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

by · The Markets Daily

Wells Fargo & Company restated their equal weight rating on shares of Gaming and Leisure Properties (NASDAQ:GLPI – Free Report) in a report issued on Tuesday morning, Benzinga reports. The firm currently has a $52.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $51.00.

A number of other analysts have also recently weighed in on GLPI. Deutsche Bank Aktiengesellschaft increased their price target on Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a hold rating in a research report on Monday, July 29th. Raymond James raised their target price on 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. StockNews.com upgraded Gaming and Leisure Properties from a hold rating to a buy rating in a research report on Friday, July 19th. Wolfe Research upgraded Gaming and Leisure Properties from a peer perform rating to an outperform rating and set a $57.00 target price on the stock in a research report on Friday, August 23rd. Finally, UBS Group raised their target price on Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a buy rating in a research report on Tuesday, July 16th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $52.18.

Check Out Our Latest Report on Gaming and Leisure Properties

Gaming and Leisure Properties Stock Down 0.1 %

Shares of Gaming and Leisure Properties stock opened at $51.12 on Tuesday. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49. The business’s 50 day simple moving average is $50.56 and its 200-day simple moving average is $46.82. The stock has a market capitalization of $13.88 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 5.36 and a beta of 0.99. Gaming and Leisure Properties has a twelve month low of $41.80 and a twelve month high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI – Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). The company had revenue of $380.60 million for the quarter, compared to analyst estimates of $377.95 million. Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. Equities research analysts forecast that Gaming and Leisure Properties will post 3.67 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 5.95%. The ex-dividend date of this dividend was Friday, September 13th. Gaming and Leisure Properties’s payout ratio is currently 112.18%.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 5,605 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $48.89, for a total transaction of $274,028.45. Following the completion of the sale, the director now directly owns 156,685 shares of the company’s stock, valued at approximately $7,660,329.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Desiree A. Burke sold 12,973 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $52.02, for a total transaction of $674,855.46. Following the completion of the sale, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director E Scott Urdang sold 5,605 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the sale, the director now directly owns 156,685 shares of the company’s stock, valued at $7,660,329.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,478 shares of company stock valued at $2,495,429. 4.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Gaming and Leisure Properties

Several large investors have recently modified their holdings of GLPI. Ignite Planners LLC lifted its holdings in shares of Gaming and Leisure Properties by 1.8% in the second quarter. Ignite Planners LLC now owns 12,181 shares of the real estate investment trust’s stock valued at $543,000 after purchasing an additional 220 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Gaming and Leisure Properties by 0.7% in the second quarter. EP Wealth Advisors LLC now owns 33,990 shares of the real estate investment trust’s stock valued at $1,537,000 after purchasing an additional 220 shares in the last quarter. Moody National Bank Trust Division lifted its holdings in shares of Gaming and Leisure Properties by 1.2% in the first quarter. Moody National Bank Trust Division now owns 19,068 shares of the real estate investment trust’s stock valued at $878,000 after purchasing an additional 231 shares in the last quarter. Ieq Capital LLC lifted its holdings in shares of Gaming and Leisure Properties by 0.3% in the second quarter. Ieq Capital LLC now owns 90,749 shares of the real estate investment trust’s stock valued at $4,103,000 after purchasing an additional 257 shares in the last quarter. Finally, Private Advisor Group LLC lifted its holdings in shares of Gaming and Leisure Properties by 2.7% in the first quarter. Private Advisor Group LLC now owns 11,440 shares of the real estate investment trust’s stock valued at $527,000 after purchasing an additional 299 shares in the last quarter. 91.14% of the stock is owned by institutional investors.

About Gaming and Leisure Properties

(Get Free Report)

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.

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