Gaming and Leisure Properties (NASDAQ:GLPI) Price Target Raised to $55.00 at JMP Securities

Gaming and Leisure Properties (NASDAQ:GLPI) had its price objective upped by JMP Securities from $53.00 to $55.00 in a research report report published on Monday morning, Benzinga reports. They currently have a market outperform rating on the real estate investment trust’s stock.

A number of other brokerages have also recently commented on GLPI. Wedbush reiterated an outperform rating and issued a $51.00 target price on shares of Gaming and Leisure Properties in a research report on Friday, May 17th. Scotiabank raised their target price on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a sector perform rating in a research note on Tuesday, July 16th. Royal Bank of Canada boosted their price objective on Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an outperform rating in a research note on Monday, July 29th. UBS Group boosted their target price on shares of Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a buy rating in a report on Tuesday, July 16th. Finally, Wells Fargo & Company lowered their price target on Gaming and Leisure Properties from $49.00 to $48.00 and set an equal weight rating for the company in a report on Thursday, May 30th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Gaming and Leisure Properties presently has a consensus rating of Moderate Buy and an average target price of $51.38.

Gaming and Leisure Properties Trading Down 0.4 %

GLPI stock opened at $49.14 on Monday. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $50.74. The business’s 50-day moving average is $46.42 and its 200 day moving average is $45.40. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49. The stock has a market cap of $13.34 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 5.14 and a beta of 0.98.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.15). Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The firm had revenue of $380.60 million during the quarter, compared to analysts’ expectations of $377.95 million. During the same quarter last year, the business earned $0.92 EPS. The business’s revenue was up 6.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Gaming and Leisure Properties will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were issued a $0.76 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.04 dividend on an annualized basis and a yield of 6.19%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 112.18%.

Insider Buying and Selling

In other news, Director E Scott Urdang sold 5,605 shares of Gaming and Leisure Properties stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the completion of the transaction, the director now owns 156,685 shares in the company, valued at approximately $7,660,329.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gaming and Leisure Properties

Large investors have recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of Gaming and Leisure Properties during the fourth quarter worth $30,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Gaming and Leisure Properties in the 2nd quarter valued at about $31,000. EdgeRock Capital LLC acquired a new stake in shares of Gaming and Leisure Properties during the 4th quarter worth about $33,000. MCF Advisors LLC lifted its stake in Gaming and Leisure Properties by 416.7% during the first quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 600 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Gaming and Leisure Properties by 18,500.0% in the second quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 740 shares in the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.

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.