Scotiabank Lowers Gaming and Leisure Properties (NASDAQ:GLPI) Price Target to $49.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target lowered by investment analysts at Scotiabank from $50.00 to $49.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target points to a potential upside of 1.98% from the company’s previous close.

A number of other research firms have also recently commented on GLPI. Barclays assumed coverage on shares of Gaming and Leisure Properties in a research report on Tuesday, December 17th. They set an “equal weight” rating and a $54.53 target price for the company. Deutsche Bank Aktiengesellschaft upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and increased their price objective for the company from $49.00 to $54.00 in a report on Wednesday, November 20th. Wells Fargo & Company restated an “equal weight” rating and set a $52.00 target price (up from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Morgan Stanley cut 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 note on Wednesday. Finally, JPMorgan Chase & Co. upgraded Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $49.00 to $54.00 in a research note on Friday, December 13th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.93.

Gaming and Leisure Properties Trading Up 0.1 %

Shares of NASDAQ:GLPI opened at $48.05 on Thursday. The company has a market capitalization of $13.18 billion, a PE ratio of 16.80, a P/E/G ratio of 1.86 and a beta of 0.99. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $52.60. The business’s fifty day simple moving average is $48.96 and its 200-day simple moving average is $49.58.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its 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 analysts’ expectations 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 revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 EPS. As a group, equities research analysts predict that Gaming and Leisure Properties will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Gaming and Leisure Properties news, SVP Matthew Demchyk sold 1,149 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $47.80, for a total transaction of $54,922.20. Following the sale, the senior vice president now directly owns 91,620 shares of the company’s stock, valued at approximately $4,379,436. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brandon John Moore sold 3,982 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $47.84, for a total value of $190,498.88. Following the completion of the transaction, the chief operating officer now directly owns 278,634 shares of the company’s stock, valued at approximately $13,329,850.56. This trade represents a 1.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,016 shares of company stock valued at $741,943 over the last 90 days. Insiders own 4.37% of the company’s stock.

Institutional Investors Weigh In On Gaming and Leisure Properties

Several hedge funds have recently bought and sold shares of GLPI. Franklin Resources Inc. lifted its stake in shares of Gaming and Leisure Properties by 7.8% in the 3rd quarter. Franklin Resources Inc. now owns 12,259,224 shares of the real estate investment trust’s stock valued at $641,059,000 after purchasing an additional 889,698 shares during the period. State Street Corp grew its position in Gaming and Leisure Properties by 1.4% during the third quarter. State Street Corp now owns 12,135,195 shares of the real estate investment trust’s stock valued at $624,356,000 after buying an additional 162,484 shares during the period. Geode Capital Management LLC increased its holdings in Gaming and Leisure Properties by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,080,860 shares of the real estate investment trust’s stock valued at $312,316,000 after buying an additional 161,689 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Gaming and Leisure Properties by 6.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,534,033 shares of the real estate investment trust’s stock worth $284,726,000 after acquiring an additional 341,492 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Gaming and Leisure Properties by 9.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,104,552 shares of the real estate investment trust’s stock worth $185,564,000 after acquiring an additional 350,250 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.