Mizuho Forecasts Strong Price Appreciation for Gaming and Leisure Properties (NASDAQ:GLPI) Stock

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target boosted by analysts at Mizuho from $51.00 to $53.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s target price would suggest a potential upside of 10.67% from the company’s current price.

Other research analysts have also recently issued reports about the company. JMP Securities reaffirmed a “market outperform” rating and set a $55.00 price objective on shares of Gaming and Leisure Properties in a research note on Wednesday, December 18th. Barclays dropped their target price on Gaming and Leisure Properties from $55.00 to $53.00 and set an “equal weight” rating for the company in a report on Tuesday, March 4th. Royal Bank of Canada decreased their price target on Gaming and Leisure Properties from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. Morgan Stanley lowered Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price objective for the company. in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company raised their target price on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.11.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ GLPI opened at $47.89 on Thursday. The stock’s 50-day moving average is $49.66 and its 200 day moving average is $49.66. The stock has a market cap of $13.16 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 2.01 and a beta of 1.00. Gaming and Leisure Properties has a 1-year low of $41.80 and a 1-year high of $52.60. 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 (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 EPS for the quarter, topping the consensus estimate of $0.94 by $0.01. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. The firm had revenue of $389.62 million for the quarter, compared to the consensus estimate of $391.54 million. On average, sell-side analysts anticipate that Gaming and Leisure Properties will post 3.81 EPS for the current fiscal year.

Insider Activity at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, SVP Matthew Demchyk sold 10,474 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $48.62, for a total transaction of $509,245.88. Following the transaction, the senior vice president now owns 71,757 shares in the company, valued at approximately $3,488,825.34. This represents a 12.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director E Scott Urdang sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $50.89, for a total value of $254,450.00. Following the completion of the transaction, the director now directly owns 140,953 shares of the company’s stock, valued at $7,173,098.17. This represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,933 shares of company stock worth $2,533,487 over the last 90 days. 4.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Gaming and Leisure Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLPI. Dodge & Cox lifted its position in Gaming and Leisure Properties by 75.3% during the 4th quarter. Dodge & Cox now owns 13,498,634 shares of the real estate investment trust’s stock valued at $650,094,000 after acquiring an additional 5,797,299 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Gaming and Leisure Properties by 4.7% during the fourth quarter. Franklin Resources Inc. now owns 12,830,944 shares of the real estate investment trust’s stock valued at $617,938,000 after purchasing an additional 571,720 shares during the last quarter. State Street Corp boosted its position in shares of Gaming and Leisure Properties by 1.4% in the 3rd quarter. State Street Corp now owns 12,135,195 shares of the real estate investment trust’s stock worth $624,356,000 after purchasing an additional 162,484 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Gaming and Leisure Properties by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 6,245,884 shares of the real estate investment trust’s stock worth $300,395,000 after buying an additional 165,024 shares during the last quarter. Finally, Jennison Associates LLC increased its position in Gaming and Leisure Properties by 5.2% during the 4th quarter. Jennison Associates LLC now owns 4,287,118 shares of the real estate investment trust’s stock valued at $206,468,000 after buying an additional 211,657 shares in the last quarter. Hedge funds and other institutional investors own 91.14% of the company’s stock.

About Gaming and Leisure Properties

Gaming & Leisure Properties, Inc engages in the provision of 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.