Gaming and Leisure Properties (NASDAQ:GLPI) Price Target Raised to $53.00 at Royal Bank of Canada

Gaming and Leisure Properties (NASDAQ:GLPI) had its price objective upped by research analysts at Royal Bank of Canada from $52.00 to $53.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 6.68% from the company’s current price.

GLPI has been the subject of a number of other research reports. Wedbush restated an “outperform” rating and issued a $51.00 price target on shares of Gaming and Leisure Properties in a research report on Friday, May 17th. Wells Fargo & Company dropped 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 research report on Thursday, May 30th. Mizuho decreased their price objective on Gaming and Leisure Properties from $47.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. Stifel Nicolaus increased their price objective on Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a “buy” rating in a research note on Friday. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $53.00 price objective on shares of Gaming and Leisure Properties in a research note on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $51.50.

Gaming and Leisure Properties Stock Performance

Shares of Gaming and Leisure Properties stock traded up $0.23 during trading hours on Monday, hitting $49.68. 79,966 shares of the company were exchanged, compared to its average volume of 1,331,296. Gaming and Leisure Properties has a 1 year low of $41.80 and a 1 year high of $49.99. 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 business has a 50-day moving average of $45.43 and a 200-day moving average of $45.18. The stock has a market capitalization of $13.63 billion, a price-to-earnings ratio of 18.33, a P/E/G ratio of 5.82 and a beta of 0.98.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.15). The business had revenue of $380.60 million during the quarter, compared to analysts’ expectations of $377.95 million. Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 EPS. As a group, analysts expect that Gaming and Leisure Properties will post 3.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Gaming and Leisure Properties

Hedge funds have recently modified their holdings of the stock. Foundations Investment Advisors LLC increased its holdings in Gaming and Leisure Properties by 4.9% during the 4th quarter. Foundations Investment Advisors LLC now owns 7,583 shares of the real estate investment trust’s stock worth $352,000 after purchasing an additional 354 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Gaming and Leisure Properties by 27.4% in the 1st quarter. Russell Investments Group Ltd. now owns 309,882 shares of the real estate investment trust’s stock worth $14,276,000 after acquiring an additional 66,601 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Gaming and Leisure Properties in the 4th quarter worth approximately $2,501,000. GraniteShares Advisors LLC acquired a new position in Gaming and Leisure Properties during the 4th quarter valued at approximately $1,473,000. Finally, Treasurer of the State of North Carolina boosted its position in Gaming and Leisure Properties by 19.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 153,195 shares of the real estate investment trust’s stock valued at $7,560,000 after purchasing an additional 24,489 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.