Gaming and Leisure Properties (NASDAQ:GLPI) Given New $49.00 Price Target at Citigroup

Gaming and Leisure Properties (NASDAQ:GLPI) had its price objective dropped by stock analysts at Citigroup from $59.00 to $49.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Citigroup‘s price objective would suggest a potential upside of 23.02% from the company’s previous close.

A number of other equities analysts also recently weighed in on GLPI. Weiss Ratings downgraded shares of Gaming and Leisure Properties from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Raymond James Financial reaffirmed an “outperform” rating and set a $47.00 price target on shares of Gaming and Leisure Properties in a research report on Thursday, August 13th. JPMorgan Chase & Co. cut shares of Gaming and Leisure Properties from an “overweight” rating to a “neutral” rating and set a $46.00 price target on the stock. in a research report on Thursday, September 24th. Royal Bank Of Canada decreased their price target on Gaming and Leisure Properties from $54.00 to $52.00 and set an “outperform” rating for the company in a report on Monday, August 3rd. Finally, Wells Fargo & Company lowered their price objective on Gaming and Leisure Properties from $43.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, October 19th. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $47.36.

Gaming and Leisure Properties Trading Up 1.7%

GLPI traded up $0.66 during midday trading on Wednesday, hitting $39.83. 3,006,112 shares of the company were exchanged, compared to its average volume of 2,614,526. The firm’s 50 day moving average price is $39.73 and its 200-day moving average price is $44.44. Gaming and Leisure Properties has a 1-year low of $37.33 and a 1-year high of $49.95. The firm has a market capitalization of $11.59 billion, a P/E ratio of 12.18, a P/E/G ratio of 1.64 and a beta of 0.64. The company has a quick ratio of 5.38, a current ratio of 5.38 and a debt-to-equity ratio of 1.52.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The company had revenue of $435.45 million during the quarter, compared to analyst estimates of $436.30 million. Gaming and Leisure Properties had a return on equity of 18.16% and a net margin of 55.71%. Gaming and Leisure Properties’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 earnings per share. As a group, equities analysts forecast that Gaming and Leisure Properties will post 4.03 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Earl C. Shanks acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was purchased at an average price of $42.24 per share, for a total transaction of $422,400.00. Following the completion of the acquisition, the director directly owned 107,259 shares in the company, valued at $4,530,620.16. The trade was a 10.28% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 4.11% of the company’s stock.

Institutional Trading of Gaming and Leisure Properties

Hedge funds have recently bought and sold shares of the business. AlphaCore Capital LLC raised its stake in shares of Gaming and Leisure Properties by 104.3% during the third quarter. AlphaCore Capital LLC now owns 11,399 shares of the real estate investment trust’s stock worth $433,000 after acquiring an additional 5,820 shares in the last quarter. University of Texas Texas AM Investment Management Co. boosted its stake in shares of Gaming and Leisure Properties by 38.7% in the 3rd quarter. University of Texas Texas AM Investment Management Co. now owns 1,675 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 467 shares in the last quarter. StoneX Group Inc. purchased a new stake in shares of Gaming and Leisure Properties in the 3rd quarter valued at $678,000. Parallel Advisors LLC grew its holdings in shares of Gaming and Leisure Properties by 83.3% during the 3rd quarter. Parallel Advisors LLC now owns 9,805 shares of the real estate investment trust’s stock valued at $372,000 after purchasing an additional 4,455 shares during the last quarter. Finally, Alps Advisors Inc. grew its holdings in shares of Gaming and Leisure Properties by 12.4% during the 3rd quarter. Alps Advisors Inc. now owns 5,977 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 660 shares during the last quarter. Institutional investors and hedge funds own 91.14% of the company’s stock.

Gaming and Leisure Properties Company Profile

Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust that owns and leases gaming and entertainment properties. The company primarily operates as a landlord, generating rental income through long-term agreements with casino operators rather than directly managing most of the gaming facilities located on its properties.

GLPI’s portfolio includes casinos, resorts, racetracks and related entertainment facilities across the United States. Its leases are generally structured as triple-net agreements, under which tenants are typically responsible for property-level expenses such as maintenance, insurance and real estate taxes.