Gaming and Leisure Properties (GLPI) PT Raised to $32.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its price objective raised by Bank of America from $31.00 to $32.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has an “underperform” rating on the real estate investment trust’s stock. Bank of America’s target price would indicate a potential downside of 7.62% from the company’s previous close.

Other analysts also recently issued research reports about the company. Morgan Stanley lowered their target price on Gaming and Leisure Properties from $40.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Friday, February 9th. Jefferies Group assumed coverage on Gaming and Leisure Properties in a research note on Thursday, January 18th. They issued a “hold” rating on the stock. Barclays restated a “buy” rating on shares of Gaming and Leisure Properties in a research note on Sunday, December 24th. BidaskClub downgraded Gaming and Leisure Properties from a “sell” rating to a “strong sell” rating in a research note on Wednesday, February 28th. Finally, SunTrust Banks upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $38.38.

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Gaming and Leisure Properties stock remained flat at $$34.64 during trading hours on Tuesday. The company’s stock had a trading volume of 545,751 shares, compared to its average volume of 1,322,338. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.81. The stock has a market cap of $7,098.20, a P/E ratio of 11.00 and a beta of 0.80. Gaming and Leisure Properties has a twelve month low of $32.51 and a twelve month high of $39.32.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.33). The firm had revenue of $240.70 million for the quarter, compared to analysts’ expectations of $243.27 million. Gaming and Leisure Properties had a net margin of 39.18% and a return on equity of 17.31%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 EPS. analysts expect that Gaming and Leisure Properties will post 3.05 EPS for the current fiscal year.

In other news, CEO Peter M. Carlino bought 40,000 shares of Gaming and Leisure Properties stock in a transaction on Monday, February 12th. The stock was acquired at an average price of $33.33 per share, with a total value of $1,333,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,388,089 shares of the company’s stock, valued at $146,255,006.37. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO William J. Clifford bought 54,606 shares of Gaming and Leisure Properties stock in a transaction on Monday, February 12th. The shares were purchased at an average cost of $33.00 per share, with a total value of $1,801,998.00. Following the acquisition, the chief financial officer now directly owns 320,674 shares of the company’s stock, valued at $10,582,242. The disclosure for this purchase can be found here. Corporate insiders own 5.88% of the company’s stock.

Several institutional investors have recently made changes to their positions in GLPI. Great West Life Assurance Co. Can raised its holdings in shares of Gaming and Leisure Properties by 7.5% during the third quarter. Great West Life Assurance Co. Can now owns 21,394 shares of the real estate investment trust’s stock valued at $778,000 after acquiring an additional 1,499 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Gaming and Leisure Properties by 2.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,778,443 shares of the real estate investment trust’s stock valued at $102,494,000 after purchasing an additional 76,096 shares during the last quarter. Stifel Financial Corp acquired a new stake in shares of Gaming and Leisure Properties in the third quarter valued at approximately $249,000. Janus Henderson Group PLC increased its holdings in shares of Gaming and Leisure Properties by 728.6% in the third quarter. Janus Henderson Group PLC now owns 315,700 shares of the real estate investment trust’s stock valued at $11,646,000 after purchasing an additional 277,600 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of Gaming and Leisure Properties by 9.1% in the third quarter. California Public Employees Retirement System now owns 509,918 shares of the real estate investment trust’s stock valued at $18,811,000 after purchasing an additional 42,383 shares during the last quarter. 92.77% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Gaming and Leisure Properties (NASDAQ:GLPI)

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