Gaming and Leisure Properties (NASDAQ:GLPI) Given Market Outperform Rating at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Gaming and Leisure Properties (NASDAQ:GLPI) in a report published on Thursday morning, Benzinga reports. The firm currently has a $57.00 price objective on the real estate investment trust’s stock.

Several other equities analysts also recently commented on the company. UBS Group boosted their price objective on Gaming and Leisure Properties from $55.00 to $56.00 and gave the company a buy rating in a research report on Tuesday. Royal Bank of Canada reiterated an outperform rating and set a $54.00 price objective on shares of Gaming and Leisure Properties in a research report on Tuesday, August 1st. BNP Paribas began coverage on shares of Gaming and Leisure Properties in a research report on Wednesday, June 14th. They set an outperform rating and a $63.00 price objective on the stock. Deutsche Bank Aktiengesellschaft cut shares of Gaming and Leisure Properties from a buy rating to a hold rating and reduced their price objective for the company from $60.00 to $52.00 in a research report on Wednesday, July 5th. Finally, Mizuho reduced their price objective on shares of Gaming and Leisure Properties from $53.00 to $50.00 in a research report on Thursday, August 10th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $55.80.

Gaming and Leisure Properties Stock Performance

GLPI opened at $47.40 on Thursday. The company has a 50 day simple moving average of $47.76 and a two-hundred day simple moving average of $49.71. Gaming and Leisure Properties has a 1-year low of $43.46 and a 1-year high of $55.13. The firm has a market cap of $12.45 billion, a P/E ratio of 16.40, a PEG ratio of 4.09 and a beta of 0.98. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.11 and a quick ratio of 0.11.

Insider Activity

In related news, Director Barry F. Schwartz bought 1,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were purchased at an average price of $47.35 per share, with a total value of $47,350.00. Following the transaction, the director now owns 52,823 shares in the company, valued at approximately $2,501,169.05. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Gaming and Leisure Properties news, Director Barry F. Schwartz bought 1,500 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was acquired at an average price of $45.83 per share, for a total transaction of $68,745.00. Following the completion of the transaction, the director now directly owns 55,323 shares of the company’s stock, valued at $2,535,453.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Barry F. Schwartz purchased 1,000 shares of Gaming and Leisure Properties stock in a transaction dated Thursday, August 3rd. The stock was acquired at an average price of $47.35 per share, for a total transaction of $47,350.00. Following the completion of the acquisition, the director now owns 52,823 shares of the company’s stock, valued at approximately $2,501,169.05. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 3,500 shares of company stock worth $163,835. 4.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gaming and Leisure Properties

A number of large investors have recently bought and sold shares of the business. CWM LLC boosted its holdings in Gaming and Leisure Properties by 18.6% during the 2nd quarter. CWM LLC now owns 1,409 shares of the real estate investment trust’s stock valued at $68,000 after acquiring an additional 221 shares during the period. Pitcairn Co. boosted its position in Gaming and Leisure Properties by 2.1% in the 1st quarter. Pitcairn Co. now owns 11,854 shares of the real estate investment trust’s stock valued at $617,000 after buying an additional 245 shares during the period. IFM Investors Pty Ltd boosted its position in Gaming and Leisure Properties by 0.5% in the 2nd quarter. IFM Investors Pty Ltd now owns 54,024 shares of the real estate investment trust’s stock valued at $2,618,000 after buying an additional 255 shares during the period. Cetera Advisor Networks LLC boosted its position in Gaming and Leisure Properties by 2.3% in the 2nd quarter. Cetera Advisor Networks LLC now owns 11,414 shares of the real estate investment trust’s stock valued at $553,000 after buying an additional 258 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in Gaming and Leisure Properties by 0.4% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 74,337 shares of the real estate investment trust’s stock valued at $3,870,000 after buying an additional 260 shares during the period. Hedge funds and other institutional investors own 89.08% of the company’s stock.

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.