Gaming and Leisure Properties (NASDAQ:GLPI) Price Target Raised to $51.00 at Wells Fargo & Company

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) had its price target hoisted by investment analysts at Wells Fargo & Company from $48.00 to $51.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's price objective would suggest a potential downside of 0.06% from the company's previous close.

Other research analysts have also recently issued research reports about the company. Morgan Stanley reiterated an "overweight" rating and issued a $53.00 target price on shares of Gaming and Leisure Properties in a report on Friday, June 21st. Royal Bank of Canada lifted their price objective on Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an "outperform" rating in a research note on Monday, July 29th. Mizuho decreased their target price on 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. UBS Group upped their price objective on shares of Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a "buy" rating in a research report on Tuesday, July 16th. Finally, StockNews.com raised Gaming and Leisure Properties from a "hold" rating to a "buy" rating in a research report on Friday, July 19th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $52.11.

Gaming and Leisure Properties Trading Up 0.6 %

Shares of NASDAQ GLPI traded up $0.29 on Monday, reaching $51.03. 1,033,314 shares of the company traded hands, compared to its average volume of 1,340,766. The stock has a market capitalization of $13.85 billion, a PE ratio of 18.81, a P/E/G ratio of 5.14 and a beta of 0.98. Gaming and Leisure Properties has a fifty-two week low of $41.80 and a fifty-two week high of $51.35. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49. The company has a 50 day moving average of $47.44 and a 200 day moving average of $45.66.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.15). The company had revenue of $380.60 million for the quarter, compared to analyst estimates of $377.95 million. Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The business's revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the company posted $0.92 EPS. On average, equities research analysts forecast that Gaming and Leisure Properties will post 3.67 earnings per share for the current fiscal year.

Insider Activity at Gaming and Leisure Properties

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 value of $274,028.45. Following the completion of the transaction, the director now owns 156,685 shares in the company, valued at approximately $7,660,329.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Brandon John Moore sold 30,900 shares of Gaming and Leisure Properties stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the sale, the chief operating officer now owns 208,977 shares in the company, valued at $10,459,298.85. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gaming and Leisure Properties

A number of institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in Gaming and Leisure Properties by 40.8% in the 4th quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust's stock valued at $627,204,000 after acquiring an additional 3,684,553 shares during the last quarter. Putnam Investments LLC raised its holdings in shares of Gaming and Leisure Properties by 3.1% in the 4th quarter. Putnam Investments LLC now owns 9,511,521 shares of the real estate investment trust's stock worth $469,394,000 after purchasing an additional 282,828 shares in the last quarter. Principal Financial Group Inc. lifted its stake in 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 purchasing an additional 150,055 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Gaming and Leisure Properties by 4.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,489,160 shares of the real estate investment trust's stock valued at $252,886,000 after purchasing an additional 211,709 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Gaming and Leisure Properties by 9.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,104,552 shares of the real estate investment trust's stock worth $185,564,000 after buying an additional 350,250 shares in 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.