Gaming and Leisure Properties (NASDAQ:GLPI) Earns Market Outperform Rating from JMP Securities

JMP Securities restated their market outperform rating on shares of Gaming and Leisure Properties (NASDAQ:GLPI - Free Report) in a report issued on Tuesday morning, Benzinga reports. They currently have a $55.00 price objective on the real estate investment trust's stock.

Several other analysts have also recently issued reports on GLPI. Wells Fargo & Company restated an "equal weight" rating and set a $52.00 target price (up from $51.00) on shares of Gaming and Leisure Properties in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a "hold" rating in a research report on Monday, July 29th. UBS Group increased their price objective 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. Wolfe Research raised shares of 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 report on Friday, August 23rd. Finally, StockNews.com lowered shares of Gaming and Leisure Properties from a "buy" rating to a "hold" rating in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Gaming and Leisure Properties has an average rating of "Moderate Buy" and a consensus price target of $52.18.

Gaming and Leisure Properties Price Performance

GLPI stock traded up $0.38 during mid-day trading on Tuesday, hitting $50.87. The company had a trading volume of 2,367,711 shares, compared to its average volume of 1,316,676. The company has a market capitalization of $13.81 billion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 5.82 and a beta of 0.99. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $52.60. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.49. The company has a 50-day moving average price of $51.13 and a 200 day moving average price of $47.60.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.25). The company had revenue of $385.34 million during the quarter, compared to analysts' expectations of $385.09 million. Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 EPS. On average, research analysts anticipate that Gaming and Leisure Properties will post 3.67 earnings per share for the current year.

Gaming and Leisure Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.76 per share. The ex-dividend date was Friday, September 13th. This represents a $3.04 dividend on an annualized basis and a yield of 5.98%. Gaming and Leisure Properties's payout ratio is 112.18%.

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 6,885 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were 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 owns 149,800 shares of the company's stock, valued at $7,513,968. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director E Scott Urdang sold 6,885 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were 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 owns 149,800 shares of the company's stock, valued at $7,513,968. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Desiree A. Burke sold 12,973 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $52.02, for a total transaction of $674,855.46. Following the sale, the chief financial officer now directly owns 108,073 shares of the company's stock, valued at $5,621,957.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,363 shares of company stock valued at $2,840,781 over the last 90 days. Insiders own 4.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GLPI. State of Michigan Retirement System raised its holdings in shares of Gaming and Leisure Properties by 2.3% in the first quarter. State of Michigan Retirement System now owns 65,600 shares of the real estate investment trust's stock worth $3,022,000 after buying an additional 1,500 shares during the last quarter. Norden Group LLC purchased a new position in shares of Gaming and Leisure Properties in the first quarter worth $278,000. First Trust Direct Indexing L.P. raised its holdings in shares of Gaming and Leisure Properties by 7.1% in the first quarter. First Trust Direct Indexing L.P. now owns 9,154 shares of the real estate investment trust's stock worth $422,000 after buying an additional 608 shares during the last quarter. RBA Wealth Management LLC raised its holdings in shares of Gaming and Leisure Properties by 5.0% in the first quarter. RBA Wealth Management LLC now owns 33,422 shares of the real estate investment trust's stock worth $1,540,000 after buying an additional 1,587 shares during the last quarter. Finally, Marshall Financial Group LLC raised its holdings in shares of Gaming and Leisure Properties by 11.7% during the first quarter. Marshall Financial Group LLC now owns 19,318 shares of the real estate investment trust's stock worth $890,000 after purchasing an additional 2,019 shares during the last quarter. 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.