Gaming and Leisure Properties (NASDAQ:GLPI) Receives Equal Weight Rating from Wells Fargo & Company

Wells Fargo & Company reaffirmed their equal weight rating on shares of Gaming and Leisure Properties (NASDAQ:GLPI) in a research report sent to investors on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has a $52.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $51.00.

Other research analysts have also recently issued reports about the stock. Morgan Stanley reiterated an overweight rating and set a $53.00 target price on shares of Gaming and Leisure Properties in a report on Friday, June 21st. Wolfe Research raised 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a hold rating in a research note on Monday, July 29th. JMP Securities boosted their price target on Gaming and Leisure Properties from $53.00 to $55.00 and gave the stock a market outperform rating in a research report on Monday, August 12th. Finally, Raymond James upped their price objective on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an outperform rating in a research note on Wednesday, August 21st. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $52.18.

Gaming and Leisure Properties Stock Down 0.2 %

Shares of NASDAQ GLPI opened at $51.00 on Tuesday. Gaming and Leisure Properties has a 52-week low of $41.80 and a 52-week high of $52.60. The firm has a market capitalization of $13.85 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 5.36 and a beta of 0.99. The stock has a 50 day moving average price of $50.61 and a 200 day moving average price of $46.85. The company has a debt-to-equity ratio of 1.49, a quick ratio of 5.91 and a current ratio of 5.91.

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

Gaming and Leisure Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 5.96%. The ex-dividend date was Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio is presently 112.18%.

Insider Buying and Selling

In other news, COO Brandon John Moore sold 30,900 shares of Gaming and Leisure Properties stock in a transaction that occurred on 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 sale, the chief operating officer now owns 208,977 shares of the company’s stock, valued at approximately $10,459,298.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $48.89, for a total transaction of $274,028.45. Following the completion of the transaction, the director now owns 156,685 shares of the company’s stock, valued at $7,660,329.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Brandon John Moore sold 30,900 shares of the business’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 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,478 shares of company stock worth $2,495,429. 4.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Gaming and Leisure Properties

Hedge funds have recently made changes to their positions in the stock. Ignite Planners LLC lifted its stake in Gaming and Leisure Properties by 1.8% during the second quarter. Ignite Planners LLC now owns 12,181 shares of the real estate investment trust’s stock worth $543,000 after purchasing an additional 220 shares in the last quarter. EP Wealth Advisors LLC lifted 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 in the last quarter. Moody National Bank Trust Division lifted its stake in Gaming and Leisure Properties by 1.2% during the 1st quarter. Moody National Bank Trust Division now owns 19,068 shares of the real estate investment trust’s stock worth $878,000 after acquiring an additional 231 shares in the last quarter. Ieq Capital LLC boosted its holdings in Gaming and Leisure Properties by 0.3% during the 2nd quarter. Ieq Capital LLC now owns 90,749 shares of the real estate investment trust’s stock valued at $4,103,000 after acquiring an additional 257 shares during the period. Finally, Private Advisor Group LLC grew its position in Gaming and Leisure Properties by 2.7% in the 1st quarter. Private Advisor Group LLC now owns 11,440 shares of the real estate investment trust’s stock valued at $527,000 after acquiring an additional 299 shares in the last quarter. Hedge funds and other institutional investors own 91.14% of the company’s stock.

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.