Gaming and Leisure Properties (NASDAQ:GLPI) Rating Increased to Overweight at JPMorgan Chase & Co.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) was upgraded by stock analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research report issued on Friday, MarketBeat Ratings reports. The firm presently has a $54.00 target price on the real estate investment trust's stock, up from their prior target price of $49.00. JPMorgan Chase & Co.'s price target indicates a potential upside of 7.81% from the company's current price.

Several other research analysts have also commented on the stock. Raymond James raised their price objective on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an "outperform" rating in a research note on Wednesday, August 21st. Wolfe Research upgraded Gaming and Leisure Properties from a "peer perform" rating to an "outperform" rating and set a $57.00 price objective on the stock in a research note on Friday, August 23rd. JMP Securities reissued a "market outperform" rating and set a $55.00 target price on shares of Gaming and Leisure Properties in a research note on Tuesday, October 29th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $52.00 price objective (up previously from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Gaming and Leisure Properties from a "hold" rating to a "buy" rating and raised their target price for the company from $49.00 to $54.00 in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Gaming and Leisure Properties has a consensus rating of "Moderate Buy" and an average price target of $53.96.

Gaming and Leisure Properties Trading Up 1.0 %

Gaming and Leisure Properties stock traded up $0.49 during trading on Friday, hitting $50.09. The company had a trading volume of 1,095,965 shares, compared to its average volume of 1,299,211. The stock has a market cap of $13.74 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 2.10 and a beta of 0.98. 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 has a 1-year low of $41.80 and a 1-year high of $52.60. The company's 50 day simple moving average is $50.50 and its 200-day simple moving average is $48.96.

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

Insider Activity

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 6,885 shares of the company's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.16, for a total transaction of $345,351.60. Following the completion of the sale, the director now directly owns 149,800 shares of the company's stock, valued at $7,513,968. This represents a 4.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.37% of the company's stock.

Institutional Investors Weigh In On Gaming and Leisure Properties

Several large investors have recently modified their holdings of GLPI. Assetmark Inc. grew its position in Gaming and Leisure Properties by 2,547.6% in the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 535 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Gaming and Leisure Properties by 142.2% in the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 384 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Gaming and Leisure Properties during the second quarter worth about $31,000. EverSource Wealth Advisors LLC raised its holdings in Gaming and Leisure Properties by 578.4% during the second quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 590 shares in the last quarter. Finally, EdgeRock Capital LLC acquired a new stake in Gaming and Leisure Properties in the second quarter valued at about $33,000. Hedge funds and other institutional investors own 91.14% of the company's stock.

Gaming and Leisure Properties Company Profile

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.