JMP Securities Reiterates Market Outperform Rating for Gaming and Leisure Properties (NASDAQ:GLPI)

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report)'s stock had its "market outperform" rating reiterated by research analysts at JMP Securities in a research report issued on Wednesday,Benzinga reports. They presently have a $55.00 price target on the real estate investment trust's stock. JMP Securities' price objective would indicate a potential upside of 16.77% from the stock's current price.

GLPI has been the topic of several other reports. Mizuho decreased their price objective on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Gaming and Leisure Properties from a "hold" rating to a "buy" rating and raised their price objective for the company from $49.00 to $54.00 in a research report on Wednesday, November 20th. Barclays assumed coverage on shares of Gaming and Leisure Properties in a research report on Tuesday. They issued an "equal weight" rating and a $54.53 target price for the company. Wolfe Research upgraded Gaming and Leisure Properties from a "peer perform" rating to an "outperform" rating and set a $57.00 price target on the stock in a research report on Friday, August 23rd. Finally, Stifel Nicolaus lifted their price target on Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Gaming and Leisure Properties presently has an average rating of "Moderate Buy" and an average price target of $54.00.

Gaming and Leisure Properties Price Performance

NASDAQ GLPI traded down $1.89 on Wednesday, hitting $47.10. The stock had a trading volume of 1,381,256 shares, compared to its average volume of 1,298,933. The firm has a 50-day moving average of $50.34 and a 200-day moving average of $49.12. The company has a market capitalization of $12.92 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 2.10 and a beta of 0.98. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. Gaming and Leisure Properties has a 52-week low of $41.80 and a 52-week high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.25). Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The business had revenue of $385.34 million during the quarter, compared to analysts' expectations of $385.09 million. During the same quarter last year, the business posted $0.92 EPS. The company's quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts expect that Gaming and Leisure Properties will post 3.67 EPS for the current year.

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 3,000 shares of the business's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $50.39, for a total transaction of $151,170.00. Following the transaction, the director now owns 146,800 shares in the company, valued at $7,397,252. The trade was a 2.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.37% of the stock is currently owned by company insiders.

Institutional Trading of Gaming and Leisure Properties

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLPI. Segall Bryant & Hamill LLC bought a new position in Gaming and Leisure Properties in the 3rd quarter worth $693,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Gaming and Leisure Properties by 63.1% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 51,991 shares of the real estate investment trust's stock worth $2,351,000 after buying an additional 20,111 shares in the last quarter. Sei Investments Co. lifted its holdings in Gaming and Leisure Properties by 11.4% in the second quarter. Sei Investments Co. now owns 539,593 shares of the real estate investment trust's stock worth $24,395,000 after buying an additional 55,385 shares during the period. Zacks Investment Management boosted its position in Gaming and Leisure Properties by 10.9% during the 3rd quarter. Zacks Investment Management now owns 522,197 shares of the real estate investment trust's stock valued at $26,867,000 after acquiring an additional 51,398 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in Gaming and Leisure Properties by 87.5% during the 3rd quarter. Cerity Partners LLC now owns 14,410 shares of the real estate investment trust's stock valued at $741,000 after acquiring an additional 6,724 shares in the last quarter. Hedge funds and other institutional investors own 91.14% of the company's stock.

About Gaming and Leisure Properties

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.