Mizuho Cuts Gaming and Leisure Properties (NASDAQ:GLPI) Price Target to $48.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its target price reduced by research analysts at Mizuho from $53.00 to $48.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price target would indicate a potential upside of 4.69% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. Macquarie reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Gaming and Leisure Properties in a research report on Friday, April 25th. Royal Bank of Canada reduced their target price on shares of Gaming and Leisure Properties from $56.00 to $54.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Scotiabank cut their price objective 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 report on Monday, May 12th. Wells Fargo & Company cut their price objective on shares of Gaming and Leisure Properties from $51.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Monday, June 2nd. Finally, Barclays increased their price objective 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. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.17.

Gaming and Leisure Properties Trading Down 0.8%

Shares of GLPI traded down $0.35 during mid-day trading on Monday, reaching $45.85. The company’s stock had a trading volume of 392,813 shares, compared to its average volume of 1,389,962. The stock has a market cap of $12.60 billion, a PE ratio of 15.98, a P/E/G ratio of 2.01 and a beta of 0.72. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. Gaming and Leisure Properties has a 52 week low of $43.20 and a 52 week high of $52.60. The company’s fifty day moving average price is $47.24 and its two-hundred day moving average price is $48.42.

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

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 4,000 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $46.58, for a total transaction of $186,320.00. Following the transaction, the director now owns 136,953 shares in the company, valued at $6,379,270.74. This trade represents a 2.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gaming and Leisure Properties

A number of hedge funds have recently modified their holdings of the business. Strs Ohio acquired a new position in Gaming and Leisure Properties in the 1st quarter valued at about $15,446,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Gaming and Leisure Properties by 731.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,212,612 shares of the real estate investment trust’s stock worth $112,622,000 after buying an additional 1,946,575 shares during the period. Caxton Associates LLP acquired a new position in Gaming and Leisure Properties during the first quarter worth approximately $1,154,000. Everstar Asset Management LLC acquired a new position in Gaming and Leisure Properties during the first quarter worth approximately $2,602,000. Finally, Presima Securities ULC raised its stake in shares of Gaming and Leisure Properties by 10.0% during the first quarter. Presima Securities ULC now owns 746,719 shares of the real estate investment trust’s stock worth $38,008,000 after purchasing an additional 67,632 shares during the last quarter. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Company Profile

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.