Gaming and Leisure Properties (NASDAQ:GLPI) Given New $53.00 Price Target at Raymond James

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) had its price objective lifted by investment analysts at Raymond James from $50.00 to $53.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an "outperform" rating on the real estate investment trust's stock. Raymond James' price target would suggest a potential upside of 5.98% from the company's current price.

Several other research analysts have also issued reports on the stock. Mizuho cut their target price on shares of Gaming and Leisure Properties from $47.00 to $46.00 and set a "neutral" rating for the company in a research report on Friday, May 10th. JMP Securities upped their target price on shares of Gaming and Leisure Properties from $53.00 to $55.00 and gave the stock a "market outperform" rating in a research report on Monday, August 12th. UBS Group upped their target price on shares of Gaming and Leisure Properties from $56.00 to $61.00 and gave the stock a "buy" rating in a research report on Tuesday, July 16th. Stifel Nicolaus upped their target price on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a "buy" rating in a research report on Friday, July 26th. Finally, StockNews.com upgraded shares of Gaming and Leisure Properties from a "hold" rating to a "buy" rating in a research report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Gaming and Leisure Properties presently has a consensus rating of "Moderate Buy" and an average target price of $51.50.

Gaming and Leisure Properties Stock Performance

GLPI stock traded up $0.35 during midday trading on Wednesday, reaching $50.01. 874,281 shares of the company's stock traded hands, compared to its average volume of 1,342,182. The company has a 50-day moving average price of $47.05 and a two-hundred day moving average price of $45.55. The company has a debt-to-equity ratio of 1.49, a quick ratio of 5.91 and a current ratio of 5.91. Gaming and Leisure Properties has a 52 week low of $41.80 and a 52 week high of $50.74. The firm has a market capitalization of $13.58 billion, a PE ratio of 18.43, 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 released its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 17.60% and a net margin of 52.79%. The company's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 EPS. As a group, equities analysts anticipate that Gaming and Leisure Properties will post 3.67 EPS for the current year.

Insider Activity

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of Gaming and Leisure Properties stock in a transaction on Monday, August 12th. The shares were sold at an average price of $48.89, for a total value of $274,028.45. Following the sale, the director now directly owns 156,685 shares in the company, valued at approximately $7,660,329.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On Gaming and Leisure Properties

A number of large investors have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in Gaming and Leisure Properties in the 4th quarter valued at about $30,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Gaming and Leisure Properties in the 2nd quarter valued at about $31,000. EdgeRock Capital LLC bought a new stake in shares of Gaming and Leisure Properties in the 4th quarter valued at about $33,000. MCF Advisors LLC raised its holdings in shares of Gaming and Leisure Properties by 416.7% in the 1st quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 600 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Gaming and Leisure Properties by 18,500.0% in the 2nd quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 740 shares in the last quarter. 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.