Gaming and Leisure Properties’ (GLPI) Market Outperform Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of Gaming and Leisure Properties (NASDAQ:GLPI) in a report released on Tuesday morning, Benzinga reports. The firm currently has a $55.00 target price on the real estate investment trust’s stock.

A number of other research firms have also recently weighed in on GLPI. Raymond James raised their price target on Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. StockNews.com cut Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Monday. Wells Fargo & Company restated 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 research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada increased their price target on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and a consensus price target of $52.18.

Gaming and Leisure Properties Stock Down 1.2 %

GLPI opened at $50.19 on Tuesday. The firm has a market cap of $13.77 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 2.19 and a beta of 0.99. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. The firm’s 50-day simple moving average is $51.15 and its 200-day simple moving average is $47.62. Gaming and Leisure Properties has a twelve month low of $41.80 and a twelve month high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings results 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). The firm 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%. Gaming and Leisure Properties’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 earnings per share. Equities research analysts anticipate that Gaming and Leisure Properties will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.06%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 106.29%.

Insider Activity at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, COO Brandon John Moore sold 30,900 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the transaction, the chief operating officer now owns 208,977 shares in the company, valued at approximately $10,459,298.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 12,973 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $52.02, for a total value of $674,855.46. Following the completion of the transaction, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brandon John Moore sold 30,900 shares of the stock in a transaction dated 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 sale, the chief operating officer now owns 208,977 shares of the company’s stock, valued at $10,459,298.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,363 shares of company stock worth $2,840,781. 4.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Gaming and Leisure Properties

Institutional investors and hedge funds have recently modified their holdings of the business. Ignite Planners LLC boosted its holdings in shares of Gaming and Leisure Properties by 1.8% in the second quarter. Ignite Planners LLC now owns 12,181 shares of the real estate investment trust’s stock valued at $543,000 after buying an additional 220 shares during the period. EP Wealth Advisors LLC boosted its stake in Gaming and Leisure Properties by 0.7% in the 2nd quarter. EP Wealth Advisors LLC now owns 33,990 shares of the real estate investment trust’s stock worth $1,537,000 after purchasing an additional 220 shares during the period. Ieq Capital LLC increased its holdings in Gaming and Leisure Properties by 0.3% during the 2nd quarter. Ieq Capital LLC now owns 90,749 shares of the real estate investment trust’s stock worth $4,103,000 after purchasing an additional 257 shares in the last quarter. Marshall Financial Group LLC raised its stake in shares of Gaming and Leisure Properties by 1.4% in the 3rd quarter. Marshall Financial Group LLC now owns 20,917 shares of the real estate investment trust’s stock valued at $1,076,000 after purchasing an additional 289 shares during the period. Finally, Private Advisor Group LLC raised its stake in shares of Gaming and Leisure Properties by 2.7% in the 1st quarter. Private Advisor Group LLC now owns 11,440 shares of the real estate investment trust’s stock valued at $527,000 after purchasing an additional 299 shares during the period. 91.14% of the stock is currently owned by institutional investors and hedge funds.

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.