Scotiabank Boosts Gaming and Leisure Properties (NASDAQ:GLPI) Price Target to $48.00

Gaming and Leisure Properties (NASDAQ:GLPIFree Report) had its target price lifted by Scotiabank from $47.00 to $48.00 in a research note released on Thursday morning, Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley reduced their price target on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an overweight rating for the company in a research report on Thursday, March 21st. StockNews.com cut Gaming and Leisure Properties from a buy rating to a hold rating in a research note on Thursday, May 9th. Mizuho dropped their price objective on Gaming and Leisure Properties from $47.00 to $46.00 and set a neutral rating on the stock in a research report on Friday, May 10th. JMP Securities reissued a market outperform rating and issued a $53.00 target price on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. Finally, Royal Bank of Canada dropped their price target on shares of Gaming and Leisure Properties from $49.00 to $47.00 and set an outperform rating on the stock in a report on Monday, April 29th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $51.46.

Get Our Latest Stock Report on Gaming and Leisure Properties

Gaming and Leisure Properties Stock Up 0.8 %

Shares of NASDAQ:GLPI opened at $46.04 on Thursday. The company has a current ratio of 6.47, a quick ratio of 6.47 and a debt-to-equity ratio of 1.49. The stock has a fifty day simple moving average of $44.46 and a two-hundred day simple moving average of $45.71. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $50.59. The stock has a market capitalization of $12.50 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 5.42 and a beta of 0.94.

Gaming and Leisure Properties (NASDAQ:GLPIGet Free Report) last posted its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.26). Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. The company had revenue of $376.00 million during the quarter, compared to analysts’ expectations of $368.44 million. During the same period in the prior year, the firm earned $0.92 EPS. Gaming and Leisure Properties’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, research analysts anticipate that Gaming and Leisure Properties will post 3.66 earnings per share for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.76 per share. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.60%. Gaming and Leisure Properties’s payout ratio is presently 112.18%.

Insider Buying and Selling

In related news, Director E Scott Urdang purchased 2,500 shares of the business’s stock in a transaction on Friday, March 1st. The stock was acquired at an average price of $45.00 per share, with a total value of $112,500.00. Following the completion of the acquisition, the director now owns 156,685 shares of the company’s stock, valued at approximately $7,050,825. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.40% of the stock is owned by insiders.

Institutional Trading of Gaming and Leisure Properties

A number of hedge funds and other institutional investors have recently modified their holdings of GLPI. International Assets Investment Management LLC bought a new position in Gaming and Leisure Properties in the 4th quarter worth $2,501,000. GraniteShares Advisors LLC purchased a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth about $1,473,000. Pacer Advisors Inc. raised its stake in Gaming and Leisure Properties by 107.4% during the 4th quarter. Pacer Advisors Inc. now owns 45,803 shares of the real estate investment trust’s stock valued at $2,260,000 after purchasing an additional 23,722 shares during the period. Signature Wealth Management Group purchased a new position in Gaming and Leisure Properties in the 4th quarter worth approximately $3,944,000. Finally, Louisiana State Employees Retirement System bought a new position in Gaming and Leisure Properties in the 4th quarter worth approximately $3,701,000. 91.14% of the stock is owned by hedge funds and other institutional investors.

About Gaming and Leisure Properties

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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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