Gaming and Leisure Properties (NASDAQ:GLPI) Given New $49.00 Price Target at Scotiabank

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target lowered by equities research analysts at Scotiabank from $50.00 to $49.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target suggests a potential upside of 2.29% from the company’s current price.

Several other analysts also recently commented on the company. JPMorgan Chase & Co. raised Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $49.00 to $54.00 in a research note on Friday, December 13th. Mizuho lowered their price target on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Morgan Stanley downgraded shares of Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price objective on the stock. in a report on Wednesday. Barclays began 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 target price for the company. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $52.00 price target (up from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Gaming and Leisure Properties currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.93.

Gaming and Leisure Properties Stock Up 2.3 %

Shares of GLPI traded up $1.06 during trading hours on Thursday, reaching $47.90. The stock had a trading volume of 617,008 shares, compared to its average volume of 976,143. The firm has a 50-day simple moving average of $49.02 and a 200 day simple moving average of $49.56. Gaming and Leisure Properties has a 12 month low of $41.80 and a 12 month high of $52.60. 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 company has a market capitalization of $13.14 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 1.86 and a beta of 0.99.

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

Insider Buying and Selling at Gaming and Leisure Properties

In related news, COO Brandon John Moore sold 3,982 shares of the firm’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 of the company’s stock, valued at approximately $13,329,850.56. This trade represents a 1.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director E Scott Urdang sold 6,885 shares of Gaming and Leisure Properties stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.16, for a total value of $345,351.60. Following the completion of the transaction, the director now owns 149,800 shares of the company’s stock, valued at approximately $7,513,968. This trade represents a 4.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,016 shares of company stock worth $741,943 over the last ninety days. 4.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Gaming and Leisure Properties

Several large investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Gaming and Leisure Properties by 647.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,025,526 shares of the real estate investment trust’s stock worth $104,213,000 after purchasing an additional 1,754,370 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Gaming and Leisure Properties by 7.8% in the 3rd quarter. Franklin Resources Inc. now owns 12,259,224 shares of the real estate investment trust’s stock valued at $641,059,000 after purchasing an additional 889,698 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Gaming and Leisure Properties by 25.3% during the 3rd 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. Janus Henderson Group PLC raised its position in Gaming and Leisure Properties by 6,162.9% in the 3rd quarter. Janus Henderson Group PLC now owns 812,981 shares of the real estate investment trust’s stock worth $41,820,000 after purchasing an additional 800,000 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in Gaming and Leisure Properties in the 3rd quarter worth $27,057,000. Institutional investors own 91.14% of the company’s stock.

About Gaming and Leisure Properties

Gaming & Leisure Properties, Inc engages in acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.