Wells Fargo & Company Boosts Gaming and Leisure Properties (NASDAQ:GLPI) Price Target to $51.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its price objective hoisted by Wells Fargo & Company from $48.00 to $51.00 in a research report report published on Monday, Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

GLPI has been the topic of a number of other reports. Wedbush reaffirmed an outperform rating and set a $51.00 price target on shares of Gaming and Leisure Properties in a research note on Friday, May 17th. JMP Securities increased their price objective on Gaming and Leisure Properties from $53.00 to $55.00 and gave the stock a market outperform rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft lifted their target price on Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a hold rating in a research report on Monday, July 29th. Mizuho lowered their price target on Gaming and Leisure Properties from $47.00 to $46.00 and set a neutral rating for the company in a research report on Friday, May 10th. Finally, StockNews.com upgraded Gaming and Leisure Properties from a hold rating to a buy rating in a research note on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $52.11.

Gaming and Leisure Properties Stock Performance

Shares of GLPI stock opened at $51.28 on Monday. The firm has a 50 day moving average of $48.01 and a 200-day moving average of $45.81. The company has a market cap of $13.92 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 5.14 and a beta of 0.98. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.49. Gaming and Leisure Properties has a 52 week low of $41.80 and a 52 week high of $51.48.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The company had revenue of $380.60 million during the quarter, compared to analyst estimates of $377.95 million. During the same quarter in the previous year, the business posted $0.92 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities analysts forecast that Gaming and Leisure Properties will post 3.67 earnings per share for the current year.

Insider Activity

In related news, COO Brandon John Moore sold 30,900 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $50.05, for a total value of $1,546,545.00. Following the transaction, the chief operating officer now directly owns 208,977 shares in the company, valued at $10,459,298.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Gaming and Leisure Properties news, COO Brandon John Moore sold 30,900 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the completion of the sale, the chief operating officer now directly owns 208,977 shares in the company, valued at $10,459,298.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director E Scott Urdang sold 5,605 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $48.89, for a total transaction of $274,028.45. Following the transaction, the director now directly owns 156,685 shares in the company, valued at $7,660,329.65. The disclosure for this sale can be found here. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Gaming and Leisure Properties

Institutional investors and hedge funds have recently bought and sold shares of the stock. Clearbridge Investments LLC increased its holdings in shares of Gaming and Leisure Properties by 4.5% during the second quarter. Clearbridge Investments LLC now owns 502,795 shares of the real estate investment trust’s stock valued at $22,731,000 after acquiring an additional 21,556 shares in the last quarter. New Century Financial Group LLC bought a new position in shares of Gaming and Leisure Properties during the 2nd quarter valued at approximately $210,000. Aurora Investment Counsel grew its stake in shares of Gaming and Leisure Properties by 1.7% during the 2nd quarter. Aurora Investment Counsel now owns 37,734 shares of the real estate investment trust’s stock valued at $1,706,000 after acquiring an additional 633 shares during the period. Cetera Investment Advisers increased its holdings in Gaming and Leisure Properties by 0.5% in the 2nd quarter. Cetera Investment Advisers now owns 54,803 shares of the real estate investment trust’s stock worth $2,478,000 after acquiring an additional 299 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its stake in Gaming and Leisure Properties by 0.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 33,990 shares of the real estate investment trust’s stock worth $1,537,000 after acquiring an additional 220 shares during the period. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Company Profile

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.