Gaming and Leisure Properties (NASDAQ:GLPI) PT Raised to $55.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its price objective upped by stock analysts at JMP Securities from $53.00 to $55.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “market outperform” rating on the real estate investment trust’s stock. JMP Securities’ target price would suggest a potential upside of 12.02% from the company’s current price.

Several other research analysts have also recently commented on the stock. Scotiabank upped 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 report on Tuesday, July 16th. Wedbush restated 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. StockNews.com upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus upped their price target on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a “buy” rating in a research note on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.38.

Gaming and Leisure Properties Price Performance

Shares of NASDAQ:GLPI opened at $49.10 on Monday. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.49. Gaming and Leisure Properties has a fifty-two week low of $41.80 and a fifty-two week high of $50.74. The firm has a 50-day simple moving average of $46.50 and a 200 day simple moving average of $45.42. The company has a market cap of $13.33 billion, a PE ratio of 18.12, a P/E/G ratio of 5.14 and a beta of 0.98.

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

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 5,605 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $48.89, for a total transaction of $274,028.45. Following the completion of the sale, the director now directly owns 156,685 shares of the company’s stock, valued at $7,660,329.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Gaming and Leisure Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLPI. Frank Rimerman Advisors LLC purchased a new stake in shares of Gaming and Leisure Properties in the 2nd quarter valued at approximately $1,224,000. Sei Investments Co. lifted its position in shares of Gaming and Leisure Properties by 11.4% in the 2nd quarter. Sei Investments Co. now owns 539,593 shares of the real estate investment trust’s stock valued at $24,395,000 after acquiring an additional 55,385 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Gaming and Leisure Properties by 23.8% in the 2nd quarter. Pacer Advisors Inc. now owns 49,852 shares of the real estate investment trust’s stock valued at $2,254,000 after acquiring an additional 9,568 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Gaming and Leisure Properties by 260.7% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 189,415 shares of the real estate investment trust’s stock valued at $8,563,000 after acquiring an additional 136,900 shares in the last quarter. Finally, AE Wealth Management LLC lifted its position in shares of Gaming and Leisure Properties by 6.7% in the 2nd quarter. AE Wealth Management LLC now owns 8,076 shares of the real estate investment trust’s stock valued at $365,000 after acquiring an additional 508 shares in the last quarter. 91.14% of the stock is owned by institutional investors and hedge funds.

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.