Gaming and Leisure Properties (NASDAQ:GLPI) PT Raised to $55.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target lifted by equities research analysts at JMP Securities from $53.00 to $55.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “market outperform” rating on the real estate investment trust’s stock. JMP Securities’ price target would suggest a potential upside of 12.02% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Mizuho dropped their target price on shares of Gaming and Leisure Properties from $47.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Wedbush reaffirmed an “outperform” rating and issued a $51.00 target price on shares of Gaming and Leisure Properties in a research note on Friday, May 17th. StockNews.com raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Friday, July 19th. Royal Bank of Canada boosted their price target on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.38.

Gaming and Leisure Properties Trading Down 0.1 %

Shares of NASDAQ GLPI opened at $49.10 on Monday. Gaming and Leisure Properties has a 1-year low of $41.80 and a 1-year high of $50.74. The company has a market cap of $13.33 billion, a PE ratio of 18.12, a P/E/G ratio of 5.14 and a beta of 0.98. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49. The company has a 50-day moving average of $46.50 and a two-hundred day moving average of $45.42.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The company had revenue of $380.60 million during the quarter, compared to the consensus estimate of $377.95 million. During the same period in the prior year, the firm posted $0.92 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis. As a group, equities analysts expect that Gaming and Leisure Properties will post 3.67 earnings per share for the current fiscal year.

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 5,605 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $48.89, for a total transaction of $274,028.45. Following the completion of the transaction, the director now owns 156,685 shares in the company, valued at $7,660,329.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GLPI. Wellington Management Group LLP boosted its holdings in shares of Gaming and Leisure Properties by 40.8% in the fourth quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust’s stock valued at $627,204,000 after buying an additional 3,684,553 shares during the period. Norges Bank acquired a new position in shares of Gaming and Leisure Properties in the fourth quarter valued at approximately $141,537,000. Jennison Associates LLC boosted its holdings in shares of Gaming and Leisure Properties by 54.8% in the fourth quarter. Jennison Associates LLC now owns 3,378,874 shares of the real estate investment trust’s stock valued at $166,747,000 after buying an additional 1,195,765 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Gaming and Leisure Properties by 36.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,910,169 shares of the real estate investment trust’s stock valued at $134,074,000 after buying an additional 781,906 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Gaming and Leisure Properties by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,104,552 shares of the real estate investment trust’s stock valued at $185,564,000 after buying an additional 350,250 shares during the period. Institutional investors and hedge funds own 91.14% of the company’s stock.

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.