Gaming and Leisure Properties (NASDAQ:GLPI) Receives Market Outperform Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of Gaming and Leisure Properties (NASDAQ:GLPI) in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a $55.00 price target on the real estate investment trust’s stock.

Several other equities analysts have also commented on GLPI. Raymond James increased their price target on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Barclays began coverage on shares of Gaming and Leisure Properties in a research report on Tuesday. They issued an “equal weight” rating and a $54.53 target price on the stock. StockNews.com cut shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. 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 research note on Thursday, November 14th. Finally, Stifel Nicolaus lifted their target price on Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and an average price target of $54.00.

Gaming and Leisure Properties Price Performance

Gaming and Leisure Properties stock opened at $47.08 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 company has a fifty day simple moving average of $50.26 and a 200-day simple moving average of $49.11. The stock has a market cap of $12.92 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 2.10 and a beta of 0.98. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $52.60.

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). Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The business had revenue of $385.34 million for the quarter, compared to analysts’ expectations of $385.09 million. During the same period last year, the firm earned $0.92 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts expect that Gaming and Leisure Properties will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 6.46%. The ex-dividend date of this dividend was Friday, December 6th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 106.29%.

Insider Buying and Selling

In other news, Director E Scott Urdang sold 3,000 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $50.39, for a total transaction of $151,170.00. Following the transaction, the director now directly owns 146,800 shares in the company, valued at $7,397,252. The trade was a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.37% of the company’s stock.

Institutional Investors Weigh In On Gaming and Leisure Properties

A number of institutional investors have recently added to or reduced their stakes in GLPI. Assetmark Inc. raised its stake 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 worth $29,000 after buying an additional 535 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Gaming and Leisure Properties during the second quarter worth $31,000. EdgeRock Capital LLC purchased a new position in Gaming and Leisure Properties in the second quarter worth $33,000. Farther Finance Advisors LLC lifted its holdings 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 valued at $34,000 after acquiring an additional 384 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Gaming and Leisure Properties by 578.4% in the second quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 590 shares during the period. 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.