Gaming and Leisure Properties (NASDAQ:GLPI) Upgraded at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a hold rating to a buy rating in a report issued on Wednesday, Marketbeat.com reports. The firm currently has $54.00 price target on the real estate investment trust’s stock, up from their previous price target of $49.00.

GLPI has been the topic of several other research reports. Mizuho lowered their price target on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. JMP Securities reiterated a “market outperform” rating and issued a $55.00 target price on shares of Gaming and Leisure Properties in a research note on Tuesday, October 29th. StockNews.com lowered shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Raymond James raised their price target on Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada boosted their price objective on Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.96.

Gaming and Leisure Properties Stock Up 0.5 %

GLPI stock opened at $50.92 on Wednesday. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. The firm has a market cap of $13.97 billion, a PE ratio of 17.80, a PEG ratio of 2.16 and a beta of 0.99. Gaming and Leisure Properties has a 1 year low of $41.80 and a 1 year high of $52.60. The company has a fifty day simple moving average of $50.58 and a 200 day simple moving average of $48.35.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). The company had revenue of $385.34 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. Sell-side analysts anticipate that Gaming and Leisure Properties will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.04 annualized dividend and a dividend yield of 5.97%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 106.29%.

Insider Activity at Gaming and Leisure Properties

In related news, CFO Desiree A. Burke sold 12,973 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $52.02, for a total value of $674,855.46. Following the sale, the chief financial officer now owns 108,073 shares of the company’s stock, valued at $5,621,957.46. The trade was a 10.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director E Scott Urdang sold 3,000 shares of the stock in a transaction 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 transaction, the director now owns 146,800 shares of the company’s stock, valued at $7,397,252. This represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,858 shares of company stock valued at $1,171,377 over the last quarter. 4.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Gaming and Leisure Properties

Several large investors have recently made changes to their positions in GLPI. Morse Asset Management Inc boosted its position in Gaming and Leisure Properties by 84.4% in the third quarter. Morse Asset Management Inc now owns 14,560 shares of the real estate investment trust’s stock valued at $749,000 after buying an additional 6,665 shares in the last quarter. Arete Wealth Advisors LLC bought a new position in shares of Gaming and Leisure Properties in the third quarter valued at approximately $227,000. Sunbelt Securities Inc. raised its stake in shares of Gaming and Leisure Properties by 6.2% in the third quarter. Sunbelt Securities Inc. now owns 33,994 shares of the real estate investment trust’s stock valued at $1,749,000 after acquiring an additional 1,982 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of Gaming and Leisure Properties by 29.4% in the 3rd quarter. Toronto Dominion Bank now owns 35,964 shares of the real estate investment trust’s stock worth $1,850,000 after acquiring an additional 8,164 shares in the last quarter. Finally, Chiron Investment Management LLC bought a new stake in Gaming and Leisure Properties during the 3rd quarter worth approximately $191,000. Institutional investors own 91.14% of the company’s stock.

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.