratio of 4.80. The stock’s fifty day simple moving average is $38.17 and its 200-day simple moving average is $38.58. Gaming and Leisure Properties has a 1-year low of $31.19 and a 1-year high of $40.82.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.33). The firm had revenue of $289.01 million for 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 14.98%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 EPS. On average, research analysts predict that Gaming and Leisure Properties will post 3.33 earnings per share for the current year.

In related news, SVP Matthew Demchyk acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were acquired at an average cost of $37.57 per share, with a total value of $187,850.00. Following the completion of the acquisition, the senior vice president now directly owns 42,500 shares in the company, valued at approximately $1,596,725. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 6.05% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of GLPI. Signaturefd LLC lifted its stake in shares of Gaming and Leisure Properties by 100.3% in the first quarter. Signaturefd LLC now owns 721 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 361 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Gaming and Leisure Properties by 39.9% during the first quarter. Quadrant Capital Group LLC now owns 988 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 282 shares during the last quarter. MUFG Americas Holdings Corp acquired a new stake in shares of Gaming and Leisure Properties during the second quarter valued at about $38,000. DekaBank Deutsche Girozentrale increased its position in shares of Gaming and Leisure Properties by 237.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 2,616 shares of the real estate investment trust’s stock valued at $101,000 after acquiring an additional 1,840 shares during the last quarter. Finally, Altshuler Shaham Ltd increased its position in shares of Gaming and Leisure Properties by 122.2% during the second quarter. Altshuler Shaham Ltd now owns 2,682 shares of the real estate investment trust’s stock valued at $105,000 after acquiring an additional 1,475 shares during the last quarter. 89.35% of the stock is currently owned by institutional investors and hedge funds.

Gaming and Leisure Properties Company Profile

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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