Gaming & Leisure Properties Receives Strong Buy Rating, Analysts Optimistic on Acquisition

Stifel Nicolaus's Simon Yarmak raised their price target on Gaming & Leisure Properties (NASDAQ: GLPI) by 0.5% from $50.75 to $51 on 2024/05/17. The analyst maintained their Strong Buy rating on the stock.

Yarmak said they made the move to reflect Gaming & Leisure Properties' $105M acquisition of three casino resorts in South Dakota and Nevada on 2024/05/16. The three casino resorts acquired were the Silverado Franklin Hotel & Gaming Complex, Deadwood Mountain Grand, and Baldini's Casino.

This analyst rating comes as no surprise, as top-rated analysts have consistently shown confidence in GLPI. According to the latest data, 100% of top-rated analysts currently rate GLPI as a Strong Buy or Buy, with no analysts recommending a Hold or suggesting selling the stock.

Looking ahead, analysts forecast that GLPI will deliver earnings per share (EPS) of $3.35 in the upcoming year. If these predictions hold true, GLPI's next yearly EPS will see a significant 23.1% increase compared to the previous year.

However, it's important to note that GLPI's stock price has faced some challenges recently. Since the last quarterly report on March 31, 2024, the stock price has experienced a slight decline of 0.1%. Furthermore, on a year-over-year basis, the stock is down 6.2%. During this period, GLPI has been trailing the S&P 500, which has seen a decline of 27.5%.

Simon Yarmak, the Stifel Nicolaus analyst who provided the rating, is ranked in the top 24% of Wall Street analysts by WallStreetZen. Yarmak specializes in the Consumer Defensive, Real Estate, and Consumer Cyclical sectors. With an average return of 3.7% and a win rate of 55.9%, Yarmak's analysis carries weight in the financial community.

Gaming & Leisure Properties (GLPI) is primarily engaged in acquiring, financing, and owning real estate properties leased to gaming operators. The company operates under triple-net lease arrangements, where the tenant assumes responsibility for facility maintenance, insurance, taxes, and utilities. This business model allows GLPI to generate consistent cash flow from its leased properties.

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WallStreetZen and Don Francis do not hold any positions in the companies mentioned in this article. The information and statistics provided herein are presented for general informational purposes only and may not be accurate, complete, or up-to-date. It should not be interpreted as a recommendation to buy or sell any stocks and should not be solely relied upon for making investment decisions. It does not take into account your financial situation or risk profile. All investors should conduct their own investment due diligence before buying a stock. WallStreetZen expressly disclaims any liability for the accuracy, reliability, or completeness of the analysts' information, price targets, ratings, or opinions.