UBS Group Boosts Gaming and Leisure Properties (NASDAQ:GLPI) Price Target to $61.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target raised by UBS Group from $56.00 to $61.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

GLPI has been the subject of a number of other research reports. Royal Bank of Canada boosted their target price on Gaming and Leisure Properties from $47.00 to $52.00 and gave the stock an outperform rating in a research report on Monday. Wells Fargo & Company cut their target price on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set an equal weight rating on the stock in a research report on Thursday, May 30th. Stifel Nicolaus lifted their price target on shares of Gaming and Leisure Properties from $50.75 to $51.00 and gave the stock a buy rating in a research report on Friday, May 17th. StockNews.com lowered shares of Gaming and Leisure Properties from a buy rating to a hold rating in a report on Thursday, July 11th. Finally, Morgan Stanley reaffirmed an overweight rating and set a $53.00 target price on shares of Gaming and Leisure Properties in a report on Friday, June 21st. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $51.27.

Gaming and Leisure Properties Stock Down 1.9 %

Shares of NASDAQ GLPI opened at $48.30 on Tuesday. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $50.06. The firm’s 50-day simple moving average is $45.01 and its 200 day simple moving average is $45.22. The company has a quick ratio of 6.47, a current ratio of 6.47 and a debt-to-equity ratio of 1.49. The company has a market cap of $13.11 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 5.79 and a beta of 0.98.

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

Gaming and Leisure Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.29%. The ex-dividend date was Friday, June 7th. Gaming and Leisure Properties’s dividend payout ratio is currently 112.18%.

Institutional Trading of Gaming and Leisure Properties

Large investors have recently bought and sold shares of the business. Ignite Planners LLC boosted its holdings in shares of Gaming and Leisure Properties by 1.8% in the second quarter. Ignite Planners LLC now owns 12,181 shares of the real estate investment trust’s stock valued at $543,000 after buying an additional 220 shares during the period. Moody National Bank Trust Division boosted its stake in Gaming and Leisure Properties by 1.2% in the 1st quarter. Moody National Bank Trust Division now owns 19,068 shares of the real estate investment trust’s stock worth $878,000 after purchasing an additional 231 shares during the period. Securian Asset Management Inc. increased its holdings in Gaming and Leisure Properties by 1.3% during the 4th quarter. Securian Asset Management Inc. now owns 22,534 shares of the real estate investment trust’s stock worth $1,112,000 after purchasing an additional 289 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Gaming and Leisure Properties by 2.7% in the 1st quarter. Private Advisor Group LLC now owns 11,440 shares of the real estate investment trust’s stock valued at $527,000 after purchasing an additional 299 shares during the period. Finally, Corient Private Wealth LLC lifted its holdings in shares of Gaming and Leisure Properties by 1.9% in the fourth quarter. Corient Private Wealth LLC now owns 17,844 shares of the real estate investment trust’s stock valued at $881,000 after purchasing an additional 327 shares in the last quarter. 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.