Citigroup Has Lowered Expectations for Gaming and Leisure Properties (NASDAQ:GLPI) Stock Price

Gaming and Leisure Properties (NASDAQ:GLPI) had its target price lowered by equities research analysts at Citigroup from $59.00 to $49.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Citigroup‘s target price would suggest a potential upside of 23.02% from the company’s current price.

Other research analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of Gaming and Leisure Properties from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Citizens Jmp dropped their price target on shares of Gaming and Leisure Properties from $55.00 to $49.00 and set a “market outperform” rating for the company in a research report on Friday, October 2nd. Truist Financial cut their price target on shares of Gaming and Leisure Properties from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, October 20th. Royal Bank Of Canada decreased their price objective on shares of Gaming and Leisure Properties from $54.00 to $52.00 and set an “outperform” rating on the stock in a research report on Monday, August 3rd. Finally, Scotiabank lowered their price objective on shares of Gaming and Leisure Properties from $49.00 to $43.00 and set a “sector perform” rating for the company in a research note on Thursday, September 24th. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.36.

Gaming and Leisure Properties Trading Up 1.7%

GLPI stock traded up $0.66 during trading on Wednesday, hitting $39.83. 3,006,112 shares of the company traded hands, compared to its average volume of 2,614,526. The firm has a market capitalization of $11.59 billion, a PE ratio of 12.18, a P/E/G ratio of 1.64 and a beta of 0.64. Gaming and Leisure Properties has a 1 year low of $37.33 and a 1 year high of $49.95. The company has a 50-day moving average of $39.73 and a 200-day moving average of $44.44. 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 posted its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.71 earnings per share (EPS) 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 company had revenue of $435.45 million for the quarter, compared to the consensus estimate of $436.30 million. During the same quarter in the previous year, the business earned $0.97 earnings per share. Gaming and Leisure Properties’s revenue was up 9.5% compared to the same quarter last year. Analysts predict that Gaming and Leisure Properties will post 4.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Earl C. Shanks acquired 10,000 shares of Gaming and Leisure Properties stock in a transaction on Tuesday, August 18th. The shares were acquired at an average cost of $42.24 per share, with a total value of $422,400.00. Following the transaction, the director owned 107,259 shares in the company, valued at $4,530,620.16. This trade represents a 10.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Gaming and Leisure Properties

Large investors have recently modified their holdings of the stock. Lasalle Investment Management Securities LLC lifted its holdings in Gaming and Leisure Properties by 17.0% in the second quarter. Lasalle Investment Management Securities LLC now owns 2,309,247 shares of the real estate investment trust’s stock worth $102,831,000 after buying an additional 334,933 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Gaming and Leisure Properties during the 2nd quarter worth approximately $41,756,000. The Manufacturers Life Insurance Company grew its holdings in shares of Gaming and Leisure Properties by 29.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 472,446 shares of the real estate investment trust’s stock worth $21,038,000 after acquiring an additional 108,741 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Gaming and Leisure Properties during the 2nd quarter worth approximately $5,736,000. Finally, Bank of America Corp DE bought a new position in shares of Gaming and Leisure Properties in the 2nd quarter worth approximately $54,270,000. Institutional investors own 91.14% of the company’s stock.

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.