Raymond James Increases Gaming and Leisure Properties (NASDAQ:GLPI) Price Target to $53.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its price objective boosted by Raymond James from $50.00 to $53.00 in a research report report published on Wednesday morning, Benzinga reports. Raymond James currently has an outperform rating on the real estate investment trust’s stock.

Other analysts have also issued research reports about the company. Mizuho cut their target price on Gaming and Leisure Properties from $47.00 to $46.00 and set a neutral rating on the stock in a research report on Friday, May 10th. JMP Securities boosted their target price on Gaming and Leisure Properties from $53.00 to $55.00 and gave the stock a market outperform rating in a research note on Monday, August 12th. Stifel Nicolaus boosted their price objective on Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a buy rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft increased their price target on Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a hold rating in a report on Monday, July 29th. Finally, Morgan Stanley reaffirmed an overweight rating and set a $53.00 price objective on shares of Gaming and Leisure Properties in a report on Friday, June 21st. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $51.89.

Gaming and Leisure Properties Trading Up 2.0 %

Shares of NASDAQ GLPI opened at $50.74 on Wednesday. The stock has a market capitalization of $13.78 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 5.14 and a beta of 0.98. Gaming and Leisure Properties has a 1-year low of $41.80 and a 1-year high of $50.88. The company has a debt-to-equity ratio of 1.49, a current ratio of 5.91 and a quick ratio of 5.91. The business has a fifty day moving average price of $47.44 and a 200 day moving average price of $45.66.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced 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 company had revenue of $380.60 million during the quarter, compared to analyst estimates of $377.95 million. Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 earnings per share. Equities research analysts expect that Gaming and Leisure Properties will post 3.67 EPS for the current fiscal year.

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 5,605 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the completion of the transaction, the director now directly owns 156,685 shares in the company, valued at approximately $7,660,329.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is currently owned by company insiders.

Institutional Trading of Gaming and Leisure Properties

Several institutional investors and hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC bought a new position in Gaming and Leisure Properties during the fourth quarter worth about $30,000. Ashton Thomas Private Wealth LLC bought a new position in Gaming and Leisure Properties in the second quarter valued at about $31,000. EdgeRock Capital LLC bought a new stake in Gaming and Leisure Properties during the 4th quarter worth approximately $33,000. MCF Advisors LLC increased its holdings in Gaming and Leisure Properties by 416.7% in the first quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 600 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of 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 buying an additional 740 shares during the period. 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.