Gaming and Leisure Properties’ (GLPI) Market Outperform Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of Gaming and Leisure Properties (NASDAQ:GLPI) in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $55.00 price objective on the real estate investment trust’s stock.

A number of other research firms have also weighed in on GLPI. Wolfe Research raised Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research note on Friday, August 23rd. JPMorgan Chase & Co. raised shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $49.00 to $54.00 in a research report on Friday, December 13th. Raymond James raised their price objective 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. Deutsche Bank Aktiengesellschaft raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and lifted their target price for the stock from $49.00 to $54.00 in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $52.00 price target (up previously from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.00.

Gaming and Leisure Properties Stock Performance

NASDAQ:GLPI opened at $47.08 on Wednesday. The company has a market cap of $12.92 billion, a P/E ratio of 16.46, a P/E/G ratio of 2.10 and a beta of 0.98. Gaming and Leisure Properties has a twelve month low of $41.80 and a twelve month high of $52.60. The company’s 50-day moving average price is $50.26 and its 200-day moving average price is $49.11. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its 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). The business had revenue of $385.34 million during the quarter, compared to analysts’ expectations of $385.09 million. Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $0.92 earnings per share. On average, sell-side analysts forecast that Gaming and Leisure Properties will post 3.67 earnings per share for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date was Friday, December 6th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 106.29%.

Insider Transactions at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 3,000 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $50.39, for a total transaction of $151,170.00. Following the sale, the director now owns 146,800 shares of the company’s stock, valued at approximately $7,397,252. This represents a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.37% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GLPI. EP Wealth Advisors LLC lifted its holdings in Gaming and Leisure Properties by 0.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 33,990 shares of the real estate investment trust’s stock worth $1,537,000 after buying an additional 220 shares in the last quarter. Ieq Capital LLC raised its stake in shares of Gaming and Leisure Properties by 0.3% in the second quarter. Ieq Capital LLC now owns 90,749 shares of the real estate investment trust’s stock valued at $4,103,000 after acquiring an additional 257 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Gaming and Leisure Properties by 5.1% in the third quarter. Integrated Wealth Concepts LLC now owns 5,433 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 262 shares during the period. CIBC Asset Management Inc grew its stake in Gaming and Leisure Properties by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 7,948 shares of the real estate investment trust’s stock worth $409,000 after purchasing an additional 278 shares in the last quarter. Finally, Marshall Financial Group LLC increased its holdings in Gaming and Leisure Properties by 1.4% during the 3rd quarter. Marshall Financial Group LLC now owns 20,917 shares of the real estate investment trust’s stock worth $1,076,000 after purchasing an additional 289 shares during the period. 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.