Gaming and Leisure Properties (NASDAQ:GLPI) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Gaming and Leisure Properties (NASDAQ:GLPI) had its target price upped by equities researchers at Stifel Nicolaus from $53.25 to $57.50 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Stifel Nicolaus’ price target suggests a potential upside of 11.30% from the stock’s previous close.

A number of other equities analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and upped their target price for the stock from $49.00 to $54.00 in a research report on Wednesday, November 20th. Wells Fargo & Company reiterated an “equal weight” rating and set a $52.00 target price (up from $51.00) on shares of Gaming and Leisure Properties in a research report on Tuesday, October 1st. Wolfe Research upgraded shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research report on Friday, August 23rd. StockNews.com lowered shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, JMP Securities restated a “market outperform” rating and issued a $55.00 price objective on shares of Gaming and Leisure Properties in a report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Gaming and Leisure Properties has a consensus rating of “Moderate Buy” and an average price target of $53.32.

Gaming and Leisure Properties Price Performance

Shares of Gaming and Leisure Properties stock opened at $51.66 on Tuesday. 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 market capitalization of $14.17 billion, a price-to-earnings ratio of 18.06, a P/E/G ratio of 2.18 and a beta of 0.99. Gaming and Leisure Properties has a 1-year low of $41.80 and a 1-year high of $52.60. The firm’s 50-day moving average price is $50.55 and its two-hundred day moving average price is $48.56.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The company had revenue of $385.34 million for the quarter, compared to analyst estimates of $385.09 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. Gaming and Leisure Properties’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts predict that Gaming and Leisure Properties will post 3.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Desiree A. Burke sold 12,973 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $52.02, for a total transaction of $674,855.46. Following the completion of the sale, the chief financial officer now owns 108,073 shares of the company’s stock, valued at $5,621,957.46. This represents a 10.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director E Scott Urdang sold 3,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $50.39, for a total transaction of $151,170.00. Following the sale, the director now directly 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 three months, insiders have sold 22,858 shares of company stock worth $1,171,377. Company insiders own 4.37% of the company’s stock.

Institutional Investors Weigh In On Gaming and Leisure Properties

Several large investors have recently made changes to their positions in GLPI. Assetmark Inc. grew its position in Gaming and Leisure Properties by 2,547.6% in the third quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 535 shares in the last quarter. Farther Finance Advisors LLC grew its position in Gaming and Leisure Properties by 142.2% in the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 384 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Gaming and Leisure Properties in the second quarter valued at $31,000. EverSource Wealth Advisors LLC grew its position in Gaming and Leisure Properties by 578.4% in the second quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 590 shares in the last quarter. Finally, EdgeRock Capital LLC bought a new position in Gaming and Leisure Properties in the second quarter valued at $33,000. 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.