Gaming and Leisure Properties (NASDAQ:GLPI) Price Target Raised to $53.00 at Royal Bank of Canada

Gaming and Leisure Properties (NASDAQ:GLPI) had its target price boosted by investment analysts at Royal Bank of Canada from $52.00 to $53.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price target suggests a potential upside of 6.68% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on GLPI. Scotiabank upped their price objective on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 16th. Mizuho cut their target price on shares of Gaming and Leisure Properties from $47.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. Stifel Nicolaus raised their price objective on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a “buy” rating in a research note on Friday. UBS Group raised their price objective on shares of Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, Wells Fargo & Company lowered their target price on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set an “equal weight” rating for the company in a report on Thursday, May 30th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.50.

Gaming and Leisure Properties Stock Up 0.5 %

Shares of NASDAQ:GLPI traded up $0.23 during midday trading on Monday, reaching $49.68. 79,966 shares of the company were exchanged, compared to its average volume of 1,331,296. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.49. Gaming and Leisure Properties has a fifty-two week low of $41.80 and a fifty-two week high of $49.99. The stock has a fifty day simple moving average of $45.43 and a two-hundred day simple moving average of $45.18. The firm has a market cap of $13.63 billion, a PE ratio of 18.33, a P/E/G ratio of 5.82 and a beta of 0.98.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.15). The firm had revenue of $380.60 million for the quarter, compared to analyst estimates of $377.95 million. Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 earnings per share. As a group, sell-side analysts forecast that Gaming and Leisure Properties will post 3.66 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GLPI. Ignite Planners LLC increased its stake in Gaming and Leisure Properties by 1.8% in the second quarter. Ignite Planners LLC now owns 12,181 shares of the real estate investment trust’s stock worth $543,000 after purchasing an additional 220 shares during the period. Moody National Bank Trust Division grew its stake in shares of Gaming and Leisure Properties by 1.2% during the first quarter. Moody National Bank Trust Division now owns 19,068 shares of the real estate investment trust’s stock worth $878,000 after acquiring an additional 231 shares during the last quarter. Securian Asset Management Inc. grew its stake in shares of Gaming and Leisure Properties by 1.3% during the fourth quarter. Securian Asset Management Inc. now owns 22,534 shares of the real estate investment trust’s stock worth $1,112,000 after acquiring an additional 289 shares during the last quarter. Private Advisor Group LLC boosted its position in Gaming and Leisure Properties by 2.7% in the first quarter. Private Advisor Group LLC now owns 11,440 shares of the real estate investment trust’s stock valued at $527,000 after buying an additional 299 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its position in Gaming and Leisure Properties by 1.9% in the fourth quarter. Corient Private Wealth LLC now owns 17,844 shares of the real estate investment trust’s stock valued at $881,000 after buying an additional 327 shares during the last quarter. 91.14% of the stock is currently owned by institutional investors.

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.