BidaskClub Lowers Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) to Hold

BidaskClub cut shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) from a buy rating to a hold rating in a report published on Wednesday morning.

Several other research firms have also issued reports on GLPI. Zacks Investment Research lowered shares of Gaming and Leisure Properties from a buy rating to a hold rating in a report on Friday, June 30th. Ladenburg Thalmann Financial Services assumed coverage on shares of Gaming and Leisure Properties in a research note on Friday, June 2nd. They issued a buy rating and a $41.00 price objective for the company. TheStreet upgraded shares of Gaming and Leisure Properties from a c+ rating to a b rating in a research note on Monday, May 22nd. Finally, Deutsche Bank AG lifted their price objective on shares of Gaming and Leisure Properties from $36.00 to $37.00 and gave the company a buy rating in a research note on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $37.50.

Gaming and Leisure Properties (GLPI) remained flat at $37.07 on Wednesday. 673,565 shares of the company traded hands. Gaming and Leisure Properties has a 52 week low of $29.32 and a 52 week high of $38.89.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. Gaming and Leisure Properties had a net margin of 38.01% and a return on equity of 16.42%. The firm had revenue of $242.71 million during the quarter, compared to analyst estimates of $240.88 million. During the same quarter last year, the business earned $0.27 EPS. The company’s revenue was up 63.1% compared to the same quarter last year. On average, analysts predict that Gaming and Leisure Properties will post $1.81 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were paid a $0.62 dividend. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $2.48 annualized dividend and a dividend yield of 6.69%. Gaming and Leisure Properties’s dividend payout ratio is currently 144.19%.

In related news, Director Barry F. Schwartz acquired 10,000 shares of the stock in a transaction dated Friday, June 16th. The stock was bought at an average price of $36.44 per share, for a total transaction of $364,400.00. Following the purchase, the director now directly owns 14,804 shares of the company’s stock, valued at approximately $539,457.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 5.88% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Gaming and Leisure Properties by 0.7% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 30,109 shares of the real estate investment trust’s stock valued at $1,006,000 after buying an additional 195 shares in the last quarter. Commerce Bank raised its stake in Gaming and Leisure Properties by 2.2% in the first quarter. Commerce Bank now owns 9,100 shares of the real estate investment trust’s stock valued at $304,000 after buying an additional 200 shares in the last quarter. Pinnacle Associates Ltd. raised its stake in Gaming and Leisure Properties by 1.5% in the first quarter. Pinnacle Associates Ltd. now owns 13,597 shares of the real estate investment trust’s stock valued at $454,000 after buying an additional 200 shares in the last quarter. Prudential Financial Inc. raised its stake in Gaming and Leisure Properties by 1.7% in the first quarter. Prudential Financial Inc. now owns 11,701 shares of the real estate investment trust’s stock valued at $391,000 after buying an additional 200 shares in the last quarter. Finally, Cadence Capital Management LLC increased its stake in Gaming and Leisure Properties by 1.8% in the first quarter. Cadence Capital Management LLC now owns 12,735 shares of the real estate investment trust’s stock valued at $426,000 after buying an additional 224 shares during the last quarter. Institutional investors own 90.26% of the company’s stock.

About Gaming and Leisure Properties

Gaming and Leisure Properties, Inc (GLPI) is a self-administered and self-managed Pennsylvania real estate investment trust (REIT). The Company is engaged in the business of acquiring, financing and owning real estate property to be leased to gaming operators in triple net lease arrangements. Its segments include GLP Capital, L.P.

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

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