Gaming and Leisure Properties (NASDAQ:GLPI) Price Target Raised to $50.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its target price boosted by Morgan Stanley from $49.00 to $50.00 in a report released on Tuesday, AnalystRatings.com reports. Morgan Stanley currently has an overweight rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued research reports about the stock. BidaskClub raised shares of Gaming and Leisure Properties from a buy rating to a strong-buy rating in a research report on Thursday, January 16th. Macquarie started coverage on shares of Gaming and Leisure Properties in a research report on Thursday, October 24th. They issued an outperform rating and a $44.00 price target for the company. Zacks Investment Research cut shares of Gaming and Leisure Properties from a strong-buy rating to a hold rating in a research report on Saturday, January 4th. ValuEngine cut shares of Gaming and Leisure Properties from a hold rating to a sell rating in a research report on Wednesday, October 2nd. Finally, Deutsche Bank reissued a buy rating and issued a $46.00 price target on shares of Gaming and Leisure Properties in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Gaming and Leisure Properties currently has a consensus rating of Buy and a consensus target price of $44.75.

Shares of NASDAQ:GLPI traded down $0.08 during mid-day trading on Tuesday, reaching $46.27. 598,607 shares of the company were exchanged, compared to its average volume of 809,744. The company has a debt-to-equity ratio of 2.82, a current ratio of 3.24 and a quick ratio of 3.24. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of 31.05, a P/E/G ratio of 1.36 and a beta of 0.51. The firm’s 50-day simple moving average is $43.30 and its 200 day simple moving average is $40.27. Gaming and Leisure Properties has a 1 year low of $35.39 and a 1 year high of $46.52.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.41). Gaming and Leisure Properties had a net margin of 27.62% and a return on equity of 14.76%. The business had revenue of $287.61 million during the quarter, compared to analysts’ expectations of $288.09 million. During the same period in the prior year, the business earned $0.76 EPS. The business’s quarterly revenue was up 13.2% on a year-over-year basis. On average, research analysts forecast that Gaming and Leisure Properties will post 3.36 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.70 per share. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a dividend yield of 6.05%. The ex-dividend date was Thursday, December 12th. Gaming and Leisure Properties’s payout ratio is 88.05%.

In related news, SVP Brandon John Moore sold 5,024 shares of Gaming and Leisure Properties stock in a transaction on Monday, January 6th. The shares were sold at an average price of $43.08, for a total transaction of $216,433.92. Following the sale, the senior vice president now directly owns 134,441 shares in the company, valued at approximately $5,791,718.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Desiree A. Burke sold 35,777 shares of Gaming and Leisure Properties stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $43.09, for a total transaction of $1,541,630.93. Following the sale, the chief accounting officer now owns 139,944 shares in the company, valued at $6,030,186.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 10,000 shares of company stock valued at $418,875 and have sold 45,801 shares valued at $1,983,065. 6.05% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. Lenox Wealth Advisors LLC acquired a new stake in Gaming and Leisure Properties during the 3rd quarter worth $32,000. Evoke Wealth LLC acquired a new stake in Gaming and Leisure Properties during the 3rd quarter worth $47,000. Huntington National Bank raised its stake in Gaming and Leisure Properties by 76.0% during the 4th quarter. Huntington National Bank now owns 1,264 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 546 shares in the last quarter. Centaurus Financial Inc. raised its stake in Gaming and Leisure Properties by 2,495.4% during the 2nd quarter. Centaurus Financial Inc. now owns 3,400 shares of the real estate investment trust’s stock worth $133,000 after acquiring an additional 3,269 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Gaming and Leisure Properties during the 3rd quarter worth $172,000. Hedge funds and other institutional investors own 85.81% 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.

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Analyst Recommendations for Gaming and Leisure Properties (NASDAQ:GLPI)

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