Gaming and Leisure Properties (NASDAQ:GLPI) Price Target Raised to $54.00 at Barclays

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target hoisted by Barclays from $53.00 to $54.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust’s stock.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada decreased their target price on shares of Gaming and Leisure Properties from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. Mizuho raised their target price on Gaming and Leisure Properties from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Wells Fargo & Company lifted their target price on Gaming and Leisure Properties from $50.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. Scotiabank decreased their price target on Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. Finally, Morgan Stanley cut shares of Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price objective on the stock. in a research note on Wednesday, January 15th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $54.18.

Gaming and Leisure Properties Trading Down 1.1 %

NASDAQ:GLPI opened at $49.03 on Tuesday. The firm has a market capitalization of $13.48 billion, a P/E ratio of 17.08, a P/E/G ratio of 2.01 and a beta of 0.72. The business has a 50 day simple moving average of $49.45 and a 200 day simple moving average of $49.35. 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 has a 12-month low of $42.20 and a 12-month high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. Equities research analysts predict that Gaming and Leisure Properties will post 3.81 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 6.20%. The ex-dividend date of this dividend was Friday, March 14th. Gaming and Leisure Properties’s dividend payout ratio is presently 105.92%.

Insider Buying and Selling

In related news, SVP Matthew Demchyk sold 17,617 shares of Gaming and Leisure Properties stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $49.40, for a total value of $870,279.80. Following the transaction, the senior vice president now owns 54,140 shares of the company’s stock, valued at approximately $2,674,516. This trade represents a 24.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director E Scott Urdang sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $50.89, for a total transaction of $254,450.00. Following the sale, the director now directly owns 140,953 shares of the company’s stock, valued at $7,173,098.17. This represents a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,459 shares of company stock worth $2,024,241 in the last three months. 4.37% of the stock is currently owned by insiders.

Institutional Trading of Gaming and Leisure Properties

Several large investors have recently added to or reduced their stakes in the company. Dodge & Cox raised its position in Gaming and Leisure Properties by 75.3% during the fourth quarter. Dodge & Cox now owns 13,498,634 shares of the real estate investment trust’s stock valued at $650,094,000 after buying an additional 5,797,299 shares during the period. Franklin Resources Inc. increased its holdings in shares of Gaming and Leisure Properties by 4.7% in the 4th quarter. Franklin Resources Inc. now owns 12,830,944 shares of the real estate investment trust’s stock valued at $617,938,000 after purchasing an additional 571,720 shares during the period. Geode Capital Management LLC lifted its position in shares of Gaming and Leisure Properties by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 6,245,884 shares of the real estate investment trust’s stock worth $300,395,000 after purchasing an additional 165,024 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Gaming and Leisure Properties by 5.2% during the fourth quarter. Jennison Associates LLC now owns 4,287,118 shares of the real estate investment trust’s stock worth $206,468,000 after purchasing an additional 211,657 shares during the period. Finally, Norges Bank purchased a new position in Gaming and Leisure Properties during the fourth quarter valued at approximately $176,123,000. 91.14% of the stock is owned by institutional investors and hedge funds.

Gaming and Leisure Properties Company Profile

Gaming & Leisure Properties, Inc engages in the provision of 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.