Gaming and Leisure Properties (NASDAQ:GLPI) Rating Reiterated by Wells Fargo & Company

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

A number of other equities research analysts also recently weighed in on GLPI. UBS Group raised their target price on shares of Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a buy rating in a research note on Tuesday, July 16th. Raymond James increased their target price on Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an outperform rating in a report on Wednesday, August 21st. Scotiabank lifted their price target 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. Royal Bank of Canada boosted their price objective on Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an outperform rating in a research report on Monday, July 29th. Finally, StockNews.com upgraded shares of Gaming and Leisure Properties from a hold rating to a buy rating in a report on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Gaming and Leisure Properties currently has an average rating of Moderate Buy and a consensus price target of $52.18.

Gaming and Leisure Properties Price Performance

GLPI opened at $51.00 on Tuesday. The firm has a 50-day moving average price of $50.61 and a 200-day moving average price of $46.85. Gaming and Leisure Properties has a twelve month low of $41.80 and a twelve month high of $52.60. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.49. The company 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.

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). The company had revenue of $380.60 million during 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 revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 earnings per share. Equities analysts expect that Gaming and Leisure Properties will post 3.67 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

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

Insider Transactions at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 5,605 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Gaming and Leisure Properties news, COO Brandon John Moore sold 30,900 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $50.05, for a total value of $1,546,545.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director E Scott Urdang sold 5,605 shares of Gaming and Leisure Properties stock in a transaction that occurred 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 sale, the director now owns 156,685 shares of the company’s stock, valued at $7,660,329.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,478 shares of company stock worth $2,495,429. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLPI. Wellington Management Group LLP boosted its holdings in shares of Gaming and Leisure Properties by 40.8% in the fourth quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust’s stock worth $627,204,000 after buying an additional 3,684,553 shares during the last quarter. Putnam Investments LLC boosted its position in shares of Gaming and Leisure Properties by 3.1% in the fourth quarter. Putnam Investments LLC now owns 9,511,521 shares of the real estate investment trust’s stock worth $469,394,000 after purchasing an additional 282,828 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Gaming and Leisure Properties by 4.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,489,160 shares of the real estate investment trust’s stock worth $252,886,000 after purchasing an additional 211,709 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Gaming and Leisure Properties by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,104,552 shares of the real estate investment trust’s stock worth $185,564,000 after purchasing an additional 350,250 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Gaming and Leisure Properties by 36.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,910,169 shares of the real estate investment trust’s stock worth $134,074,000 after buying an additional 781,906 shares in the last quarter. 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.