Gaming and Leisure Properties (NASDAQ:GLPI) Rating Increased to Buy at Deutsche Bank Aktiengesellschaft

Gaming and Leisure Properties (NASDAQ:GLPI) was upgraded by analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a $54.00 target price on the real estate investment trust’s stock, up from their previous target price of $49.00. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 7.46% from the company’s current price.

A number of other equities research analysts have also recently weighed in on GLPI. Mizuho dropped their price objective on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Royal Bank of Canada increased 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 report on Monday, July 29th. Wells Fargo & Company restated an “equal weight” rating and issued a $52.00 price objective (up previously from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. StockNews.com lowered shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Wolfe Research upgraded shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price target for the company in a research note on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.96.

Gaming and Leisure Properties Stock Performance

Shares of Gaming and Leisure Properties stock opened at $50.25 on Wednesday. The firm has a market cap of $13.79 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 2.12 and a beta of 0.99. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. Gaming and Leisure Properties has a 52 week low of $41.80 and a 52 week high of $52.60. The business’s fifty day simple moving average is $50.64 and its 200-day simple moving average is $48.32.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.25). The company had revenue of $385.34 million for the quarter, compared to analysts’ expectations of $385.09 million. Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $0.92 EPS. Equities analysts forecast that Gaming and Leisure Properties will post 3.67 earnings per share for the current year.

Insider Transactions at Gaming and Leisure Properties

In other news, CFO Desiree A. Burke sold 12,973 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $52.02, for a total transaction of $674,855.46. Following the completion of the transaction, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. This represents a 10.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director E Scott Urdang sold 3,000 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $50.39, for a total transaction of $151,170.00. Following the completion of the transaction, the director now owns 146,800 shares of the company’s stock, valued at $7,397,252. This represents a 2.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,758 shares of company stock worth $2,717,922. Corporate insiders own 4.37% of the company’s stock.

Institutional Trading of Gaming and Leisure Properties

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in Gaming and Leisure Properties by 1.4% during the third quarter. State Street Corp now owns 12,135,195 shares of the real estate investment trust’s stock worth $624,356,000 after acquiring an additional 162,484 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Gaming and Leisure Properties by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 6,080,860 shares of the real estate investment trust’s stock worth $312,316,000 after purchasing an additional 161,689 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Gaming and Leisure Properties by 6.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,534,033 shares of the real estate investment trust’s stock worth $284,726,000 after purchasing an additional 341,492 shares during the last quarter. Dimensional Fund Advisors LP grew its position 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 purchasing an additional 350,250 shares during the period. Finally, Jennison Associates LLC increased its stake in Gaming and Leisure Properties by 25.3% in the third quarter. Jennison Associates LLC now owns 4,075,461 shares of the real estate investment trust’s stock valued at $209,682,000 after purchasing an additional 821,634 shares during the last quarter. Hedge funds and other institutional investors 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.