Gaming and Leisure Properties’ (GLPI) “Market Outperform” Rating Reaffirmed at JMP Securities

Gaming and Leisure Properties (NASDAQ:GLPI)‘s stock had its “market outperform” rating reaffirmed by JMP Securities in a report released on Wednesday,Benzinga reports. They currently have a $55.00 price target on the real estate investment trust’s stock. JMP Securities’ target price indicates a potential upside of 12.11% from the stock’s current price.

GLPI has been the subject of a number of other research reports. Wells Fargo & Company reiterated an “equal weight” rating and issued a $52.00 price target (up previously from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. 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. JPMorgan Chase & Co. upgraded shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $49.00 to $54.00 in a report on Friday, December 13th. Raymond James raised their price objective on Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft raised 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 research note on Wednesday, November 20th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Gaming and Leisure Properties Stock Performance

GLPI stock opened at $49.06 on Wednesday. The stock has a market capitalization of $13.46 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 2.10 and a beta of 0.98. The stock’s 50 day simple moving average is $50.46 and its 200 day simple moving average is $49.11. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $52.60. 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 announced its quarterly 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 company had revenue of $385.34 million for the quarter, compared to analysts’ expectations of $385.09 million. Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 EPS. As a group, research analysts forecast that Gaming and Leisure Properties will post 3.67 earnings per share for the current fiscal year.

Insider Activity at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 3,000 shares of Gaming and Leisure Properties stock in a transaction on Monday, November 4th. The stock was sold at an average price of $50.39, for a total value of $151,170.00. Following the sale, the director now owns 146,800 shares in the company, valued at $7,397,252. The trade was a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Gaming and Leisure Properties

A number of institutional investors have recently modified their holdings of the company. Assetmark Inc. lifted its holdings in Gaming and Leisure Properties by 2,547.6% during the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 535 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Gaming and Leisure Properties by 142.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 384 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Gaming and Leisure Properties during the second quarter worth $31,000. EverSource Wealth Advisors LLC boosted its position in shares of Gaming and Leisure Properties by 578.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 590 shares in the last quarter. Finally, EdgeRock Capital LLC purchased a new stake in Gaming and Leisure Properties during the second quarter worth approximately $33,000. 91.14% of the stock is owned by institutional investors and hedge funds.

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.