Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

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. “

GLPI has been the subject of several other research reports. Ladenburg Thalmann Financial Services set a $41.00 target price on Gaming and Leisure Properties and gave the stock a “buy” rating in a research note on Monday. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $38.00 target price on shares of Gaming and Leisure Properties in a research note on Tuesday, October 24th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $39.00 target price on shares of Gaming and Leisure Properties in a research note on Friday, July 28th. Barclays PLC upped their target price on Gaming and Leisure Properties from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 16th. Finally, BidaskClub lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Gaming and Leisure Properties has a consensus rating of “Hold” and an average price target of $38.86.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Thursday, October 26th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. The business had revenue of $244.50 million during the quarter, compared to analyst estimates of $243.66 million. Gaming and Leisure Properties had a return on equity of 17.44% and a net margin of 39.31%. Gaming and Leisure Properties’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 earnings per share.

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In related news, Director E Scott Urdang acquired 5,000 shares of the stock in a transaction on Monday, October 30th. The stock was purchased at an average price of $36.23 per share, for a total transaction of $181,150.00. Following the completion of the transaction, the director now owns 55,241 shares of the company’s stock, valued at approximately $2,001,381.43. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 5.88% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. State of Wisconsin Investment Board lifted its position in Gaming and Leisure Properties by 4.5% in the third quarter. State of Wisconsin Investment Board now owns 40,975 shares of the real estate investment trust’s stock valued at $1,512,000 after purchasing an additional 1,749 shares during the last quarter. Stevens Capital Management LP bought a new stake in Gaming and Leisure Properties in the third quarter valued at approximately $3,152,000. Forsta AP Fonden lifted its position in Gaming and Leisure Properties by 36.6% in the third quarter. Forsta AP Fonden now owns 100,300 shares of the real estate investment trust’s stock valued at $3,700,000 after purchasing an additional 26,900 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Gaming and Leisure Properties by 3.0% in the third quarter. State Board of Administration of Florida Retirement System now owns 237,296 shares of the real estate investment trust’s stock valued at $8,754,000 after purchasing an additional 6,900 shares during the last quarter. Finally, E&G Advisors LP bought a new stake in Gaming and Leisure Properties in the third quarter valued at approximately $417,000. Hedge funds and other institutional investors own 89.69% of the company’s stock.

About Gaming and Leisure Properties

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.

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

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