Gaming and Leisure Properties Inc (GLPI) was Initiated by UBS to “Neutral” and the brokerage firm has set the Price Target at $35. UBS advised their investors in a research report released on Sep 26, 2016.
Many Wall Street Analysts have commented on Gaming and Leisure Properties Inc. Gaming and Leisure Properties Inc was Upgraded by Morgan Stanley to ” Overweight” on Sep 7, 2016.
On the company’s financial health, Gaming and Leisure Properties Inc reported $0.39 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $0.50. The company had revenue of $207.40 million for the quarter, compared to analysts expectations of $211.37 million. The company’s revenue was up 38.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS.
Gaming and Leisure Properties Inc opened for trading at $33.66 and hit $34.16 on the upside on Thursday, eventually ending the session at $34, with a gain of 1.37% or 0.46 points. The heightened volatility saw the trading volume jump to 7,63,881 shares. Company has a market cap of $6,974 M.
In a different news, on Sep 9, 2016, William J Clifford (Sr VP-Chief Financial Officer) sold 157,241 shares at $34.78 per share price. According to the SEC, on Aug 16, 2016, Desiree A. Burke (SVP & Chief Accounting Officer) sold 132,156 shares at $35.41 per share price. On Jul 15, 2016, Peter M Carlino (Chairman & CEO) sold 269,130 shares at $35.03 per share price, according to the Form-4 filing with the securities and exchange commission.
Gaming and Leisure Properties Inc. (GLPI) is a self-administered and self-managed 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. Triple net leases are leases in which the lessee pays rent to the lessor as well as all taxes insurance and maintenance expenses that arise from the use of the property. The Company operates in two segments: GLP Capital L.P. (a wholly owned subsidiary of GLPI through which GLPI owns all of its real estate assets) (GLP Capital) and the TRS Properties. The GLP Capital segment consists of the leased real property and represents the Companys business. The TRS Properties segment consists of Hollywood Casino Perryville and Hollywood Casino Baton Rouge.