Royal Bank of Canada Issues Pessimistic Forecast for Gaming and Leisure Properties (NASDAQ:GLPI) Stock Price

Gaming and Leisure Properties (NASDAQ:GLPI) had its price objective decreased by equities researchers at Royal Bank of Canada from $56.00 to $54.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 11.92% from the stock’s current price.

GLPI has been the subject of several other reports. Macquarie restated an “outperform” rating and issued a $60.00 price objective on shares of Gaming and Leisure Properties in a report on Friday, April 25th. Scotiabank dropped their price objective on Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 16th. Mizuho raised their price target on Gaming and Leisure Properties from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. Wells Fargo & Company boosted their price objective on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Finally, Morgan Stanley downgraded Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 target price on the stock. in a research report on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.70.

Gaming and Leisure Properties Trading Up 1.0 %

NASDAQ:GLPI opened at $48.25 on Monday. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. Gaming and Leisure Properties has a 12 month low of $42.62 and a 12 month high of $52.60. The firm has a fifty day simple moving average of $49.38 and a two-hundred day simple moving average of $49.28. The stock has a market capitalization of $13.26 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 2.01 and a beta of 0.72.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. The business had revenue of $395.24 million for the quarter, compared to the consensus estimate of $396.27 million. During the same quarter in the prior year, the business earned $0.92 earnings per share. Gaming and Leisure Properties’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts expect that Gaming and Leisure Properties will post 3.81 EPS for the current fiscal year.

Insider Activity at Gaming and Leisure Properties

In related news, SVP Matthew Demchyk sold 1,138 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $50.45, for a total transaction of $57,412.10. Following the transaction, the senior vice president now directly owns 53,002 shares of the company’s stock, valued at approximately $2,673,950.90. The trade was a 2.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director E Scott Urdang sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $50.89, for a total transaction of $254,450.00. Following the sale, the director now directly owns 140,953 shares of the company’s stock, valued at $7,173,098.17. The trade was a 3.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,842 shares of company stock valued at $1,153,961. Insiders own 4.37% of the company’s stock.

Institutional Investors Weigh In On Gaming and Leisure Properties

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dodge & Cox grew its stake in Gaming and Leisure Properties by 75.3% during the 4th quarter. Dodge & Cox now owns 13,498,634 shares of the real estate investment trust’s stock valued at $650,094,000 after acquiring an additional 5,797,299 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Gaming and Leisure Properties by 4.7% during the 4th quarter. Franklin Resources Inc. now owns 12,830,944 shares of the real estate investment trust’s stock worth $617,938,000 after purchasing an additional 571,720 shares during the period. Geode Capital Management LLC lifted its position in shares of Gaming and Leisure Properties by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 6,245,884 shares of the real estate investment trust’s stock worth $300,395,000 after acquiring an additional 165,024 shares during the period. Jennison Associates LLC lifted its holdings in shares of Gaming and Leisure Properties by 5.2% during the 4th quarter. Jennison Associates LLC now owns 4,287,118 shares of the real estate investment trust’s stock worth $206,468,000 after acquiring an additional 211,657 shares during the period. Finally, Norges Bank bought a new stake in shares of Gaming and Leisure Properties in the 4th quarter valued at approximately $176,123,000. 91.14% of the stock is currently owned by institutional investors.

Gaming and Leisure Properties Company Profile

Gaming & Leisure Properties, Inc engages in the provision of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.