Gaming and Leisure Properties (NASDAQ:GLPI) Price Target Raised to $57.50 at Stifel Nicolaus

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target raised by Stifel Nicolaus from $53.25 to $57.50 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

A number of other brokerages also recently issued reports on GLPI. JMP Securities reissued a “market outperform” rating and set a $55.00 price objective on shares of Gaming and Leisure Properties in a research report on Tuesday, October 29th. Wells Fargo & Company reissued an “equal weight” rating and set a $52.00 price target (up previously from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Wolfe Research upgraded Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price target for the company in a research report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $54.00 in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada increased their target price on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and an average price target of $53.32.

Gaming and Leisure Properties Stock Up 1.0 %

GLPI stock opened at $51.66 on Tuesday. The company has a market cap of $14.17 billion, a price-to-earnings ratio of 18.06, a P/E/G ratio of 2.18 and a beta of 0.99. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. The business’s 50-day moving average is $50.56 and its two-hundred day moving average is $48.58. 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 issued its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.25). The business had revenue of $385.34 million during the quarter, compared to the consensus estimate of $385.09 million. Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. Gaming and Leisure Properties’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $0.92 EPS. As a group, analysts forecast 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 will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.76 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.04 annualized dividend and a dividend yield of 5.88%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 106.29%.

Insider Buying and Selling

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 3,000 shares of Gaming and Leisure Properties stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $50.39, for a total value of $151,170.00. Following the sale, the director now owns 146,800 shares of the company’s stock, valued at $7,397,252. The trade was a 2.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Assetmark Inc. lifted 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 during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Gaming and Leisure Properties during the 2nd quarter valued at about $31,000. EdgeRock Capital LLC bought a new position in shares of Gaming and Leisure Properties in the 2nd quarter valued at about $33,000. Versant Capital Management Inc grew its position in Gaming and Leisure Properties by 18,500.0% in 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 increased its stake 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 worth $34,000 after acquiring an additional 384 shares during the last quarter. 91.14% of the stock is 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.