Gaming and Leisure Properties (NASDAQ:GLPI) Price Target Cut to $56.00 by Analysts at Royal Bank of Canada

Gaming and Leisure Properties (NASDAQ:GLPI) had its price objective decreased by Royal Bank of Canada from $57.00 to $56.00 in a report published on Monday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the real estate investment trust’s stock.

Several other equities analysts have also recently commented on GLPI. Stifel Nicolaus raised their price target on shares of Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Mizuho decreased 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 research report on Thursday, November 14th. Morgan Stanley cut shares of Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price target for the company. in a research report on Wednesday, January 15th. Scotiabank reduced their price objective on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. upgraded shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $49.00 to $54.00 in a report on Friday, December 13th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.15.

Gaming and Leisure Properties Stock Up 0.6 %

Shares of NASDAQ GLPI opened at $49.80 on Monday. The company has a 50 day simple moving average of $48.18 and a 200-day simple moving average of $49.77. The company has a market capitalization of $13.69 billion, a P/E ratio of 17.35, a P/E/G ratio of 2.01 and a beta of 0.99. 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 has a 1 year low of $41.80 and a 1 year high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. The firm had revenue of $389.62 million during the quarter, compared to analysts’ expectations of $391.54 million. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. On average, equities research analysts predict that Gaming and Leisure Properties will post 3.81 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.04 annualized dividend and a yield of 6.10%. Gaming and Leisure Properties’s dividend payout ratio is currently 105.92%.

Insider Buying and Selling

In other Gaming and Leisure Properties news, SVP Matthew Demchyk sold 1,149 shares of Gaming and Leisure Properties stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $47.80, for a total value of $54,922.20. Following the transaction, the senior vice president now directly owns 91,620 shares in the company, valued at approximately $4,379,436. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Brandon John Moore sold 3,982 shares of Gaming and Leisure Properties stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $47.84, for a total transaction of $190,498.88. Following the completion of the transaction, the chief operating officer now owns 278,634 shares in the company, valued at approximately $13,329,850.56. This represents a 1.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,222 shares of company stock worth $1,873,547 in the last ninety days. 4.37% of the stock is owned by corporate insiders.

Institutional Trading of Gaming and Leisure Properties

Several hedge funds and other institutional investors have recently made changes to their positions in GLPI. Creative Planning boosted its holdings in shares of Gaming and Leisure Properties by 22.0% in the third quarter. Creative Planning now owns 15,737 shares of the real estate investment trust’s stock valued at $810,000 after acquiring an additional 2,841 shares in the last quarter. Signaturefd LLC boosted its holdings in Gaming and Leisure Properties by 24.4% during the third quarter. Signaturefd LLC now owns 3,342 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 656 shares in the last quarter. Private Advisor Group LLC boosted its holdings in Gaming and Leisure Properties by 9.2% during the third quarter. Private Advisor Group LLC now owns 13,646 shares of the real estate investment trust’s stock worth $702,000 after buying an additional 1,152 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Gaming and Leisure Properties by 5,015.8% during the third quarter. International Assets Investment Management LLC now owns 53,511 shares of the real estate investment trust’s stock worth $2,753,000 after buying an additional 52,465 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Gaming and Leisure Properties by 31.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,807 shares of the real estate investment trust’s stock worth $599,000 after buying an additional 2,838 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

Gaming & Leisure Properties, Inc engages in acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.