Gaming and Leisure Properties (NASDAQ:GLPI) Coverage Initiated at Barclays

Barclays initiated coverage on shares of Gaming and Leisure Properties (NASDAQ:GLPI) in a report issued on Tuesday, Marketbeat reports. The firm set an “equal weight” rating and a $54.53 price target on the real estate investment trust’s stock. Barclays‘s target price suggests a potential upside of 15.77% from the company’s previous close.

Other research analysts have also issued reports about the stock. Wolfe Research upgraded shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a report on Friday, August 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $55.00 price target on shares of Gaming and Leisure Properties in a research note on Tuesday, October 29th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $52.00 price target (up previously from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Mizuho dropped their price objective on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and lifted their target price for the company from $49.00 to $54.00 in a report on Wednesday, November 20th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Gaming and Leisure Properties Stock Down 3.9 %

GLPI stock opened at $47.10 on Tuesday. Gaming and Leisure Properties has a one year low of $41.80 and a one year high of $52.60. The stock has a market capitalization of $12.92 billion, a P/E ratio of 16.47, a PEG ratio of 2.10 and a beta of 0.98. The company has a 50 day moving average price of $50.34 and a two-hundred day moving average price of $49.12. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.25). Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The business had revenue of $385.34 million during the quarter, compared to analyst estimates of $385.09 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts expect that Gaming and Leisure Properties will post 3.67 EPS for the current year.

Insider Buying and Selling

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 3,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $50.39, for a total value of $151,170.00. Following the completion of the transaction, the director now directly owns 146,800 shares of the company’s stock, valued at $7,397,252. This represents a 2.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Gaming and Leisure Properties

A number of hedge funds and other institutional investors have recently modified their holdings of GLPI. Assetmark Inc. grew its stake in 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 valued at $29,000 after purchasing an additional 535 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Gaming and Leisure Properties during the 2nd quarter valued at approximately $31,000. EdgeRock Capital LLC acquired a new stake in shares of Gaming and Leisure Properties during the second quarter worth approximately $33,000. Farther Finance Advisors LLC increased its stake in shares of 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 worth $34,000 after buying an additional 384 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of 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 worth $35,000 after buying an additional 590 shares during the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.

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.