Gaming and Leisure Properties (GLPI) Upgraded to Buy at BidaskClub

Gaming and Leisure Properties (NASDAQ:GLPI) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Monday, February 11th. Barclays upped their price target on shares of Gaming and Leisure Properties from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, November 19th. Finally, Jefferies Financial Group reduced their price target on shares of Gaming and Leisure Properties from $41.00 to $37.00 and set a “hold” rating for the company in a report on Friday, November 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Gaming and Leisure Properties has a consensus rating of “Hold” and an average price target of $39.90.

Shares of NASDAQ GLPI opened at $36.99 on Wednesday. The company has a market cap of $7.93 billion, a P/E ratio of 11.63, a PEG ratio of 1.33 and a beta of 0.54. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 2.58. Gaming and Leisure Properties has a 52-week low of $31.19 and a 52-week high of $38.28.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Wednesday, February 13th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.02. The firm had revenue of $303.30 million during the quarter, compared to analysts’ expectations of $306.12 million. Gaming and Leisure Properties had a net margin of 32.16% and a return on equity of 14.42%. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 earnings per share. As a group, equities research analysts predict that Gaming and Leisure Properties will post 3.36 earnings per share for the current year.

In related news, SVP Matthew Demchyk purchased 4,000 shares of Gaming and Leisure Properties stock in a transaction dated Thursday, February 28th. The stock was bought at an average price of $36.50 per share, for a total transaction of $146,000.00. Following the completion of the acquisition, the senior vice president now directly owns 37,500 shares of the company’s stock, valued at $1,368,750. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 5.88% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG boosted its holdings in shares of Gaming and Leisure Properties by 13.3% in the third quarter. Deutsche Bank AG now owns 693,192 shares of the real estate investment trust’s stock valued at $24,431,000 after buying an additional 81,558 shares during the period. PGGM Investments bought a new stake in shares of Gaming and Leisure Properties in the fourth quarter worth $144,296,000. Zimmer Partners LP lifted its position in shares of Gaming and Leisure Properties by 122.7% in the third quarter. Zimmer Partners LP now owns 360,717 shares of the real estate investment trust’s stock worth $12,715,000 after purchasing an additional 198,707 shares in the last quarter. BlackRock Inc. lifted its position in shares of Gaming and Leisure Properties by 2.4% in the third quarter. BlackRock Inc. now owns 15,037,257 shares of the real estate investment trust’s stock worth $530,065,000 after purchasing an additional 354,756 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Gaming and Leisure Properties by 356.1% in the third quarter. Marshall Wace LLP now owns 1,989,462 shares of the real estate investment trust’s stock worth $70,129,000 after purchasing an additional 1,553,298 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

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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