Gaming and Leisure Properties (NASDAQ:GLPI) Earns “Equal Weight” Rating from Wells Fargo & Company

Gaming and Leisure Properties (NASDAQ:GLPI)‘s stock had its “equal weight” rating restated by equities research analysts at Wells Fargo & Company in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $52.00 price target on the real estate investment trust’s stock, up from their prior price target of $51.00. Wells Fargo & Company‘s price target points to a potential upside of 1.62% from the company’s previous close.

A number of other equities research analysts have also commented on the company. UBS Group raised their price objective on Gaming and Leisure Properties from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Stifel Nicolaus boosted their price target 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. Raymond James raised their price objective on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Scotiabank boosted their target price on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 16th. Finally, JMP Securities increased their price target on shares of 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. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.18.

Gaming and Leisure Properties Price Performance

NASDAQ:GLPI traded down $0.28 during midday trading on Tuesday, hitting $51.17. 290,866 shares of the stock were exchanged, compared to its average volume of 1,326,542. The company has a market capitalization of $13.89 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 5.36 and a beta of 0.99. Gaming and Leisure Properties has a one year low of $41.80 and a one year high of $52.60. The business has a 50-day moving average price of $50.47 and a two-hundred day moving average price of $46.74. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.15). Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The company had revenue of $380.60 million during the quarter, compared to the consensus estimate of $377.95 million. During the same period in the prior year, the company posted $0.92 EPS. Gaming and Leisure Properties’s quarterly revenue was up 6.7% on a year-over-year basis. Sell-side analysts predict that Gaming and Leisure Properties will post 3.67 EPS for the current year.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 12,973 shares of Gaming and Leisure Properties stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $52.02, for a total value of $674,855.46. Following the transaction, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 12,973 shares of Gaming and Leisure Properties stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $52.02, for a total value of $674,855.46. Following the transaction, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Brandon John Moore sold 30,900 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $50.05, for a total value of $1,546,545.00. Following the sale, the chief operating officer now owns 208,977 shares in the company, valued at $10,459,298.85. The disclosure for this sale can be found here. Insiders have sold 49,478 shares of company stock valued at $2,495,429 in the last 90 days. 4.40% of the stock is currently owned by insiders.

Institutional Trading of Gaming and Leisure Properties

Institutional investors and hedge funds have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of Gaming and Leisure Properties during the second quarter valued at approximately $31,000. EverSource Wealth Advisors LLC grew its position in Gaming and Leisure Properties by 578.4% in the second quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 590 shares during the period. EdgeRock Capital LLC bought a new stake in Gaming and Leisure Properties in the second quarter valued at $33,000. MCF Advisors LLC grew its position 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 acquiring an additional 600 shares during the period. Finally, Versant Capital Management Inc grew its position in 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 acquiring an additional 740 shares during the period. 91.14% of the stock is currently owned by institutional investors.

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.