Gaming and Leisure Properties (NASDAQ:GLPI) Price Target Cut to $49.00 by Analysts at Scotiabank

Gaming and Leisure Properties (NASDAQ:GLPI) had its target price reduced by Scotiabank from $50.00 to $49.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

GLPI has been the subject of a number of other research reports. Morgan Stanley downgraded shares of Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price target for the company. in a report on Wednesday. JMP Securities reiterated a “market outperform” rating and issued a $55.00 target price on shares of Gaming and Leisure Properties in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and increased their price target for the company from $49.00 to $54.00 in a report on Wednesday, November 20th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $52.00 price objective (up from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Finally, StockNews.com downgraded shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Six equities 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, Gaming and Leisure Properties has an average rating of “Moderate Buy” and a consensus target price of $53.93.

Gaming and Leisure Properties Stock Performance

NASDAQ:GLPI opened at $48.05 on Thursday. The company has a market cap of $13.18 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.86 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 stock’s 50 day simple moving average is $48.96 and its two-hundred day simple moving average is $49.62. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly 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). Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The business had revenue of $385.34 million during the quarter, compared to the consensus estimate of $385.09 million. During the same quarter in the prior year, the firm posted $0.92 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities analysts anticipate that Gaming and Leisure Properties will post 3.67 earnings per share for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.76 per share. The ex-dividend date was Friday, December 6th. This represents a $3.04 annualized dividend and a yield of 6.33%. Gaming and Leisure Properties’s payout ratio is currently 106.29%.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 6,885 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.16, for a total transaction of $345,351.60. Following the transaction, the director now directly owns 149,800 shares in the company, valued at approximately $7,513,968. This trade represents a 4.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Matthew Demchyk sold 1,149 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $47.80, for a total transaction of $54,922.20. Following the completion of the transaction, the senior vice president now directly owns 91,620 shares of the company’s stock, valued at $4,379,436. This trade represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,016 shares of company stock valued at $741,943 in the last ninety days. Corporate insiders own 4.37% of the company’s stock.

Institutional Investors Weigh In On Gaming and Leisure Properties

A number of hedge funds have recently made changes to their positions in GLPI. Assetmark Inc. grew its stake 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 during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Gaming and Leisure Properties by 142.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 384 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Gaming and Leisure Properties by 578.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 590 shares in the last quarter. Abich Financial Wealth Management LLC grew its position in shares of Gaming and Leisure Properties by 3,191.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 757 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 734 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Gaming and Leisure Properties during the 3rd quarter worth approximately $39,000. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Company Profile

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.