Barclays Cuts Gaming and Leisure Properties (NASDAQ:GLPI) Price Target to $53.00

Gaming and Leisure Properties (NASDAQ:GLPI - Free Report) had its target price lowered by Barclays from $55.00 to $53.00 in a report issued on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the real estate investment trust's stock.

GLPI has been the subject of several other reports. Stifel Nicolaus increased their price objective on Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Royal Bank of Canada reduced their price objective on shares of Gaming and Leisure Properties from $57.00 to $56.00 and set an "outperform" rating on the stock in a report on Monday, February 24th. JMP Securities reaffirmed a "market outperform" rating and issued a $55.00 target price on shares of Gaming and Leisure Properties in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Gaming and Leisure Properties from a "hold" rating to a "buy" rating and lifted their price target for the company from $49.00 to $54.00 in a research report on Wednesday, November 20th. Finally, Scotiabank decreased their price objective on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a "sector perform" rating on the stock in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Gaming and Leisure Properties currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.04.

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Gaming and Leisure Properties Trading Up 1.2 %

NASDAQ:GLPI traded up $0.58 during trading hours on Tuesday, hitting $50.61. The company had a trading volume of 2,344,373 shares, compared to its average volume of 1,188,070. Gaming and Leisure Properties has a 1 year low of $41.80 and a 1 year high of $52.60. The company has a market cap of $13.91 billion, a P/E ratio of 17.63, a P/E/G ratio of 2.01 and a beta of 0.99. The company has a 50-day moving average of $48.48 and a 200 day moving average of $49.80. 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 (NASDAQ:GLPI - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.01. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. The firm had revenue of $389.62 million during the quarter, compared to analyst estimates of $391.54 million. Sell-side analysts expect that Gaming and Leisure Properties will post 3.81 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.76 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.04 annualized dividend and a yield of 6.01%. Gaming and Leisure Properties's dividend payout ratio (DPR) is 105.92%.

Insider Buying and Selling

In other Gaming and Leisure Properties news, COO Brandon John Moore sold 3,982 shares of Gaming and Leisure Properties stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $47.84, for a total transaction of $190,498.88. Following the completion of the sale, the chief operating officer now directly owns 278,634 shares of the company's stock, valued at $13,329,850.56. The trade was a 1.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Matthew Demchyk sold 6,419 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $50.45, for a total value of $323,838.55. Following the transaction, the senior vice president now directly owns 43,201 shares of the company's stock, valued at approximately $2,179,490.45. This represents a 12.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,161 shares of company stock worth $2,425,521 over the last 90 days. 4.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Gaming and Leisure Properties

Several hedge funds have recently added to or reduced their stakes in GLPI. Freedom Investment Management Inc. raised its stake in Gaming and Leisure Properties by 3.8% during the 4th quarter. Freedom Investment Management Inc. now owns 6,063 shares of the real estate investment trust's stock valued at $292,000 after acquiring an additional 222 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Gaming and Leisure Properties by 8.7% in the 4th quarter. GAMMA Investing LLC now owns 2,826 shares of the real estate investment trust's stock valued at $136,000 after purchasing an additional 226 shares during the last quarter. Opal Wealth Advisors LLC increased its holdings in shares of Gaming and Leisure Properties by 4.9% in the fourth quarter. Opal Wealth Advisors LLC now owns 5,082 shares of the real estate investment trust's stock valued at $245,000 after purchasing an additional 238 shares during the period. Seeds Investor LLC raised its stake in shares of Gaming and Leisure Properties by 3.6% during the fourth quarter. Seeds Investor LLC now owns 7,350 shares of the real estate investment trust's stock worth $354,000 after purchasing an additional 254 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its holdings in shares of Gaming and Leisure Properties by 5.1% during the third quarter. Integrated Wealth Concepts LLC now owns 5,433 shares of the real estate investment trust's stock worth $280,000 after purchasing an additional 262 shares during the period. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

About Gaming and Leisure Properties

Gaming & Leisure Properties, Inc engages in 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.