Brokerages Set Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Target Price at $54.63

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) has been given an average recommendation of “Moderate Buy” by the fourteen brokerages that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $54.50.

Several research analysts have commented on the stock. Royal Bank of Canada cut their price target on shares of Gaming and Leisure Properties from $56.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Mizuho boosted their price objective on shares of Gaming and Leisure Properties from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Barclays boosted their price target on shares of Gaming and Leisure Properties from $53.00 to $54.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 22nd. Wedbush set a $55.00 price objective on shares of Gaming and Leisure Properties in a report on Monday, April 28th. Finally, Scotiabank dropped their target price on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Monday, May 12th.

Insider Buying and Selling at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 5,000 shares of Gaming and Leisure Properties stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $50.89, for a total transaction 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 approximately $7,173,098.17. The trade was a 3.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Matthew Demchyk sold 1,903 shares of Gaming and Leisure Properties stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $51.99, for a total transaction of $98,936.97. Following the transaction, the senior vice president now directly owns 41,298 shares of the company’s stock, valued at approximately $2,147,083.02. This represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gaming and Leisure Properties

Large investors have recently modified their holdings of the business. Alpine Bank Wealth Management bought a new position in shares of Gaming and Leisure Properties during the 1st quarter worth approximately $26,000. Private Trust Co. NA purchased a new position in Gaming and Leisure Properties during the first quarter valued at $28,000. TD Private Client Wealth LLC lifted its holdings in Gaming and Leisure Properties by 64.2% during the first quarter. TD Private Client Wealth LLC now owns 545 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 213 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of Gaming and Leisure Properties in the fourth quarter valued at about $31,000. Finally, Wayfinding Financial LLC acquired a new stake in shares of Gaming and Leisure Properties in the first quarter valued at about $33,000. Institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Price Performance

Gaming and Leisure Properties stock opened at $46.32 on Friday. Gaming and Leisure Properties has a 52 week low of $42.86 and a 52 week high of $52.60. The company’s 50 day moving average price is $47.60 and its two-hundred day moving average price is $48.66. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. The stock has a market cap of $12.73 billion, a P/E ratio of 16.14, a P/E/G ratio of 2.01 and a beta of 0.81.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. The company had revenue of $395.24 million during the quarter, compared to analyst estimates of $396.27 million. During the same quarter last year, the business posted $0.92 EPS. Gaming and Leisure Properties’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts predict that Gaming and Leisure Properties will post 3.81 earnings per share for the current year.

Gaming and Leisure Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 6.74%. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, June 13th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 111.03%.

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.