Zacks Investment Research upgraded shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a sell rating to a hold rating in a research report report published on Tuesday morning, Zacks.com reports.

According to Zacks, “Gaming and Leisure Properties, Inc. is a self-administered, self-managed REIT primarily engaged in the property business, which will consist of owning, acquiring, developing, expanding, managing, and leasing gaming and related facilities. Gaming and Leisure Properties, Inc. is based in United States. “

A number of other equities research analysts have also recently commented on GLPI. Morgan Stanley set a $47.00 target price on Gaming and Leisure Properties and gave the stock a buy rating in a research note on Friday, August 9th. BidaskClub upgraded Gaming and Leisure Properties from a hold rating to a buy rating in a research note on Wednesday, August 28th. Nomura set a $42.00 target price on Gaming and Leisure Properties and gave the stock a hold rating in a research note on Wednesday, August 7th. Finally, Scotiabank initiated coverage on Gaming and Leisure Properties in a research note on Monday, July 29th. They set an outperform rating on the stock. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Gaming and Leisure Properties currently has an average rating of Buy and an average price target of $43.22.

Shares of NASDAQ GLPI traded down $0.08 during mid-day trading on Tuesday, reaching $38.40. 60,046 shares of the company’s stock were exchanged, compared to its average volume of 923,026. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 1.28 and a beta of 0.53. Gaming and Leisure Properties has a 52 week low of $31.19 and a 52 week high of $40.82. The company has a debt-to-equity ratio of 2.78, a current ratio of 4.80 and a quick ratio of 4.80. The firm has a 50-day moving average price of $38.10 and a two-hundred day moving average price of $38.71.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.33). The business had revenue of $289.01 million for the quarter, compared to the consensus estimate of $289.64 million. Gaming and Leisure Properties had a return on equity of 14.98% and a net margin of 29.69%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 earnings per share. As a group, sell-side analysts forecast that Gaming and Leisure Properties will post 3.33 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date of this dividend is Thursday, September 5th. Gaming and Leisure Properties’s dividend payout ratio is currently 85.53%.

In other news, SVP Matthew Demchyk acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were acquired at an average cost of $37.57 per share, for a total transaction of $187,850.00. Following the purchase, the senior vice president now owns 42,500 shares of the company’s stock, valued at approximately $1,596,725. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 6.05% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Cohen & Steers Inc. increased its position in shares of Gaming and Leisure Properties by 25.8% during the second quarter. Cohen & Steers Inc. now owns 4,367,732 shares of the real estate investment trust’s stock valued at $170,254,000 after buying an additional 896,341 shares during the period. LSV Asset Management increased its position in shares of Gaming and Leisure Properties by 10.2% during the second quarter. LSV Asset Management now owns 3,392,032 shares of the real estate investment trust’s stock valued at $132,221,000 after buying an additional 314,900 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Gaming and Leisure Properties by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,077,424 shares of the real estate investment trust’s stock valued at $99,432,000 after buying an additional 10,015 shares during the period. Geode Capital Management LLC increased its position in shares of Gaming and Leisure Properties by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 2,989,909 shares of the real estate investment trust’s stock valued at $96,603,000 after buying an additional 55,706 shares during the period. Finally, Nuveen Asset Management LLC increased its position in shares of Gaming and Leisure Properties by 2,315.0% during the second quarter. Nuveen Asset Management LLC now owns 2,718,537 shares of the real estate investment trust’s stock valued at $105,968,000 after buying an additional 2,605,967 shares during the period. Institutional investors and hedge funds own 89.50% 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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