Gaming and Leisure Properties’ (GLPI) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities restated their market outperform rating on shares of Gaming and Leisure Properties (NASDAQ:GLPI) in a research note released on Wednesday morning,Benzinga reports. JMP Securities currently has a $55.00 price target on the real estate investment trust’s stock.

A number of other equities research analysts also recently weighed in on GLPI. Mizuho cut their price target on shares of 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. Wells Fargo & Company restated an “equal weight” rating and set a $52.00 price objective (up from $51.00) on shares of Gaming and Leisure Properties in a research report on Tuesday, October 1st. StockNews.com downgraded Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and raised their price target for the stock from $49.00 to $54.00 in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. upgraded shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $49.00 to $54.00 in a research note on Friday, December 13th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ:GLPI traded down $0.23 during trading on Wednesday, hitting $46.87. 158,131 shares of the company traded hands, compared to its average volume of 1,293,885. The stock has a market capitalization of $12.86 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 2.10 and a beta of 0.98. The business’s fifty day moving average is $50.34 and its 200-day moving average is $49.12. Gaming and Leisure Properties has a one year low of $41.80 and a one year high of $52.60. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results 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 return on equity of 17.31% and a net margin of 51.93%. The firm had revenue of $385.34 million during the quarter, compared to analyst estimates of $385.09 million. During the same quarter last year, the company earned $0.92 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities analysts predict that Gaming and Leisure Properties will post 3.67 earnings per share for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 6.49%. The ex-dividend date of this dividend is Friday, December 6th. Gaming and Leisure Properties’s payout ratio is 106.29%.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 3,000 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 146,800 shares in the company, valued at approximately $7,397,252. The trade was a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GLPI. Assetmark Inc. grew its position in shares of Gaming and Leisure Properties by 2,547.6% in 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 boosted its stake in 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 purchasing an additional 384 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in Gaming and Leisure Properties in the 2nd quarter valued at approximately $31,000. EverSource Wealth Advisors LLC increased its position in 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 buying an additional 590 shares during the period. Finally, EdgeRock Capital LLC acquired a new position in shares of Gaming and Leisure Properties during the second quarter worth approximately $33,000. Institutional investors 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.