The Buckingham Research Initiates Coverage on Gaming and Leisure Properties Inc. (GLPI)

The Buckingham Research Initiates Coverage on Gaming and Leisure Properties Inc. (GLPI)

Buckingham Research assumed coverage on shares of Gaming and Leisure Properties Inc. (NASDAQ:GLPI) in a report released on Tuesday morning. The firm issued a neutral rating and a $33.00 price objective on the stock.

A number of other equities analysts have also issued reports on the company. TheStreet upgraded Gaming and Leisure Properties from a sell rating to a hold rating in a research note on Tuesday, October 11th. Deutsche Bank AG raised their target price on Gaming and Leisure Properties from $38.00 to $40.00 and gave the stock a buy rating in a research note on Wednesday, August 10th. Zacks Investment Research upgraded Gaming and Leisure Properties from a hold rating to a buy rating and set a $33.00 target price for the company in a research note on Friday, November 11th. Finally, Morgan Stanley upgraded Gaming and Leisure Properties from an equal weight rating to an overweight rating and raised their target price for the stock from $36.00 to $38.00 in a research note on Wednesday, September 7th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Gaming and Leisure Properties presently has a consensus rating of Buy and an average target price of $34.30.

Gaming and Leisure Properties (NASDAQ:GLPI) opened at 30.60 on Tuesday. The stock has a 50 day moving average price of $0.00 and a 200 day moving average price of $0.00. Gaming and Leisure Properties has a 12 month low of $24.21 and a 12 month high of $35.98.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Tuesday, November 8th. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.76 by $0.33. The business had revenue of $233.30 million for the quarter, compared to analysts’ expectations of $234.49 million. Gaming and Leisure Properties had a net margin of 31.38% and a return on equity of 20.85%. The business’s revenue for the quarter was up 57.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 EPS. On average, equities analysts forecast that Gaming and Leisure Properties will post $2.98 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Monday, December 5th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 7.84%. The ex-dividend date of this dividend is Thursday, December 1st. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 177.78%.

In other Gaming and Leisure Properties news, Director E Scott Urdang bought 16,000 shares of the company’s stock in a transaction dated Friday, November 11th. The shares were purchased at an average cost of $30.20 per share, for a total transaction of $483,200.00. Following the transaction, the director now directly owns 44,525 shares of the company’s stock, valued at $1,344,655. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Steven T. Snyder sold 181,843 shares of the firm’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $30.20, for a total value of $5,491,658.60. Following the sale, the senior vice president now owns 349,225 shares in the company, valued at $10,546,595. The disclosure for this sale can be found here. Insiders own 22.36% of the company’s stock.

Several large investors have recently bought and sold shares of GLPI. Shinko Asset Management Co. Ltd. boosted its stake in Gaming and Leisure Properties by 43.7% in the second quarter. Shinko Asset Management Co. Ltd. now owns 10,200 shares of the company’s stock worth $352,000 after buying an additional 3,100 shares during the period. CIBC World Markets Inc. purchased a new stake in Gaming and Leisure Properties during the second quarter valued at about $1,034,000. Macguire Cheswick & Tuttle Investment Counsel LLC boosted its stake in Gaming and Leisure Properties by 42.1% in the second quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 187,260 shares of the company’s stock valued at $6,457,000 after buying an additional 55,472 shares during the last quarter. Prescott Group Capital Management L.L.C. boosted its stake in Gaming and Leisure Properties by 56.2% in the second quarter. Prescott Group Capital Management L.L.C. now owns 61,161 shares of the company’s stock valued at $2,109,000 after buying an additional 22,000 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Gaming and Leisure Properties by 79.6% in the second quarter. State of Alaska Department of Revenue now owns 75,320 shares of the company’s stock valued at $2,597,000 after buying an additional 33,380 shares during the last quarter. Hedge funds and other institutional investors own 90.33% of the company’s stock.

Gaming and Leisure Properties Company Profile

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