Gaming and Leisure Properties (NASDAQ:GLPI) Reaches New 1-Year High at $51.43

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Get Free Report) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $51.43 and last traded at $51.37, with a volume of 261322 shares traded. The stock had previously closed at $51.08.

Analyst Ratings Changes

GLPI has been the subject of a number of recent analyst reports. Mizuho decreased their price target on shares of Gaming and Leisure Properties from $47.00 to $46.00 and set a "neutral" rating for the company in a report on Friday, May 10th. JMP Securities raised their target price on Gaming and Leisure Properties from $53.00 to $55.00 and gave the company a "market outperform" rating in a report on Monday, August 12th. Wells Fargo & Company raised their price objective on shares of Gaming and Leisure Properties from $48.00 to $51.00 and gave the stock an "equal weight" rating in a research note on Monday. StockNews.com upgraded shares of Gaming and Leisure Properties from a "hold" rating to a "buy" rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada raised their price target on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an "outperform" rating in a research report on Monday, July 29th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $52.11.

Gaming and Leisure Properties Stock Performance

The company has a debt-to-equity ratio of 1.49, a quick ratio of 5.91 and a current ratio of 5.91. The firm has a 50 day moving average price of $48.01 and a two-hundred day moving average price of $45.81. The company has a market capitalization of $13.92 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 5.14 and a beta of 0.98.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). The company 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 business's revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company earned $0.92 earnings per share. On average, research analysts expect that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of the company's stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $48.89, for a total transaction of $274,028.45. Following the sale, the director now directly owns 156,685 shares of the company's stock, valued at $7,660,329.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of the business's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the transaction, 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 SEC, which is available through the SEC website. Also, COO Brandon John Moore sold 30,900 shares of the stock in a transaction on 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 sale, the chief operating officer now owns 208,977 shares in the company, valued at approximately $10,459,298.85. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gaming and Leisure Properties

A number of large investors have recently modified their holdings of GLPI. Headlands Technologies LLC bought a new position in Gaming and Leisure Properties in the 4th quarter worth approximately $30,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Gaming and Leisure Properties during the second quarter worth $31,000. EdgeRock Capital LLC bought a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth $33,000. MCF Advisors LLC lifted its stake in shares of Gaming and Leisure Properties by 416.7% during the first quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 600 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Gaming and Leisure Properties by 18,500.0% in the second quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 740 shares during the last quarter. 91.14% of the stock is currently owned by institutional investors and hedge funds.

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.