Mizuho Downgrades Gaming and Leisure Props: Here's What You Need To Know

Mizuho downgraded its rating of Gaming and Leisure Props GLPI to Neutral with a price target of $47.00, changing its price target from $50.00 to $47.00.

Shares of Gaming and Leisure Props are trading down 0.72% over the last 24 hours, at $45.75 per share.

A move to $47.00 would account for a 2.73% increase from the current share price.

About Gaming and Leisure Props

Gaming and Leisure Properties Inc, or GLP, is a real estate investment property trust primarily involved in the leasing of gaming and related facilities to wholly-owned subsidiaries of Penn National Gaming, or Penn, throughout the U.S. GLP segments its operations into GLP Capital and TRS Properties divisions. The company derives the vast majority of its revenue from its GLP Capital unit in the form of rental income from dockside and land-based casinos located mostly in the American Midwest. Almost all of GLP Capital's leases are long-term agreements that give Penn the option for future extensions. Gaming revenue generated by TRS Properties, which encompasses the operations of Hollywood Casino Perryville and Hollywood Casino Baton Rouge, also represents a significant income stream for GLP.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.