Gaming and Leisure Properties (NASDAQ:GLPI) Rating Increased to Hold at Zacks Investment Research
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. “
A number of other equities research analysts have also recently weighed in on the company. Scotiabank started coverage on Gaming and Leisure Properties in a report on Monday, July 29th. They set an outperform rating on the stock. Nomura set a $42.00 price target on Gaming and Leisure Properties and gave the company a hold rating in a report on Wednesday, August 7th. Morgan Stanley set a $47.00 price target on Gaming and Leisure Properties and gave the company a buy rating in a report on Friday, August 9th. Finally, BidaskClub cut Gaming and Leisure Properties from a buy rating to a hold rating in a report on Friday, September 13th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $43.22.
Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.33). The business had revenue of $289.01 million during the quarter, compared to the consensus estimate of $289.64 million. Gaming and Leisure Properties had a return on equity of 14.98% and a net margin of 29.69%. The business’s revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.43 EPS. As a group, equities research analysts expect that Gaming and Leisure Properties will post 3.33 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a dividend of $0.68 per share. The ex-dividend date was Thursday, September 5th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 7.01%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 85.53%.
In other Gaming and Leisure Properties news, SVP Matthew Demchyk purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were bought at an average price of $37.57 per share, with a total value of $187,850.00. Following the completion of the acquisition, the senior vice president now owns 42,500 shares in the company, valued at approximately $1,596,725. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.05% of the company’s stock.
A number of large investors have recently made changes to their positions in GLPI. Nuveen Asset Management LLC raised its holdings in Gaming and Leisure Properties by 2,315.0% during the second quarter. Nuveen Asset Management LLC now owns 2,718,537 shares of the real estate investment trust’s stock worth $105,968,000 after purchasing an additional 2,605,967 shares in the last quarter. Cohen & Steers Inc. raised its holdings in Gaming and Leisure Properties by 25.8% during the second quarter. Cohen & Steers Inc. now owns 4,367,732 shares of the real estate investment trust’s stock worth $170,254,000 after purchasing an additional 896,341 shares in the last quarter. Invesco Ltd. raised its holdings in Gaming and Leisure Properties by 195.3% during the second quarter. Invesco Ltd. now owns 1,232,828 shares of the real estate investment trust’s stock worth $48,056,000 after purchasing an additional 815,302 shares in the last quarter. Polaris Greystone Financial Group LLC bought a new stake in Gaming and Leisure Properties during the second quarter worth approximately $13,924,000. Finally, LSV Asset Management raised its holdings in Gaming and Leisure Properties by 10.2% during the second quarter. LSV Asset Management now owns 3,392,032 shares of the real estate investment trust’s stock worth $132,221,000 after purchasing an additional 314,900 shares in the last quarter. 89.54% of the stock is currently owned by hedge funds and other institutional investors.
Gaming and Leisure Properties Company Profile
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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