Brokerages Set Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Price Target at $54.00

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) has received an average rating of “Moderate Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $54.00.

A number of equities research analysts have commented on the stock. Barclays assumed coverage on shares of Gaming and Leisure Properties in a report on Tuesday, December 17th. They issued an “equal weight” rating and a $54.53 price objective on the stock. Stifel Nicolaus raised their price target on Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a “buy” rating in a research note on Tuesday, November 26th. JMP Securities reaffirmed a “market outperform” rating and set a $55.00 price target on shares of Gaming and Leisure Properties in a report on Wednesday, December 18th. Mizuho dropped their price objective on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $52.00 target price (up previously from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st.

Gaming and Leisure Properties Trading Down 0.5 %

NASDAQ:GLPI opened at $47.63 on Thursday. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $52.60. The firm has a market cap of $13.07 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 2.13 and a beta of 0.98. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. The stock has a fifty day moving average price of $49.54 and a 200 day moving average price of $49.49.

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

Gaming and Leisure Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 6.38%. The ex-dividend date of this dividend was Friday, December 6th. Gaming and Leisure Properties’s dividend payout ratio is currently 106.29%.

Insiders Place Their Bets

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 6,885 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.16, for a total transaction of $345,351.60. Following the completion of the sale, the director now directly owns 149,800 shares of the company’s stock, valued at approximately $7,513,968. This trade represents a 4.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brandon John Moore sold 3,982 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $47.84, for a total value of $190,498.88. Following the completion of the transaction, the chief operating officer now directly owns 278,634 shares in the company, valued at approximately $13,329,850.56. The trade was a 1.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,016 shares of company stock valued at $741,943. Insiders own 4.37% of the company’s stock.

Hedge Funds Weigh In On Gaming and Leisure Properties

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. EP Wealth Advisors LLC lifted its stake in shares of Gaming and Leisure Properties by 0.7% in the 2nd quarter. EP Wealth Advisors LLC now owns 33,990 shares of the real estate investment trust’s stock worth $1,537,000 after acquiring an additional 220 shares during the period. GAMMA Investing LLC lifted its position in Gaming and Leisure Properties by 8.7% in the fourth quarter. GAMMA Investing LLC now owns 2,826 shares of the real estate investment trust’s stock valued at $136,000 after purchasing an additional 226 shares during the period. Ieq Capital LLC boosted its holdings in Gaming and Leisure Properties by 0.3% in the 2nd quarter. Ieq Capital LLC now owns 90,749 shares of the real estate investment trust’s stock valued at $4,103,000 after purchasing an additional 257 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Gaming and Leisure Properties by 5.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 5,433 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 262 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in Gaming and Leisure Properties by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 7,948 shares of the real estate investment trust’s stock worth $409,000 after purchasing an additional 278 shares during the period. 91.14% of the stock is currently owned by hedge funds and other 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.