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

Gaming and Leisure Properties (NASDAQ:GLPI)‘s stock had its “market outperform” rating reissued by JMP Securities in a research note issued on Wednesday,Benzinga reports. They presently have a $55.00 price target on the real estate investment trust’s stock. JMP Securities’ target price suggests a potential upside of 18.38% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Wolfe Research raised shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a report on Friday, August 23rd. Stifel Nicolaus increased their price objective on shares of Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. StockNews.com downgraded Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Barclays began coverage on Gaming and Leisure Properties in a report on Tuesday. They set an “equal weight” rating and a $54.53 target price for the company. Finally, Wells Fargo & Company reissued 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. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Gaming and Leisure Properties currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Gaming and Leisure Properties Stock Down 1.4 %

Shares of NASDAQ GLPI opened at $46.46 on Wednesday. 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 has a 1 year low of $41.80 and a 1 year high of $52.60. The stock’s 50-day simple moving average is $50.26 and its 200-day simple moving average is $49.11. The firm has a market cap of $12.75 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 2.10 and a beta of 0.98.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $385.09 million. During the same quarter last year, the business earned $0.92 EPS. Gaming and Leisure Properties’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities analysts anticipate that Gaming and Leisure Properties will post 3.67 earnings per share for the current fiscal year.

Insider Activity at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 6,885 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.16, for a total value of $345,351.60. Following the completion of the sale, the director now directly owns 149,800 shares of the company’s stock, valued at approximately $7,513,968. This represents a 4.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.37% of the company’s stock.

Hedge Funds Weigh In On Gaming and Leisure Properties

Hedge funds have recently made changes to their positions in the business. Assetmark Inc. lifted its stake in Gaming and Leisure Properties by 2,547.6% during the third 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 during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Gaming and Leisure Properties by 142.2% during the 3rd 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 last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Gaming and Leisure Properties during the 2nd quarter worth $31,000. EverSource Wealth Advisors LLC grew its holdings in shares of Gaming and Leisure Properties by 578.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 590 shares during the last quarter. Finally, EdgeRock Capital LLC acquired a new position in shares of Gaming and Leisure Properties in the 2nd quarter worth $33,000. 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.