Gaming and Leisure Properties (NASDAQ:GLPI) Rating Increased to Outperform at Wolfe Research

Wolfe Research upgraded shares of Gaming and Leisure Properties (NASDAQ:GLPI - Free Report) from a peer perform rating to an outperform rating in a research report released on Friday, Marketbeat.com reports. The brokerage currently has $57.00 price target on the real estate investment trust's stock.

Other research analysts have also issued reports about the company. Raymond James increased their price objective on Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an outperform rating in a report on Wednesday. Wells Fargo & Company lowered their price target on Gaming and Leisure Properties from $49.00 to $48.00 and set an equal weight rating on the stock in a research report on Thursday, May 30th. Stifel Nicolaus increased their price target on 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. Wedbush reiterated an outperform rating and set a $51.00 price target on shares of Gaming and Leisure Properties in a research report on Friday, May 17th. Finally, UBS Group raised their target price on 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. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Gaming and Leisure Properties has a consensus rating of Moderate Buy and an average price target of $51.89.

Gaming and Leisure Properties Stock Up 2.0 %

Shares of NASDAQ GLPI traded up $1.00 during mid-day trading on Friday, reaching $50.74. 2,250,729 shares of the company were exchanged, compared to its average volume of 1,342,636. 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 stock has a market cap of $13.78 billion, a price-to-earnings ratio of 18.72, a P/E/G ratio of 5.14 and a beta of 0.98. Gaming and Leisure Properties has a 1 year low of $41.80 and a 1 year high of $50.88. The firm has a 50-day moving average of $47.29 and a 200 day moving average of $45.61.

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 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The business had revenue of $380.60 million during the quarter, compared to analysts' expectations of $377.95 million. During the same quarter last year, the business posted $0.92 earnings per share. The company's quarterly revenue was up 6.7% compared to the same quarter last year. On average, research analysts expect that Gaming and Leisure Properties will post 3.67 earnings per share for the current year.

Insider Activity

In related 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 transaction of $274,028.45. Following the completion of the transaction, the director now directly owns 156,685 shares of the company's stock, valued at approximately $7,660,329.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Foundations Investment Advisors LLC lifted its holdings in shares of Gaming and Leisure Properties by 4.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 7,583 shares of the real estate investment trust's stock valued at $352,000 after purchasing an additional 354 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Gaming and Leisure Properties by 27.4% in the first quarter. Russell Investments Group Ltd. now owns 309,882 shares of the real estate investment trust's stock worth $14,276,000 after acquiring an additional 66,601 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Gaming and Leisure Properties by 19.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 153,195 shares of the real estate investment trust's stock valued at $7,560,000 after buying an additional 24,489 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Gaming and Leisure Properties during the first quarter valued at approximately $2,396,000. Finally, Wellington Management Group LLP raised its holdings in shares of Gaming and Leisure Properties by 40.8% during the fourth 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 buying an additional 3,684,553 shares during the last quarter. 91.14% of the stock is owned by institutional investors and hedge funds.

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.