Gaming and Leisure Properties (NASDAQ:GLPI) Stock Rating Lowered by StockNews.com

Gaming and Leisure Properties (NASDAQ:GLPI) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Several other analysts have also recently issued reports on GLPI. Morgan Stanley dropped their target price on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. JMP Securities restated a “market outperform” rating and issued a $53.00 target price on shares of Gaming and Leisure Properties in a report on Monday, March 4th. Mizuho dropped their target price on Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, March 7th. Finally, Royal Bank of Canada dropped their target price on Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating for the company in a report on Monday. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Gaming and Leisure Properties has an average rating of “Moderate Buy” and a consensus target price of $51.91.

Gaming and Leisure Properties Stock Up 0.9 %

Shares of GLPI opened at $43.50 on Wednesday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.47 and a current ratio of 6.47. Gaming and Leisure Properties has a one year low of $41.80 and a one year high of $51.43. The stock has a market capitalization of $11.81 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 5.02 and a beta of 0.95. The stock has a 50 day moving average price of $44.69 and a 200 day moving average price of $45.80.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.64 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.26). Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. The firm had revenue of $376.00 million for the quarter, compared to analysts’ expectations of $368.44 million. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. Equities research analysts forecast that Gaming and Leisure Properties will post 3.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director E Scott Urdang bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average price of $45.00 per share, with a total value of $112,500.00. Following the purchase, the director now owns 156,685 shares in the company, valued at $7,050,825. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Gaming and Leisure Properties

Several hedge funds have recently bought and sold shares of GLPI. FORA Capital LLC raised its position in Gaming and Leisure Properties by 12.0% in the 1st quarter. FORA Capital LLC now owns 34,454 shares of the real estate investment trust’s stock valued at $1,587,000 after purchasing an additional 3,679 shares in the last quarter. Applied Fundamental Research LLC raised its position in Gaming and Leisure Properties by 7.0% in the 1st quarter. Applied Fundamental Research LLC now owns 311,885 shares of the real estate investment trust’s stock valued at $14,369,000 after purchasing an additional 20,496 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Gaming and Leisure Properties by 6.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 107,551 shares of the real estate investment trust’s stock valued at $4,955,000 after purchasing an additional 6,186 shares in the last quarter. Mckinley Capital Management LLC raised its position in Gaming and Leisure Properties by 1.6% in the 1st quarter. Mckinley Capital Management LLC now owns 29,630 shares of the real estate investment trust’s stock valued at $1,365,000 after purchasing an additional 476 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Gaming and Leisure Properties by 9.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 285,121 shares of the real estate investment trust’s stock valued at $13,136,000 after purchasing an additional 24,161 shares in the last quarter. Institutional investors and hedge funds own 91.14% 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.