Gaming and Leisure Properties (NASDAQ:GLPI) Downgraded by BidaskClub

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Gaming and Leisure Properties (NASDAQ:GLPI) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday, BidAskClub reports.

A number of other brokerages have also issued reports on GLPI. Zacks Investment Research raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Monday, February 11th. Deutsche Bank reaffirmed a “buy” rating and set a $47.00 target price on shares of Gaming and Leisure Properties in a research report on Sunday, May 12th. Stifel Nicolaus raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and boosted their target price for the stock from $39.00 to $43.00 in a research report on Monday, April 15th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $41.00 target price on shares of Gaming and Leisure Properties in a research report on Wednesday, March 20th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Gaming and Leisure Properties presently has an average rating of “Buy” and a consensus price target of $42.80.

Shares of Gaming and Leisure Properties stock opened at $40.39 on Tuesday. The firm has a market cap of $8.66 billion, a PE ratio of 12.70, a P/E/G ratio of 0.97 and a beta of 0.58. The company has a current ratio of 2.99, a quick ratio of 2.99 and a debt-to-equity ratio of 2.72. Gaming and Leisure Properties has a 12-month low of $31.19 and a 12-month high of $40.69.

In other news, CAO Desiree A. Burke sold 41,458 shares of Gaming and Leisure Properties stock in a transaction on Friday, April 5th. The stock was sold at an average price of $39.06, for a total transaction of $1,619,349.48. Following the transaction, the chief accounting officer now owns 119,264 shares in the company, valued at $4,658,451.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.88% of the company’s stock.

Several hedge funds have recently modified their holdings of GLPI. Quadrant Capital Group LLC grew its stake in Gaming and Leisure Properties by 39.9% in the first quarter. Quadrant Capital Group LLC now owns 988 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 282 shares in the last quarter. Washington Trust Bank grew its stake in Gaming and Leisure Properties by 14.9% in the first quarter. Washington Trust Bank now owns 2,230 shares of the real estate investment trust’s stock valued at $86,000 after purchasing an additional 290 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Gaming and Leisure Properties by 3.0% in the first quarter. Commonwealth Equity Services LLC now owns 10,169 shares of the real estate investment trust’s stock valued at $392,000 after purchasing an additional 297 shares in the last quarter. Parallel Advisors LLC grew its stake in Gaming and Leisure Properties by 50.6% in the fourth quarter. Parallel Advisors LLC now owns 905 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 304 shares in the last quarter. Finally, Signaturefd LLC grew its stake in 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 valued at $28,000 after purchasing an additional 361 shares in the last quarter. Institutional investors and hedge funds own 88.31% of the company’s stock.

About Gaming and Leisure Properties

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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