Scotiabank Boosts Gaming and Leisure Properties (NASDAQ:GLPI) Price Target to $48.00

Gaming and Leisure Properties (NASDAQ:GLPIFree Report) had its price objective boosted by Scotiabank from $47.00 to $48.00 in a research note published on Thursday morning, Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Several other analysts also recently weighed in on the stock. Mizuho reduced their price objective on shares of Gaming and Leisure Properties from $47.00 to $46.00 and set a neutral rating for the company in a research report on Friday, May 10th. Royal Bank of Canada reduced their price target on shares of Gaming and Leisure Properties from $49.00 to $47.00 and set an outperform rating for the company in a research report on Monday, April 29th. StockNews.com lowered Gaming and Leisure Properties from a buy rating to a hold rating in a report on Thursday, May 9th. Morgan Stanley reduced their target price on Gaming and Leisure Properties from $55.00 to $53.00 and set an overweight rating for the company in a report on Thursday, March 21st. Finally, JMP Securities restated a market outperform rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $51.46.

Get Our Latest Stock Report on GLPI

Gaming and Leisure Properties Stock Performance

NASDAQ:GLPI opened at $46.04 on Thursday. Gaming and Leisure Properties has a 12 month low of $41.80 and a 12 month high of $50.59. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.47 and a quick ratio of 6.47. The firm has a market capitalization of $12.50 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 5.42 and a beta of 0.94. The business’s fifty day moving average price is $44.46 and its 200 day moving average price is $45.72.

Gaming and Leisure Properties (NASDAQ:GLPIGet Free Report) last released its quarterly earnings data 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). Gaming and Leisure Properties had a net margin of 50.05% and a return on equity of 16.79%. The business had revenue of $376.00 million during the quarter, compared to analysts’ expectations of $368.44 million. During the same quarter in the previous year, the company posted $0.92 EPS. The company’s revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Gaming and Leisure Properties will post 3.66 earnings per share for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 annualized dividend and a dividend yield of 6.60%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 112.18%.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director E Scott Urdang bought 2,500 shares of Gaming and Leisure Properties stock in a transaction dated Friday, March 1st. The stock was bought at an average price of $45.00 per share, for a total transaction of $112,500.00. Following the purchase, the director now owns 156,685 shares of the company’s stock, valued at $7,050,825. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gaming and Leisure Properties

Large investors have recently modified their holdings of the business. Headlands Technologies LLC acquired a new position in Gaming and Leisure Properties during the fourth quarter worth $30,000. Operose Advisors LLC acquired a new stake in shares of Gaming and Leisure Properties in the third quarter valued at about $32,000. EdgeRock Capital LLC purchased a new stake in Gaming and Leisure Properties during the fourth quarter worth about $33,000. MCF Advisors LLC grew its position in Gaming and Leisure Properties by 416.7% during the first quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 600 shares during the period. Finally, Mather Group LLC. acquired a new position in Gaming and Leisure Properties during the first quarter worth about $42,000. 91.14% of the stock is owned by hedge funds and other institutional investors.

About Gaming and Leisure Properties

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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.

Further Reading

Analyst Recommendations for Gaming and Leisure Properties (NASDAQ:GLPI)

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