Nomura Initiates Coverage on Gaming and Leisure Properties (GLPI)

Nomura assumed coverage on shares of Gaming and Leisure Properties (NASDAQ:GLPI) in a research report released on Wednesday, MarketBeat reports. The firm issued a neutral rating and a $39.00 price objective on the real estate investment trust’s stock.

A number of other brokerages have also recently issued reports on GLPI. Zacks Investment Research cut Gaming and Leisure Properties from a buy rating to a hold rating in a research note on Wednesday, June 27th. Morgan Stanley upgraded Gaming and Leisure Properties from an equal rating to a weight rating and set a $37.00 price objective on the stock in a research note on Tuesday, July 24th. Barclays lowered their price objective on Gaming and Leisure Properties from $46.00 to $45.00 and set an overweight rating on the stock in a research note on Thursday, July 12th. BidaskClub lowered Gaming and Leisure Properties from a buy rating to a hold rating in a report on Wednesday, July 11th. Finally, ValuEngine lowered Gaming and Leisure Properties from a hold rating to a sell rating in a report on Friday, August 3rd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Gaming and Leisure Properties has an average rating of Hold and an average target price of $39.30.

Shares of Gaming and Leisure Properties stock opened at $34.87 on Wednesday. Gaming and Leisure Properties has a 52-week low of $32.51 and a 52-week high of $37.32. The stock has a market capitalization of $7.33 billion, a P/E ratio of 11.07, a PEG ratio of 1.04 and a beta of 0.77. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.89.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.34). Gaming and Leisure Properties had a net margin of 38.54% and a return on equity of 15.56%. The firm had revenue of $254.22 million during the quarter, compared to the consensus estimate of $254.40 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. sell-side analysts forecast that Gaming and Leisure Properties will post 3.07 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Stockholders of record on Friday, September 7th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 7.23%. The ex-dividend date of this dividend was Thursday, September 6th. Gaming and Leisure Properties’s payout ratio is 80.00%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Gaming and Leisure Properties by 2.7% during the second quarter. BlackRock Inc. now owns 14,682,501 shares of the real estate investment trust’s stock worth $525,634,000 after purchasing an additional 388,519 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Gaming and Leisure Properties by 14.9% during the second quarter. Renaissance Technologies LLC now owns 9,056,089 shares of the real estate investment trust’s stock worth $324,208,000 after purchasing an additional 1,174,600 shares in the last quarter. FMR LLC grew its holdings in shares of Gaming and Leisure Properties by 20.3% during the second quarter. FMR LLC now owns 5,365,666 shares of the real estate investment trust’s stock worth $192,091,000 after purchasing an additional 905,752 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Gaming and Leisure Properties by 23.3% during the second quarter. Millennium Management LLC now owns 3,084,735 shares of the real estate investment trust’s stock worth $110,434,000 after purchasing an additional 582,081 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Gaming and Leisure Properties by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,996,233 shares of the real estate investment trust’s stock worth $107,266,000 after purchasing an additional 47,572 shares in the last quarter. 87.19% of the stock is owned by institutional investors.

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

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