Gaming and Leisure Properties (NASDAQ:GLPI) Receives Market Outperform Rating from JMP Securities

Gaming and Leisure Properties (NASDAQ:GLPI)‘s stock had its “market outperform” rating reaffirmed by JMP Securities in a report issued on Wednesday,Benzinga reports. They currently have a $55.00 price objective on the real estate investment trust’s stock. JMP Securities’ price target points to a potential upside of 12.11% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. StockNews.com lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Barclays assumed coverage on Gaming and Leisure Properties in a research note on Tuesday. They set an “equal weight” rating and a $54.53 price target for the company. Wolfe Research upgraded shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research report on Friday, August 23rd. Mizuho cut their price objective on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $52.00 target price (up previously from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Gaming and Leisure Properties has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Gaming and Leisure Properties Stock Up 0.1 %

Shares of NASDAQ GLPI opened at $49.06 on Wednesday. The stock has a market cap of $13.46 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 2.10 and a beta of 0.98. Gaming and Leisure Properties has a 52-week low of $41.80 and a 52-week high of $52.60. The business has a 50-day moving average price of $50.46 and a 200 day moving average price of $49.11. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The business had revenue of $385.34 million for the quarter, compared to analysts’ expectations of $385.09 million. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $0.92 earnings per share. Equities research analysts forecast that Gaming and Leisure Properties will post 3.67 earnings per share for the current year.

Insider Activity

In other news, Director E Scott Urdang sold 6,885 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.16, for a total value of $345,351.60. Following the completion of the transaction, the director now directly owns 149,800 shares in the company, valued at approximately $7,513,968. This represents a 4.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.37% of the company’s stock.

Institutional Investors Weigh In On Gaming and Leisure Properties

Several hedge funds and other institutional investors have recently bought and sold shares of GLPI. Assetmark Inc. lifted its holdings in Gaming and Leisure Properties by 2,547.6% during the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 535 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Gaming and Leisure Properties during the second quarter worth $31,000. EdgeRock Capital LLC bought a new position in Gaming and Leisure Properties during the second quarter worth $33,000. Farther Finance Advisors LLC boosted its holdings in Gaming and Leisure Properties by 142.2% in the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 384 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Gaming and Leisure Properties by 578.4% during the second quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 590 shares during the last quarter. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

About Gaming and Leisure Properties

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.