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

BidaskClub downgraded shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a strong-buy rating to a buy rating in a report published on Tuesday, BidAskClub reports.

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

NASDAQ:GLPI opened at $39.66 on Tuesday. Gaming and Leisure Properties has a 52 week low of $31.19 and a 52 week high of $40.69. The company has a debt-to-equity ratio of 2.72, a current ratio of 2.99 and a quick ratio of 2.99. The firm has a market cap of $8.67 billion, a P/E ratio of 12.45, a PEG ratio of 0.97 and a beta of 0.58.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.68 dividend. The ex-dividend date is Thursday, June 13th. This represents a $2.72 annualized dividend and a yield of 6.86%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 85.53%.

In other Gaming and Leisure Properties news, CAO Desiree A. Burke sold 41,458 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $39.06, for a total value of $1,619,349.48. Following the completion of the transaction, the chief accounting officer now directly owns 119,264 shares in the company, valued at approximately $4,658,451.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.88% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc raised its holdings in Gaming and Leisure Properties by 9.1% in the 3rd quarter. Vanguard Group Inc now owns 30,677,165 shares of the real estate investment trust’s stock worth $1,081,370,000 after purchasing an additional 2,553,357 shares in the last quarter. BlackRock Inc. raised its holdings in Gaming and Leisure Properties by 1.7% in the 4th quarter. BlackRock Inc. now owns 15,296,694 shares of the real estate investment trust’s stock worth $494,235,000 after purchasing an additional 259,437 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Gaming and Leisure Properties by 1.1% in the 1st quarter. Renaissance Technologies LLC now owns 9,600,212 shares of the real estate investment trust’s stock worth $370,280,000 after purchasing an additional 107,300 shares in the last quarter. PGGM Investments raised its holdings in Gaming and Leisure Properties by 85.4% in the 1st quarter. PGGM Investments now owns 8,278,672 shares of the real estate investment trust’s stock worth $319,308,000 after purchasing an additional 3,812,672 shares in the last quarter. Finally, Cohen & Steers Inc. raised its holdings in Gaming and Leisure Properties by 434.2% in the 4th quarter. Cohen & Steers Inc. now owns 3,791,853 shares of the real estate investment trust’s stock worth $122,515,000 after purchasing an additional 3,082,056 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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