Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Receives $53.50 Consensus Target Price from Analysts

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) has received an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $53.50.

Several brokerages have issued reports on GLPI. JMP Securities reissued a “market outperform” rating and set a $55.00 target price on shares of Gaming and Leisure Properties in a research note on Tuesday, October 29th. StockNews.com downgraded shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Mizuho cut their target price on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and boosted their target price for the company from $49.00 to $54.00 in a research note on Wednesday, November 20th. Finally, Raymond James boosted their target price on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st.

Insider Activity

In other 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 transaction of $151,170.00. Following the completion of the transaction, the director now owns 146,800 shares of the company’s stock, valued at approximately $7,397,252. This represents a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC acquired a new stake in shares of Gaming and Leisure Properties during the third quarter worth approximately $693,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Gaming and Leisure Properties by 63.1% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 51,991 shares of the real estate investment trust’s stock worth $2,351,000 after purchasing an additional 20,111 shares during the period. Sei Investments Co. raised its holdings in Gaming and Leisure Properties by 11.4% in the second quarter. Sei Investments Co. now owns 539,593 shares of the real estate investment trust’s stock worth $24,395,000 after purchasing an additional 55,385 shares during the period. Zacks Investment Management raised its holdings in Gaming and Leisure Properties by 10.9% in the third quarter. Zacks Investment Management now owns 522,197 shares of the real estate investment trust’s stock worth $26,867,000 after purchasing an additional 51,398 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Gaming and Leisure Properties by 14.0% during the second quarter. Victory Capital Management Inc. now owns 793,885 shares of the real estate investment trust’s stock worth $35,892,000 after acquiring an additional 97,594 shares during the period. Institutional investors and hedge funds own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Performance

GLPI opened at $49.60 on Friday. The company has a market capitalization of $13.61 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98. Gaming and Leisure Properties has a 1-year low of $41.80 and a 1-year high of $52.60. The business has a 50 day moving average price of $50.50 and a two-hundred day moving average price of $48.96. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35.

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

Gaming and Leisure Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date is Friday, December 6th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 106.29%.

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.