Gaming and Leisure Properties (NASDAQ:GLPI) Price Target Raised to $57.50

Gaming and Leisure Properties (NASDAQ:GLPI) had its target price boosted by equities research analysts at Stifel Nicolaus from $53.25 to $57.50 in a note issued to investors 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 12.13% from the stock’s previous close.

Several other research firms also recently commented on GLPI. Royal Bank of Canada boosted their target price on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and lifted their price target for the stock from $49.00 to $54.00 in a report on Wednesday, November 20th. Raymond James upped their price target on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Mizuho decreased their price objective on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Finally, 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. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.32.

Gaming and Leisure Properties Trading Up 0.7 %

GLPI opened at $51.28 on Tuesday. The company has a market cap of $14.07 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 2.16 and a beta of 0.99. The company has a fifty day moving average price of $50.56 and a two-hundred day moving average price of $48.51. 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 has a 1-year low of $41.80 and a 1-year high of $52.60.

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). Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The firm had revenue of $385.34 million during the quarter, compared to analyst estimates of $385.09 million. During the same period last year, the business posted $0.92 EPS. The company’s revenue was up 7.2% on a year-over-year basis. Analysts predict that Gaming and Leisure Properties will post 3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 12,973 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $52.02, for a total value of $674,855.46. Following the completion of the sale, the chief financial officer now directly owns 108,073 shares in the company, valued at $5,621,957.46. This trade represents a 10.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director E Scott Urdang sold 6,885 shares of the firm’s 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 transaction, the director now directly owns 149,800 shares of the company’s stock, valued at $7,513,968. This represents a 4.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,858 shares of company stock worth $1,171,377. 4.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gaming and Leisure Properties

Large investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Gaming and Leisure Properties by 647.0% in the third 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 last quarter. Jennison Associates LLC boosted its stake in 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 boosted its stake in Gaming and Leisure Properties by 6,162.9% during the 3rd quarter. Janus Henderson Group PLC now owns 812,981 shares of the real estate investment trust’s stock valued at $41,820,000 after purchasing an additional 800,000 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Gaming and Leisure Properties in the 3rd quarter worth $27,057,000. Finally, Barclays PLC raised its stake in shares of Gaming and Leisure Properties by 129.1% in the third quarter. Barclays PLC now owns 896,831 shares of the real estate investment trust’s stock worth $46,142,000 after purchasing an additional 505,382 shares during the last quarter. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Company Profile

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.