Analysts Set Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Price Target at $52.18

Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) have received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $52.54.

A number of equities analysts recently commented on GLPI shares. Stifel Nicolaus lifted their price objective on Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a “buy” rating in a research note on Friday, July 26th. 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 for the company in a report on Friday, August 23rd. Raymond James lifted their target price on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Wells Fargo & Company reaffirmed 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. Finally, JMP Securities restated a “market outperform” rating and issued a $55.00 price target on shares of Gaming and Leisure Properties in a research report on Tuesday, October 29th.

Insider Activity

In other Gaming and Leisure Properties news, 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brandon John Moore sold 30,900 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $50.05, for a total value of $1,546,545.00. Following the completion of the transaction, the chief operating officer now owns 208,977 shares in the company, valued at $10,459,298.85. This represents a 12.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,758 shares of company stock worth $2,717,922. 4.37% of the stock is owned by corporate insiders.

Institutional Trading of Gaming and Leisure Properties

A number of institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Gaming and Leisure Properties by 647.0% during 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 buying an additional 1,754,370 shares during the period. Jennison Associates LLC increased its stake in shares of 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 worth $209,682,000 after purchasing an additional 821,634 shares in the last quarter. Janus Henderson Group PLC boosted its stake 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. Price T Rowe Associates Inc. MD increased 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 worth $134,074,000 after purchasing an additional 781,906 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of Gaming and Leisure Properties during the 3rd quarter worth $27,057,000. 91.14% of the stock is currently owned by institutional investors.

Gaming and Leisure Properties Price Performance

Shares of Gaming and Leisure Properties stock opened at $49.19 on Wednesday. Gaming and Leisure Properties has a 1-year low of $41.80 and a 1-year high of $52.60. The stock has a market capitalization of $13.50 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 2.11 and a beta of 0.99. The firm has a fifty day simple moving average of $50.74 and a 200-day simple moving average of $48.15. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted 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). The business had revenue of $385.34 million during the quarter, compared to analyst estimates 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 revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 earnings per share. On average, sell-side analysts expect that Gaming and Leisure Properties will post 3.67 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.76 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.18%. Gaming and Leisure Properties’s dividend payout ratio is 106.29%.

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.