Gaming and Leisure Properties (NASDAQ:GLPI) Rating Lowered to Hold at Truist Securities

Truist Securities cut shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a buy rating to a hold rating in a report published on Thursday morning, Stock Target Advisor reports. The firm currently has $51.00 price target on the real estate investment trust’s stock, down from their previous price target of $57.00.

GLPI has been the topic of several other reports. Mizuho increased their price objective on shares of Gaming and Leisure Properties from $52.00 to $56.00 and gave the company a buy rating in a research report on Monday, November 1st. Truist Financial raised shares of Gaming and Leisure Properties from a hold rating to a buy rating and dropped their price objective for the company from $57.00 to $51.00 in a research report on Thursday. Raymond James increased their price objective on shares of Gaming and Leisure Properties from $52.00 to $54.00 and gave the company a strong-buy rating in a research report on Wednesday, December 8th. Scotiabank lowered shares of Gaming and Leisure Properties from a sector outperform rating to a sector perform rating in a research report on Wednesday, December 15th. Finally, Truist downgraded shares of Gaming and Leisure Properties from a buy rating to a hold rating and decreased their price target for the company from $57.00 to $51.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $52.87.

Shares of GLPI stock opened at $44.64 on Thursday. The company’s fifty day simple moving average is $46.74 and its 200-day simple moving average 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. The firm has a market cap of $10.64 billion, a PE ratio of 17.86, a P/E/G ratio of 5.24 and a beta of 1.04. Gaming and Leisure Properties has a 12 month low of $39.08 and a 12 month high of $51.46.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Wednesday, October 27th. The real estate investment trust reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.03. The company had revenue of $298.71 million for the quarter, compared to analyst estimates of $295.47 million. Gaming and Leisure Properties had a net margin of 47.92% and a return on equity of 21.35%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 earnings per share. On average, equities analysts predict that Gaming and Leisure Properties will post 3.41 earnings per share for the current fiscal year.

The company also recently disclosed a None dividend, which was paid on Friday, January 7th. Shareholders of record on Monday, December 27th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, December 23rd. Gaming and Leisure Properties’s payout ratio is 107.20%.

In other Gaming and Leisure Properties news, SVP Steven Ladany sold 2,260 shares of the stock in a transaction dated Thursday, January 6th. The shares were sold at an average price of $47.59, for a total transaction of $107,553.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Desiree A. Burke sold 33,541 shares of the stock in a transaction dated Wednesday, January 5th. The stock was sold at an average price of $48.27, for a total transaction of $1,619,024.07. The disclosure for this sale can be found here. Insiders have sold 43,976 shares of company stock worth $2,124,025 over the last quarter. Corporate insiders own 5.53% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Spire Wealth Management lifted its holdings in shares of Gaming and Leisure Properties by 274.9% in the fourth quarter. Spire Wealth Management now owns 3,370 shares of the real estate investment trust’s stock worth $164,000 after acquiring an additional 2,471 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Gaming and Leisure Properties by 6.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 100,707 shares of the real estate investment trust’s stock worth $4,900,000 after acquiring an additional 6,503 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in shares of Gaming and Leisure Properties by 62.1% in the fourth quarter. Wedbush Securities Inc. now owns 21,983 shares of the real estate investment trust’s stock worth $1,070,000 after acquiring an additional 8,422 shares during the last quarter. Stock Yards Bank & Trust Co. lifted its holdings in shares of Gaming and Leisure Properties by 45.6% in the fourth quarter. Stock Yards Bank & Trust Co. now owns 13,246 shares of the real estate investment trust’s stock worth $645,000 after acquiring an additional 4,146 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Gaming and Leisure Properties by 11.5% in the 4th quarter. State of Alaska Department of Revenue now owns 183,994 shares of the real estate investment trust’s stock valued at $8,951,000 after buying an additional 19,039 shares during the last quarter. 87.15% of the stock is owned by hedge funds and other institutional investors.

About Gaming and Leisure Properties

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

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