Gaming and Leisure Properties (NASDAQ:GLPI) Given New $57.50 Price Target at Stifel Nicolaus

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target raised by Stifel Nicolaus from $53.25 to $57.50 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

Several other brokerages have also commented on GLPI. StockNews.com lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and upped their price target for the company from $49.00 to $54.00 in a research report on Wednesday, November 20th. Wells Fargo & Company reissued an “equal weight” rating and issued a $52.00 price objective (up previously from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Raymond James upped their target price on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Finally, Wolfe Research upgraded shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research note on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and a consensus price target of $53.32.

Gaming and Leisure Properties Stock Down 0.2 %

Gaming and Leisure Properties stock opened at $51.17 on Tuesday. Gaming and Leisure Properties has a 12 month low of $41.80 and a 12 month high of $52.60. The stock has a fifty day simple moving average of $50.56 and a two-hundred day simple moving average of $48.51. 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 $14.04 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.16 and a beta of 0.99.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). The company had revenue of $385.34 million for the quarter, compared to analysts’ expectations of $385.09 million. Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 EPS. Equities analysts predict that Gaming and Leisure Properties will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.04 dividend on an annualized basis and a yield of 5.94%. Gaming and Leisure Properties’s dividend payout ratio is presently 106.29%.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 12,973 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $52.02, for a total transaction of $674,855.46. Following the completion of the transaction, the chief financial officer now owns 108,073 shares in the company, valued at $5,621,957.46. This trade represents a 10.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director E Scott Urdang sold 3,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 146,800 shares in the company, valued at $7,397,252. This trade represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,858 shares of company stock valued at $1,171,377 in the last three months. 4.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gaming and Leisure Properties

Hedge funds have recently bought and sold shares of the business. Assetmark Inc. increased its holdings in shares of Gaming and Leisure Properties by 2,547.6% in 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. Farther Finance Advisors LLC grew its position 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 acquiring an additional 384 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Gaming and Leisure Properties during the second quarter worth approximately $31,000. EverSource Wealth Advisors LLC raised its position 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 period. Finally, EdgeRock Capital LLC bought a new stake in shares of Gaming and Leisure Properties in the 2nd quarter valued at approximately $33,000. Hedge funds and other 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.