Gaming and Leisure Properties (NASDAQ:GLPI) Stock Rating Lowered by Truist Securities

Gaming and Leisure Properties (NASDAQ:GLPI) was downgraded by analysts at Truist Securities from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. They presently have a $51.00 price target on the real estate investment trust’s stock, down from their previous price target of $57.00. Truist Securities’ target price indicates a potential upside of 14.25% from the stock’s current price.

Several other research analysts have also recently commented on GLPI. Raymond James upped their target price on shares of Gaming and Leisure Properties from $52.00 to $54.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, December 8th. Zacks Investment Research cut shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Tuesday, November 2nd. Truist Financial upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and decreased their price objective for the company from $57.00 to $51.00 in a report on Thursday. Scotiabank cut shares of Gaming and Leisure Properties from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, December 15th. Finally, Morgan Stanley increased their price objective on shares of Gaming and Leisure Properties from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, December 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Gaming and Leisure Properties presently has an average rating of “Buy” and an average target price of $52.87.

GLPI opened at $44.64 on Thursday. The firm has a market cap of $10.64 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 5.24 and a beta of 1.04. Gaming and Leisure Properties has a fifty-two week low of $39.08 and a fifty-two week high of $51.46. The company’s 50-day moving average price is $46.74 and its 200 day moving average price is $47.55. The company has a quick ratio of 4.72, a current ratio of 4.72 and a debt-to-equity ratio of 2.00.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Wednesday, October 27th. The real estate investment trust reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. Gaming and Leisure Properties had a net margin of 47.92% and a return on equity of 21.35%. The firm had revenue of $298.71 million during the quarter, compared to analysts’ expectations of $295.47 million. During the same quarter in the prior year, the firm earned $0.89 EPS. Gaming and Leisure Properties’s quarterly revenue was down 2.9% on a year-over-year basis. Research analysts anticipate that Gaming and Leisure Properties will post 3.41 earnings per share for the current year.

In other news, Director E Scott Urdang purchased 3,000 shares of Gaming and Leisure Properties stock in a transaction that occurred on Wednesday, December 15th. The stock was acquired at an average price of $45.71 per share, for a total transaction of $137,130.00. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Desiree A. Burke sold 5,501 shares of the company’s stock in a transaction that occurred on Monday, January 3rd. The shares were sold at an average price of $48.66, for a total transaction of $267,678.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,976 shares of company stock valued at $2,124,025. 5.53% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. CI Investments Inc. lifted its position in Gaming and Leisure Properties by 5.0% in the 3rd quarter. CI Investments Inc. now owns 4,499 shares of the real estate investment trust’s stock worth $208,000 after buying an additional 216 shares in the last quarter. EP Wealth Advisors LLC lifted its position in Gaming and Leisure Properties by 0.7% in the 3rd quarter. EP Wealth Advisors LLC now owns 41,872 shares of the real estate investment trust’s stock worth $1,940,000 after buying an additional 296 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Gaming and Leisure Properties by 53.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 345 shares in the last quarter. First Republic Investment Management Inc. lifted its position in Gaming and Leisure Properties by 2.0% in the 3rd quarter. First Republic Investment Management Inc. now owns 19,044 shares of the real estate investment trust’s stock worth $882,000 after buying an additional 371 shares in the last quarter. Finally, Signaturefd LLC lifted its position in Gaming and Leisure Properties by 43.0% in the 3rd quarter. Signaturefd LLC now owns 1,350 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 406 shares in the last quarter. Institutional investors own 87.15% of the company’s stock.

Gaming and Leisure Properties Company Profile

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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