Barclays Forecasts Strong Price Appreciation for Gaming and Leisure Properties (NASDAQ:GLPI) Stock

Gaming and Leisure Properties (NASDAQ:GLPI - Free Report) had its price objective upped by Barclays from $53.00 to $54.00 in a report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust's stock.

Several other equities analysts have also recently weighed in on the stock. Mizuho increased their price objective on shares of Gaming and Leisure Properties from $51.00 to $53.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Morgan Stanley lowered Gaming and Leisure Properties from an "overweight" rating to an "equal weight" rating and set a $53.00 price target for the company. in a research note on Wednesday, January 15th. Wells Fargo & Company increased their target price on Gaming and Leisure Properties from $50.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Scotiabank lowered their price target on 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. Finally, Royal Bank of Canada cut their price objective on shares of Gaming and Leisure Properties from $57.00 to $56.00 and set an "outperform" rating for the company in a report on Monday, February 24th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $54.18.

Gaming and Leisure Properties Trading Down 3.4 %

Shares of NASDAQ GLPI traded down $1.68 during trading hours on Tuesday, hitting $47.36. The company's stock had a trading volume of 1,002,546 shares, compared to its average volume of 1,248,778. Gaming and Leisure Properties has a 12 month low of $42.20 and a 12 month high of $52.60. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. The business has a 50-day simple moving average of $49.45 and a 200-day simple moving average of $49.35. The stock has a market cap of $13.01 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 2.01 and a beta of 0.72.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share for the quarter, meeting analysts' consensus estimates of $0.96. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. The firm had revenue of $395.24 million for the quarter, compared to analyst estimates of $396.27 million. On average, analysts anticipate that Gaming and Leisure Properties will post 3.81 earnings per share for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.76 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.04 dividend on an annualized basis and a yield of 6.42%. Gaming and Leisure Properties's dividend payout ratio is currently 105.92%.

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $49.72, for a total value of $248,600.00. Following the completion of the transaction, the director now owns 145,953 shares of the company's stock, valued at $7,256,783.16. The trade was a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Matthew Demchyk sold 1,138 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $50.45, for a total transaction of $57,412.10. Following the completion of the sale, the senior vice president now owns 53,002 shares in the company, valued at $2,673,950.90. This represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,459 shares of company stock worth $2,024,241. Company insiders own 4.37% of the company's stock.

Institutional Trading of Gaming and Leisure Properties

Several large investors have recently made changes to their positions in the business. Pure Financial Advisors LLC grew its holdings in Gaming and Leisure Properties by 2.6% during the first quarter. Pure Financial Advisors LLC now owns 8,676 shares of the real estate investment trust's stock worth $442,000 after acquiring an additional 221 shares during the period. Freedom Investment Management Inc. boosted its holdings in Gaming and Leisure Properties by 3.8% during the fourth quarter. Freedom Investment Management Inc. now owns 6,063 shares of the real estate investment trust's stock worth $292,000 after buying an additional 222 shares in the last quarter. GAMMA Investing LLC grew its position in Gaming and Leisure Properties by 8.7% during the fourth quarter. GAMMA Investing LLC now owns 2,826 shares of the real estate investment trust's stock valued at $136,000 after buying an additional 226 shares during the period. Opal Wealth Advisors LLC increased its holdings in 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 buying an additional 238 shares in the last quarter. Finally, Seeds Investor LLC raised its position in shares of Gaming and Leisure Properties by 3.6% in the fourth quarter. Seeds Investor LLC now owns 7,350 shares of the real estate investment trust's stock worth $354,000 after acquiring an additional 254 shares during the period. 91.14% of the stock is owned by hedge funds and other institutional investors.

About Gaming and Leisure Properties

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.