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

Gaming and Leisure Properties (NASDAQ:GLPI) had its target price boosted by Wells Fargo & Company from $48.00 to $51.00 in a research note released on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust’s stock.

GLPI has been the subject of several other research reports. Wedbush reaffirmed an outperform rating and set a $51.00 price objective on shares of Gaming and Leisure Properties in a research note on Friday, May 17th. StockNews.com raised Gaming and Leisure Properties from a hold rating to a buy rating in a report on Friday, July 19th. Scotiabank boosted their price objective on Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a sector perform rating in a research note on Tuesday, July 16th. Mizuho cut their target price on Gaming and Leisure Properties from $47.00 to $46.00 and set a neutral rating for the company in a research note on Friday, May 10th. Finally, Morgan Stanley reissued an overweight rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a research report on Friday, June 21st. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $52.11.

Gaming and Leisure Properties Trading Up 0.1 %

GLPI stock opened at $51.08 on Monday. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $51.35. The business’s 50-day moving average is $47.86 and its 200 day moving average is $45.77. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49. The stock has a market cap of $13.87 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 5.14 and a beta of 0.98.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued 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). Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The firm had revenue of $380.60 million during the quarter, compared to analyst estimates of $377.95 million. During the same period in the prior year, the firm earned $0.92 earnings per share. The business’s revenue was up 6.7% on a year-over-year basis. On average, sell-side analysts anticipate that Gaming and Leisure Properties will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 5,605 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was 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 directly owns 156,685 shares in the company, valued at $7,660,329.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of the business’s 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 sale, the director now directly owns 156,685 shares in the company, valued at $7,660,329.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brandon John Moore sold 30,900 shares of the firm’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 transaction, the chief operating officer now directly owns 208,977 shares of the company’s stock, valued at approximately $10,459,298.85. The disclosure for this sale can be found here. 4.40% of the stock is owned by corporate insiders.

Institutional Trading of Gaming and Leisure Properties

A number of large investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new position in Gaming and Leisure Properties during the 4th quarter worth $30,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Gaming and Leisure Properties during the second quarter worth about $31,000. EdgeRock Capital LLC purchased a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth approximately $33,000. MCF Advisors LLC increased its stake in shares of Gaming and Leisure Properties by 416.7% during the first quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 600 shares during the period. Finally, Versant Capital Management Inc raised its holdings in Gaming and Leisure Properties by 18,500.0% in the second quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 740 shares in the last quarter. Hedge funds and other 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.