Gaming and Leisure Properties (NASDAQ:GLPI) Now Covered by Analysts at Citigroup

Analysts at Citigroup began coverage on shares of Gaming and Leisure Properties (NASDAQ:GLPI) in a report issued on Wednesday, MarketBeat.com reports. The firm set a “buy” rating and a $49.00 price target on the real estate investment trust’s stock. Citigroup‘s target price suggests a potential upside of 26.00% from the stock’s previous close.

Several other analysts also recently weighed in on GLPI. Morgan Stanley dropped their target price on shares of Gaming and Leisure Properties from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 17th. Royal Bank Of Canada decreased their price target on shares of Gaming and Leisure Properties from $54.00 to $52.00 and set an “outperform” rating for the company in a report on Monday, August 3rd. Mizuho decreased their price target on shares of Gaming and Leisure Properties from $53.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, September 2nd. Truist Financial lowered their price objective on shares of Gaming and Leisure Properties from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, October 20th. Finally, JPMorgan Chase & Co. lowered shares of Gaming and Leisure Properties from an “overweight” rating to a “neutral” rating and set a $46.00 price objective on the stock. in a report on Thursday, September 24th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold 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 target price of $47.36.

Gaming and Leisure Properties Stock Down 1.4%

NASDAQ:GLPI traded down $0.55 during mid-day trading on Wednesday, hitting $38.89. 2,581,857 shares of the company’s stock traded hands, compared to its average volume of 2,455,190. The company has a fifty day moving average of $39.54 and a 200 day moving average of $44.34. Gaming and Leisure Properties has a twelve month low of $37.33 and a twelve month high of $49.95. The company has a market capitalization of $11.31 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.64 and a beta of 0.64. The company has a debt-to-equity ratio of 1.52, a quick ratio of 5.38 and a current ratio of 5.38.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). Gaming and Leisure Properties had a return on equity of 18.16% and a net margin of 55.71%. The business had revenue of $435.45 million during the quarter, compared to analyst estimates of $436.30 million. During the same period in the prior year, the business posted $0.97 EPS. Gaming and Leisure Properties’s revenue was up 9.5% compared to the same quarter last year. On average, analysts forecast that Gaming and Leisure Properties will post 4.02 EPS for the current year.

Insider Buying and Selling

In other Gaming and Leisure Properties news, Director Earl C. Shanks purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were bought at an average price of $42.24 per share, for a total transaction of $422,400.00. Following the acquisition, the director owned 107,259 shares in the company, valued at $4,530,620.16. This represents a 10.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Gaming and Leisure Properties

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Gaming and Leisure Properties in the second quarter worth $1,596,811,000. State Street Corp lifted its position in Gaming and Leisure Properties by 2.3% during the second quarter. State Street Corp now owns 13,477,304 shares of the real estate investment trust’s stock valued at $600,144,000 after purchasing an additional 305,154 shares during the period. Jennison Associates LLC boosted its holdings in Gaming and Leisure Properties by 21.7% in the first quarter. Jennison Associates LLC now owns 4,378,409 shares of the real estate investment trust’s stock valued at $194,270,000 after purchasing an additional 781,198 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Gaming and Leisure Properties by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 4,160,855 shares of the real estate investment trust’s stock valued at $184,614,000 after purchasing an additional 67,652 shares during the last quarter. Finally, Deutsche Bank AG purchased a new stake in Gaming and Leisure Properties in the second quarter valued at $151,300,000. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Gaming and Leisure Properties Company Profile

Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust that owns and leases gaming and entertainment properties. The company primarily operates as a landlord, generating rental income through long-term agreements with casino operators rather than directly managing most of the gaming facilities located on its properties.

GLPI’s portfolio includes casinos, resorts, racetracks and related entertainment facilities across the United States. Its leases are generally structured as triple-net agreements, under which tenants are typically responsible for property-level expenses such as maintenance, insurance and real estate taxes.