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

Gaming and Leisure Properties (NASDAQ:GLPI) had its target price raised by Stifel Nicolaus from $53.25 to $57.50 in a research report report published on Tuesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the real estate investment trust’s stock.

GLPI has been the topic of several other research reports. Wolfe Research upgraded shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price target on the stock 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 company an “outperform” rating in a research note on Wednesday, August 21st. Mizuho reduced their price target on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. StockNews.com lowered shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and upped their target price for the stock from $49.00 to $54.00 in a report on Wednesday, November 20th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.32.

Gaming and Leisure Properties Price Performance

Shares of Gaming and Leisure Properties stock opened at $51.66 on Tuesday. The company’s fifty day simple moving average is $50.56 and its two-hundred day simple moving average is $48.58. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $52.60. The firm has a market cap of $14.17 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 2.18 and a beta of 0.99. The company has a quick ratio of 11.35, a current 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). Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The business had revenue of $385.34 million for the quarter, compared to analysts’ expectations of $385.09 million. During the same quarter in the prior year, the firm earned $0.92 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities analysts expect that Gaming and Leisure Properties will post 3.67 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.76 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 5.88%. Gaming and Leisure Properties’s dividend payout ratio is currently 106.29%.

Insider Transactions at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 3,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $7,397,252. This represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Gaming and Leisure Properties

A number of hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. increased its holdings in shares of Gaming and Leisure Properties by 2,547.6% in the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 535 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Gaming and Leisure Properties during the second quarter valued at $31,000. EdgeRock Capital LLC bought a new stake in Gaming and Leisure Properties in the 2nd quarter worth about $33,000. Versant Capital Management Inc raised its position in Gaming and Leisure Properties by 18,500.0% in the 2nd quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 740 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in 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 valued at $34,000 after acquiring an additional 384 shares during the period. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

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.