Gaming and Leisure Properties (NASDAQ:GLPI) Upgraded to Buy at Zacks Investment Research

Gaming and Leisure Properties (NASDAQ:GLPI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The firm presently has a $54.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price target points to a potential upside of 12.10% from the company’s current price.

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 research analysts have also weighed in on the company. Capital One Financial assumed coverage on Gaming and Leisure Properties in a research report on Thursday, September 2nd. They issued an “overweight” rating and a $54.00 target price on the stock. Wolfe Research assumed coverage on Gaming and Leisure Properties in a report on Monday, June 14th. They set a “peer perform” rating and a $52.00 price objective on the stock. KeyCorp increased their price objective on Gaming and Leisure Properties from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, June 7th. Mizuho increased their price objective on Gaming and Leisure Properties from $50.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 5th. Finally, UBS Group raised Gaming and Leisure Properties from a “neutral” rating to a “buy” rating and increased their price objective for the company from $42.00 to $54.00 in a report on Wednesday, August 4th. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Gaming and Leisure Properties has a consensus rating of “Buy” and an average target price of $50.73.

Gaming and Leisure Properties stock traded down $0.09 during mid-day trading on Tuesday, hitting $48.17. The company’s stock had a trading volume of 874,486 shares, compared to its average volume of 1,013,222. The firm’s 50 day moving average is $47.95 and its 200 day moving average is $46.15. The company has a market cap of $11.29 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 4.19 and a beta of 1.01. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.92 and a quick ratio of 1.92. Gaming and Leisure Properties has a 52-week low of $35.10 and a 52-week high of $51.46.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Thursday, July 29th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing the 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, analysts forecast that Gaming and Leisure Properties will post 3.36 EPS for the current year.

In related news, EVP Brandon John Moore sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $50.02, for a total transaction of $500,200.00. Following the completion of the transaction, the executive vice president now owns 156,502 shares in the company, valued at approximately $7,828,230.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.53% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Cornercap Investment Counsel Inc. bought a new position in Gaming and Leisure Properties in the 1st quarter valued at $1,428,000. Lazard Asset Management LLC raised its position in Gaming and Leisure Properties by 1.5% in the 1st quarter. Lazard Asset Management LLC now owns 645,649 shares of the real estate investment trust’s stock valued at $27,394,000 after purchasing an additional 9,663 shares during the last quarter. Sei Investments Co. increased its stake in shares of Gaming and Leisure Properties by 5.2% in the 2nd quarter. Sei Investments Co. now owns 235,830 shares of the real estate investment trust’s stock valued at $10,940,000 after buying an additional 11,613 shares during the period. Spirit of America Management Corp NY increased its stake in shares of Gaming and Leisure Properties by 256.0% in the 2nd quarter. Spirit of America Management Corp NY now owns 3,685 shares of the real estate investment trust’s stock valued at $171,000 after buying an additional 2,650 shares during the period. Finally, First Manhattan Co. acquired a new stake in shares of Gaming and Leisure Properties in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

About Gaming and Leisure Properties

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

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