Gaming and Leisure Properties (NASDAQ:GLPI) Raised to Buy at Bank of America

Gaming and Leisure Properties (NASDAQ:GLPI) was upgraded by equities research analysts at Bank of America from an “underperform” rating to a “buy” rating in a research note issued to investors on Monday, January 6th, The Fly reports. The brokerage currently has a $47.00 target price on the real estate investment trust’s stock. Bank of America‘s price objective indicates a potential downside of 0.54% from the stock’s previous close.

A number of other equities analysts have also commented on the company. Deutsche Bank reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Gaming and Leisure Properties in a research note on Thursday, November 21st. Zacks Investment Research lowered Gaming and Leisure Properties from a “strong-buy” rating to a “hold” rating in a research note on Saturday, January 4th. BidaskClub upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Wednesday, December 11th. ValuEngine downgraded Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Macquarie assumed coverage on Gaming and Leisure Properties in a report on Thursday, October 24th. They set an “outperform” rating and a $44.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $45.25.

GLPI stock traded down $0.29 during trading hours on Monday, hitting $47.26. 1,169,133 shares of the stock were exchanged, compared to its average volume of 954,635. The company has a 50-day simple moving average of $43.96 and a two-hundred day simple moving average of $40.55. The firm has a market capitalization of $10.15 billion, a P/E ratio of 31.71, a P/E/G ratio of 1.38 and a beta of 0.51. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 2.82. Gaming and Leisure Properties has a 12 month low of $35.39 and a 12 month high of $47.80.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.41). The firm had revenue of $287.61 million for the quarter, compared to analyst estimates of $288.09 million. Gaming and Leisure Properties had a net margin of 27.62% and a return on equity of 14.76%. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 earnings per share. On average, equities research analysts predict that Gaming and Leisure Properties will post 3.36 earnings per share for the current year.

In other Gaming and Leisure Properties news, SVP Matthew Demchyk bought 2,500 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were acquired at an average cost of $42.00 per share, for a total transaction of $105,000.00. Following the purchase, the senior vice president now directly owns 50,000 shares of the company’s stock, valued at $2,100,000. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Desiree A. Burke sold 35,777 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $43.09, for a total value of $1,541,630.93. Following the completion of the transaction, the chief accounting officer now owns 139,944 shares in the company, valued at $6,030,186.96. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 10,000 shares of company stock worth $418,875 and have sold 50,801 shares worth $2,218,065. Insiders own 6.05% of the company’s stock.

Several institutional investors have recently made changes to their positions in GLPI. Lenox Wealth Advisors LLC bought a new position in shares of Gaming and Leisure Properties during the 3rd quarter valued at about $32,000. Parallel Advisors LLC boosted its holdings in Gaming and Leisure Properties by 48.2% during the 4th quarter. Parallel Advisors LLC now owns 969 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 315 shares during the period. Evoke Wealth LLC purchased a new stake in Gaming and Leisure Properties during the 3rd quarter valued at about $47,000. Huntington National Bank boosted its holdings in Gaming and Leisure Properties by 76.0% during the 4th quarter. Huntington National Bank now owns 1,264 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 546 shares during the period. Finally, Centaurus Financial Inc. lifted its holdings in Gaming and Leisure Properties by 2,495.4% in the 2nd quarter. Centaurus Financial Inc. now owns 3,400 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 3,269 shares during the period. Hedge funds and other institutional investors own 85.48% of the company’s stock.

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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The Fly

Analyst Recommendations for Gaming and Leisure Properties (NASDAQ:GLPI)

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