Royal Bank of Canada Cuts Gaming and Leisure Properties (NASDAQ:GLPI) Price Target to $56.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target lowered by investment analysts at Royal Bank of Canada from $57.00 to $56.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price target suggests a potential upside of 13.14% from the company’s current price.

GLPI has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and increased their price objective for the company from $49.00 to $54.00 in a research note on Wednesday, November 20th. Morgan Stanley lowered shares of Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price objective for the company. in a research note on Wednesday, January 15th. StockNews.com lowered shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Scotiabank decreased their price target on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. upgraded shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $49.00 to $54.00 in a research note on Friday, December 13th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.15.

Gaming and Leisure Properties Trading Up 1.3 %

NASDAQ:GLPI opened at $49.50 on Monday. 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 firm has a market cap of $13.58 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 2.01 and a beta of 0.99. Gaming and Leisure Properties has a 52 week low of $41.80 and a 52 week high of $52.60. The firm has a 50-day moving average price of $48.13 and a two-hundred day moving average price of $49.77.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.95 EPS for the quarter, beating the consensus estimate of $0.94 by $0.01. The firm had revenue of $389.62 million during the quarter, compared to analyst estimates of $391.54 million. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. On average, equities analysts expect that Gaming and Leisure Properties will post 3.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, COO Brandon John Moore sold 3,982 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $47.84, for a total value of $190,498.88. Following the completion of the transaction, the chief operating officer now directly owns 278,634 shares of the company’s stock, valued at $13,329,850.56. This trade represents a 1.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Matthew Demchyk sold 1,149 shares of Gaming and Leisure Properties stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $47.80, for a total transaction of $54,922.20. Following the sale, the senior vice president now directly owns 91,620 shares of the company’s stock, valued at $4,379,436. This represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,222 shares of company stock valued at $1,624,947 in the last three months. Company insiders own 4.37% of the company’s stock.

Institutional Trading of Gaming and Leisure Properties

A number of hedge funds have recently made changes to their positions in the stock. Toronto Dominion Bank lifted its holdings in shares of Gaming and Leisure Properties by 2.5% during the 4th quarter. Toronto Dominion Bank now owns 36,869 shares of the real estate investment trust’s stock worth $1,776,000 after acquiring an additional 905 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Gaming and Leisure Properties during the 4th quarter worth $240,000. Neo Ivy Capital Management bought a new stake in shares of Gaming and Leisure Properties during the 4th quarter worth $3,371,000. Novem Group purchased a new position in Gaming and Leisure Properties in the 4th quarter worth $786,000. Finally, Sophron Capital Management L.P. purchased a new position in Gaming and Leisure Properties in the 4th quarter worth $1,030,000. 91.14% of the stock is owned by institutional investors.

About Gaming and Leisure Properties

Gaming & Leisure Properties, Inc engages in acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.