Gaming and Leisure Properties (NASDAQ:GLPI) Reaches New 52-Week High at $50.88

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $50.88 and last traded at $50.65, with a volume of 1153693 shares trading hands. The stock had previously closed at $49.74.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wells Fargo & Company lowered their target price on Gaming and Leisure Properties from $49.00 to $48.00 and set an "equal weight" rating for the company in a research note on Thursday, May 30th. Morgan Stanley reissued an "overweight" rating and issued a $53.00 price objective on shares of Gaming and Leisure Properties in a research note on Friday, June 21st. Mizuho decreased their target price on shares of Gaming and Leisure Properties from $47.00 to $46.00 and set a "neutral" rating on the stock in a research note on Friday, May 10th. StockNews.com upgraded Gaming and Leisure Properties from a "hold" rating to a "buy" rating in a research note on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a "hold" rating in a research report on Monday, July 29th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Gaming and Leisure Properties presently has an average rating of "Moderate Buy" and a consensus target price of $51.89.

Gaming and Leisure Properties Price Performance

The firm has a market capitalization of $13.78 billion, a P/E ratio of 18.72, a PEG ratio of 5.14 and a beta of 0.98. The company has a fifty day moving average of $47.29 and a 200 day moving average of $45.61. The company has a debt-to-equity ratio of 1.49, a current ratio of 5.91 and a quick ratio of 5.91.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). The firm had revenue of $380.60 million during the quarter, compared to the consensus estimate of $377.95 million. Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The company's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 earnings per share. Sell-side analysts predict that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current year.

Insider Transactions at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 5,605 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $48.89, for a total transaction of $274,028.45. Following the completion of the sale, the director now owns 156,685 shares of the company's stock, valued at $7,660,329.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in shares of Gaming and Leisure Properties by 40.8% during the 4th quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust's stock worth $627,204,000 after purchasing an additional 3,684,553 shares in the last quarter. Putnam Investments LLC increased its holdings in shares of Gaming and Leisure Properties by 3.1% during the fourth quarter. Putnam Investments LLC now owns 9,511,521 shares of the real estate investment trust's stock valued at $469,394,000 after acquiring an additional 282,828 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Gaming and Leisure Properties by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 8,921,163 shares of the real estate investment trust's stock valued at $440,259,000 after acquiring an additional 150,055 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Gaming and Leisure Properties by 4.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,489,160 shares of the real estate investment trust's stock worth $252,886,000 after purchasing an additional 211,709 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Gaming and Leisure Properties by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,104,552 shares of the real estate investment trust's stock valued at $185,564,000 after purchasing an additional 350,250 shares during the period. 91.14% of the stock is owned by institutional investors.

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.