Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Receives $51.46 Consensus Target Price from Brokerages

Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) have been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are presently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $51.46.

GLPI has been the topic of several research analyst reports. StockNews.com cut Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Stifel Nicolaus increased their price target on Gaming and Leisure Properties from $50.75 to $51.00 and gave the company a “buy” rating in a report on Friday, May 17th. Mizuho lowered their price target on Gaming and Leisure Properties from $47.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Morgan Stanley lowered their price target on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. Finally, JMP Securities reissued a “market outperform” rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a report on Tuesday, May 21st.

Gaming and Leisure Properties Stock Performance

Shares of GLPI opened at $44.65 on Wednesday. The business’s fifty day simple moving average is $44.42 and its two-hundred day simple moving average is $45.71. The company has a current ratio of 6.47, a quick ratio of 6.47 and a debt-to-equity ratio of 1.49. Gaming and Leisure Properties has a 12 month low of $41.80 and a 12 month high of $50.59. The company has a market cap of $12.12 billion, a price-to-earnings ratio of 16.48, a P/E/G ratio of 5.25 and a beta of 0.94.

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

Gaming and Leisure Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a dividend of $0.76 per share. The ex-dividend date is Friday, June 7th. This represents a $3.04 dividend on an annualized basis and a yield of 6.81%. Gaming and Leisure Properties’s dividend payout ratio is presently 112.18%.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang purchased 2,500 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were acquired at an average cost of $45.00 per share, with a total value of $112,500.00. Following the completion of the acquisition, the director now directly owns 156,685 shares in the company, valued at $7,050,825. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Gaming and Leisure Properties

A number of institutional investors and hedge funds have recently bought and sold shares of GLPI. M&T Bank Corp grew its position in shares of Gaming and Leisure Properties by 0.9% during the third quarter. M&T Bank Corp now owns 42,836 shares of the real estate investment trust’s stock valued at $1,952,000 after purchasing an additional 374 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Gaming and Leisure Properties by 41.3% during the third quarter. California Public Employees Retirement System now owns 653,721 shares of the real estate investment trust’s stock valued at $29,777,000 after purchasing an additional 190,975 shares in the last quarter. Aspire Private Capital LLC grew its position in shares of Gaming and Leisure Properties by 27.9% during the third quarter. Aspire Private Capital LLC now owns 10,542 shares of the real estate investment trust’s stock valued at $480,000 after purchasing an additional 2,298 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of Gaming and Leisure Properties during the third quarter valued at about $337,000. Finally, Corrado Advisors LLC purchased a new position in shares of Gaming and Leisure Properties during the third quarter valued at about $221,000. 91.14% of the stock is 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.