Gaming and Leisure Properties (NASDAQ:GLPI) Stock Rating Reaffirmed by JMP Securities

Gaming and Leisure Properties (NASDAQ:GLPI)‘s stock had its “market outperform” rating restated by investment analysts at JMP Securities in a report issued on Tuesday, Benzinga reports. They presently have a $53.00 price objective on the real estate investment trust’s stock. JMP Securities’ target price would indicate a potential upside of 16.05% from the stock’s current price.

GLPI has been the topic of several other reports. Scotiabank boosted their price objective on Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 16th. Wedbush restated an “outperform” rating and set a $51.00 price target on shares of Gaming and Leisure Properties in a report on Friday, May 17th. Morgan Stanley dropped their price objective on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st. Royal Bank of Canada cut their price objective on shares of Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Finally, Stifel Nicolaus raised their target price on shares of Gaming and Leisure Properties from $50.75 to $51.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.46.

Gaming and Leisure Properties Price Performance

NASDAQ:GLPI opened at $45.67 on Tuesday. The company has a market capitalization of $12.40 billion, a P/E ratio of 16.85, a P/E/G ratio of 5.47 and a beta of 0.94. The business’s 50-day moving average is $44.44 and its 200 day moving average is $45.72. The company has a current ratio of 6.47, a quick ratio of 6.47 and a debt-to-equity ratio of 1.49. Gaming and Leisure Properties has a 12 month low of $41.80 and a 12 month high of $50.59.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Friday, April 26th. The real estate investment trust reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). The firm had revenue of $376.00 million for the quarter, compared to the consensus estimate of $368.44 million. Gaming and Leisure Properties had a net margin of 50.05% and a return on equity of 16.79%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 earnings per share. On average, equities research analysts forecast that Gaming and Leisure Properties will post 3.66 earnings per share for the current fiscal year.

Insider Activity

In other Gaming and Leisure Properties news, Director E Scott Urdang bought 2,500 shares of the company’s stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the acquisition, the director now directly owns 156,685 shares in the company, valued at $7,050,825. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional Trading of Gaming and Leisure Properties

A number of hedge funds have recently bought and sold shares of GLPI. M&T Bank Corp boosted its holdings in shares of Gaming and Leisure Properties by 0.9% in the 3rd quarter. M&T Bank Corp now owns 42,836 shares of the real estate investment trust’s stock valued at $1,952,000 after buying an additional 374 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Gaming and Leisure Properties by 41.3% during the third quarter. California Public Employees Retirement System now owns 653,721 shares of the real estate investment trust’s stock worth $29,777,000 after purchasing an additional 190,975 shares in the last quarter. Aspire Private Capital LLC lifted its holdings in shares of Gaming and Leisure Properties by 27.9% during the 3rd quarter. Aspire Private Capital LLC now owns 10,542 shares of the real estate investment trust’s stock valued at $480,000 after purchasing an additional 2,298 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Gaming and Leisure Properties during the 3rd quarter valued at $337,000. Finally, Corrado Advisors LLC acquired a new stake in shares of Gaming and Leisure Properties in the 3rd quarter worth $221,000. Hedge funds and other 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.