Gaming and Leisure Properties (GLPI) Rating Increased to Buy at SunTrust Banks

SunTrust Banks upgraded shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a hold rating to a buy rating in a research report released on Thursday morning, Marketbeat.com reports. SunTrust Banks also issued estimates for Gaming and Leisure Properties’ Q1 2019 earnings at $0.77 EPS, Q2 2019 earnings at $0.78 EPS, Q3 2019 earnings at $0.77 EPS, Q4 2019 earnings at $0.76 EPS and FY2019 earnings at $3.08 EPS.

GLPI has been the topic of several other reports. Zacks Investment Research raised shares of Gaming and Leisure Properties from a hold rating to a buy rating and set a $40.00 price objective on the stock in a report on Tuesday, October 31st. UBS Group raised shares of Gaming and Leisure Properties from a hold rating to a buy rating in a report on Tuesday, December 19th. Barclays reaffirmed a buy rating on shares of Gaming and Leisure Properties in a report on Sunday, December 24th. Finally, Ladenburg Thalmann Financial Services set a $43.00 price objective on shares of Gaming and Leisure Properties and gave the company a buy rating in a report on Tuesday, December 19th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $40.17.

Gaming and Leisure Properties (NASDAQ GLPI) traded down $0.57 on Thursday, reaching $36.01. 911,400 shares of the company’s stock traded hands, compared to its average volume of 1,025,078. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $7,660.00, a P/E ratio of 20.01 and a beta of 0.57. Gaming and Leisure Properties has a fifty-two week low of $30.22 and a fifty-two week high of $39.32.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The business had revenue of $244.50 million for the quarter, compared to the consensus estimate of $243.66 million. Gaming and Leisure Properties had a net margin of 39.31% and a return on equity of 17.37%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. sell-side analysts expect that Gaming and Leisure Properties will post 3.09 earnings per share for the current fiscal year.

In other Gaming and Leisure Properties news, Director E Scott Urdang bought 5,000 shares of Gaming and Leisure Properties stock in a transaction dated Monday, October 30th. The stock was acquired at an average cost of $36.23 per share, for a total transaction of $181,150.00. Following the completion of the transaction, the director now directly owns 55,241 shares of the company’s stock, valued at $2,001,381.43. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.88% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Gaming and Leisure Properties in the second quarter valued at about $101,000. First Quadrant L P CA acquired a new stake in shares of Gaming and Leisure Properties in the third quarter valued at about $151,000. Advisor Group Inc. raised its position in shares of Gaming and Leisure Properties by 75.3% in the second quarter. Advisor Group Inc. now owns 4,650 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 1,998 shares during the last quarter. Stifel Financial Corp acquired a new stake in shares of Gaming and Leisure Properties in the third quarter valued at about $249,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Gaming and Leisure Properties by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 6,763 shares of the real estate investment trust’s stock valued at $255,000 after buying an additional 473 shares during the last quarter. Institutional investors and hedge funds own 92.04% of the company’s stock.

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Gaming and Leisure Properties Company Profile

Gaming and Leisure Properties, Inc (GLPI) is a self-administered and self-managed Pennsylvania real estate investment trust (REIT). The Company is engaged in the business of acquiring, financing and owning real estate property to be leased to gaming operators in triple net lease arrangements. Its segments include GLP Capital, L.P.

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

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