Gaming and Leisure Properties (NASDAQ:GLPI) Upgraded at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a hold rating to a buy rating in a research note released on Wednesday morning, Marketbeat.com reports. They currently have $54.00 price target on the real estate investment trust’s stock, up from their previous price target of $49.00.

Other research analysts have also issued reports about the company. StockNews.com lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Raymond James boosted their price target on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Mizuho decreased their price objective on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Royal Bank of Canada boosted their target price on Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $55.00 price target on shares of Gaming and Leisure Properties in a research note on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.96.

Gaming and Leisure Properties Trading Up 0.5 %

Shares of NASDAQ:GLPI opened at $50.92 on Wednesday. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. The company’s 50-day moving average price is $50.58 and its 200 day moving average price is $48.35. The company has a market cap of $13.97 billion, a PE ratio of 17.80, a P/E/G ratio of 2.16 and a beta of 0.99. Gaming and Leisure Properties has a fifty-two week low of $41.80 and a fifty-two week high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share 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 the consensus estimate of $385.09 million. During the same period last year, the firm posted $0.92 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts anticipate that Gaming and Leisure Properties will post 3.67 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 5.97%. The ex-dividend date of this dividend was Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 106.29%.

Insider Activity

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 6,885 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.16, for a total transaction of $345,351.60. Following the sale, the director now directly owns 149,800 shares of the company’s stock, valued at $7,513,968. The trade was a 4.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Desiree A. Burke sold 12,973 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $52.02, for a total value of $674,855.46. Following the completion of the sale, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. This trade represents a 10.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,858 shares of company stock worth $1,171,377 over the last 90 days. 4.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Gaming and Leisure Properties

A number of large investors have recently made changes to their positions in the business. Assetmark Inc. grew its position in Gaming and Leisure Properties by 2,547.6% during the third quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 535 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Gaming and Leisure Properties during the 2nd quarter valued at $31,000. EdgeRock Capital LLC acquired a new position in shares of Gaming and Leisure Properties in the second quarter worth $33,000. Versant Capital Management Inc raised its holdings in shares of Gaming and Leisure Properties by 18,500.0% during the second quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 740 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Gaming and Leisure Properties by 142.2% during the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 384 shares during the last quarter. Institutional investors and hedge funds own 91.14% of the company’s stock.

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.