Scotiabank Has Lowered Expectations for Gaming and Leisure Properties (NASDAQ:GLPI) Stock Price

Gaming and Leisure Properties (NASDAQ:GLPI) had its target price cut by stock analysts at Scotiabank from $50.00 to $49.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target indicates a potential upside of 2.29% from the company’s current price.

GLPI has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $54.00 in a report on Wednesday, November 20th. Stifel Nicolaus lifted their price target on shares of Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a “buy” rating in a report on Tuesday, November 26th. Mizuho decreased 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 report on Thursday, November 14th. Barclays initiated coverage on shares of Gaming and Leisure Properties in a research note on Tuesday, December 17th. They set an “equal weight” rating and a $54.53 target price on the stock. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $52.00 price objective (up from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and an average price target of $53.93.

Gaming and Leisure Properties Trading Up 2.3 %

Shares of NASDAQ GLPI traded up $1.06 during mid-day trading on Thursday, hitting $47.90. The stock had a trading volume of 617,008 shares, compared to its average volume of 976,143. The firm has a market cap of $13.14 billion, a P/E ratio of 16.74, a price-to-earnings-growth ratio of 1.86 and a beta of 0.99. 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 business has a 50 day moving average price of $49.02 and a two-hundred day moving average price of $49.56. Gaming and Leisure Properties has a 1 year low of $41.80 and a 1 year high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings data 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 firm had revenue of $385.34 million during 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%. Gaming and Leisure Properties’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 EPS. On average, equities analysts anticipate that Gaming and Leisure Properties will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling

In other Gaming and Leisure Properties news, COO Brandon John Moore sold 3,982 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was 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 owns 278,634 shares of the company’s stock, valued at approximately $13,329,850.56. The trade was a 1.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the director now owns 149,800 shares of the company’s stock, valued at approximately $7,513,968. This trade represents a 4.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,016 shares of company stock worth $741,943 in the last quarter. Corporate insiders own 4.37% of the company’s stock.

Institutional Trading of Gaming and Leisure Properties

Large investors have recently added to or reduced their stakes in the business. Assetmark Inc. grew its position in shares of 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 valued at $29,000 after acquiring an additional 535 shares during the period. Farther Finance Advisors LLC lifted its position in Gaming and Leisure Properties by 142.2% during the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 384 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings 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. Abich Financial Wealth Management LLC increased its position in Gaming and Leisure Properties by 3,191.3% in the third quarter. Abich Financial Wealth Management LLC now owns 757 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 734 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Gaming and Leisure Properties in the third quarter worth about $39,000. 91.14% of the stock is currently 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.