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

Gaming and Leisure Properties (NASDAQ:GLPI) had its price objective decreased by Wells Fargo & Company from $49.00 to $48.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 9.39% from the stock’s previous close.

A number of other brokerages also recently issued reports on GLPI. JMP Securities reaffirmed a “market outperform” rating and issued a $53.00 price objective on shares of Gaming and Leisure Properties in a research report on Tuesday, May 21st. Royal Bank of Canada cut their price objective on Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Scotiabank raised their target price on Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. Morgan Stanley decreased their price objective on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. Finally, Stifel Nicolaus lifted their price target on shares of Gaming and Leisure Properties from $50.75 to $51.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.31.

Gaming and Leisure Properties Trading Up 0.7 %

Shares of NASDAQ:GLPI traded up $0.31 during mid-day trading on Thursday, reaching $43.88. 398,256 shares of the company’s stock were exchanged, compared to its average volume of 1,354,306. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.47 and a current ratio of 6.47. The business’s fifty day moving average price is $44.34 and its 200-day moving average price is $45.69. The firm has a market capitalization of $11.91 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 5.18 and a beta of 0.94. Gaming and Leisure Properties has a twelve month low of $41.80 and a twelve month high of $50.59.

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

Insider Transactions at Gaming and Leisure Properties

In related news, Director E Scott Urdang acquired 2,500 shares of the stock in a transaction on Friday, March 1st. The stock was purchased at an average price of $45.00 per share, for a total transaction of $112,500.00. Following the completion of the transaction, the director now owns 156,685 shares of the company’s stock, valued at approximately $7,050,825. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Gaming and Leisure Properties

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Soltis Investment Advisors LLC increased its position in shares of Gaming and Leisure Properties by 1.3% in the first quarter. Soltis Investment Advisors LLC now owns 66,840 shares of the real estate investment trust’s stock valued at $3,079,000 after acquiring an additional 844 shares during the period. Cetera Investment Advisers raised its position in Gaming and Leisure Properties by 52.8% during the 1st quarter. Cetera Investment Advisers now owns 54,504 shares of the real estate investment trust’s stock valued at $2,511,000 after purchasing an additional 18,837 shares during the last quarter. Burney Co. lifted its holdings in Gaming and Leisure Properties by 192.7% in the 1st quarter. Burney Co. now owns 141,644 shares of the real estate investment trust’s stock worth $6,526,000 after buying an additional 93,252 shares during the period. California State Teachers Retirement System lifted its holdings in Gaming and Leisure Properties by 1.7% in the 1st quarter. California State Teachers Retirement System now owns 409,511 shares of the real estate investment trust’s stock worth $18,866,000 after buying an additional 6,810 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its position in shares of Gaming and Leisure Properties by 4.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 10,286 shares of the real estate investment trust’s stock worth $469,000 after buying an additional 470 shares during the last quarter. 91.14% of the stock is currently owned by 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.