Scotiabank Raises Gaming and Leisure Properties (NASDAQ:GLPI) Price Target to $50.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its target price lifted by Scotiabank from $48.00 to $50.00 in a report released on Tuesday morning, Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

Other research analysts have also issued reports about the company. Stifel Nicolaus upped their target price on 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 research report on Thursday, July 11th. Royal Bank of Canada boosted their target price on shares of Gaming and Leisure Properties from $47.00 to $52.00 and gave the stock an outperform rating in a research report on Monday, July 15th. Mizuho cut their price target on shares of 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. Finally, UBS Group upped their price objective on shares of Gaming and Leisure Properties from $56.00 to $61.00 and gave the stock a buy rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $51.27.

Gaming and Leisure Properties Price Performance

Shares of GLPI opened at $48.04 on Tuesday. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.47 and a quick ratio of 6.47. The company has a market capitalization of $13.04 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 5.79 and a beta of 0.98. The business’s 50-day moving average is $45.09 and its 200-day moving average is $45.21. Gaming and Leisure Properties has a fifty-two week low of $41.80 and a fifty-two week high of $50.06.

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

Gaming and Leisure Properties Dividend Announcement

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 $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 6.33%. The ex-dividend date was Friday, June 7th. Gaming and Leisure Properties’s dividend payout ratio is currently 112.18%.

Hedge Funds Weigh In On Gaming and Leisure Properties

Several large investors have recently made changes to their positions in the business. Ignite Planners LLC increased its position in Gaming and Leisure Properties by 1.8% in the 2nd quarter. Ignite Planners LLC now owns 12,181 shares of the real estate investment trust’s stock worth $543,000 after buying an additional 220 shares during the period. Moody National Bank Trust Division raised its stake in Gaming and Leisure Properties by 1.2% during the 1st quarter. Moody National Bank Trust Division now owns 19,068 shares of the real estate investment trust’s stock valued at $878,000 after purchasing an additional 231 shares during the last quarter. Securian Asset Management Inc. boosted its holdings in Gaming and Leisure Properties by 1.3% in the 4th quarter. Securian Asset Management Inc. now owns 22,534 shares of the real estate investment trust’s stock valued at $1,112,000 after purchasing an additional 289 shares during the period. Private Advisor Group LLC grew its position in 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 worth $527,000 after purchasing an additional 299 shares during the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of Gaming and Leisure Properties by 1.9% during the 4th quarter. Corient Private Wealth LLC now owns 17,844 shares of the real estate investment trust’s stock worth $881,000 after purchasing an additional 327 shares during the period. Institutional investors and hedge funds own 91.14% of the company’s stock.

About Gaming and Leisure Properties

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.