Mizuho Lowers Gaming and Leisure Properties (NASDAQ:GLPI) Price Target to $51.00

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) had its target price cut by equities researchers at Mizuho from $52.00 to $51.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the real estate investment trust's stock. Mizuho's price objective points to a potential upside of 4.68% from the stock's previous close.

Several other research analysts have also recently issued reports on the company. Stifel Nicolaus increased their price target on Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a "buy" rating in a research note on Friday, July 26th. Wolfe Research raised Gaming and Leisure Properties from a "peer perform" rating to an "outperform" rating and set a $57.00 price target for the company in a research note on Friday, August 23rd. Raymond James increased their price target on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 21st. StockNews.com cut Gaming and Leisure Properties from a "buy" rating to a "hold" rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company reissued an "equal weight" rating and issued a $52.00 price target (up previously from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $52.54.

Gaming and Leisure Properties Stock Performance

NASDAQ GLPI traded down $0.37 during trading hours on Thursday, hitting $48.72. The company had a trading volume of 932,890 shares, compared to its average volume of 1,316,331. Gaming and Leisure Properties has a fifty-two week low of $41.80 and a fifty-two week high of $52.60. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. The business has a fifty day simple moving average of $50.84 and a 200-day simple moving average of $48.11. The firm has a market cap of $13.37 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 2.12 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last issued its earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $385.34 million during the quarter, compared to analyst estimates of $385.09 million. During the same period in the prior year, the business earned $0.92 earnings per share. Gaming and Leisure Properties's quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts predict that Gaming and Leisure Properties will post 3.67 EPS for the current year.

Insider Buying and Selling

In related news, Director E Scott Urdang sold 3,000 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $50.39, for a total value of $151,170.00. Following the completion of the sale, the director now directly owns 146,800 shares of the company's stock, valued at approximately $7,397,252. This represents a 2.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Brandon John Moore sold 30,900 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $50.05, for a total value of $1,546,545.00. Following the completion of the sale, the chief operating officer now directly owns 208,977 shares of the company's stock, valued at approximately $10,459,298.85. This represents a 12.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director E Scott Urdang sold 3,000 shares of the firm's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $50.39, for a total value of $151,170.00. Following the sale, the director now directly owns 146,800 shares of the company's stock, valued at $7,397,252. This trade represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,758 shares of company stock valued at $2,717,922. Corporate insiders own 4.37% of the company's stock.

Institutional Investors Weigh In On Gaming and Leisure Properties

Hedge funds and other institutional investors have recently made changes to their positions in the company. Assetmark Inc. increased its holdings in shares of Gaming and Leisure Properties by 2,547.6% during the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 535 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Gaming and Leisure Properties during the 2nd quarter worth approximately $31,000. EdgeRock Capital LLC bought a new position in shares of Gaming and Leisure Properties during the 2nd quarter worth approximately $33,000. Versant Capital Management Inc lifted its position in shares of Gaming and Leisure Properties by 18,500.0% during the 2nd quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust's stock worth $34,000 after buying an additional 740 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of Gaming and Leisure Properties by 142.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust's stock worth $34,000 after buying an additional 384 shares during the period. 91.14% of the stock is owned by hedge funds and other institutional investors.

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.