Gaming and Leisure Properties (NASDAQ:GLPI) Price Target Cut to $59.00 by Analysts at Macquarie

Gaming and Leisure Properties (NASDAQ:GLPI) had its price objective decreased by Macquarie from $60.00 to $59.00 in a report issued on Monday morning,Benzinga reports. Macquarie currently has an outperform rating on the real estate investment trust’s stock.

Several other equities research analysts have also recently issued reports on the company. Mizuho reduced their target price on Gaming and Leisure Properties from $53.00 to $48.00 and set a “neutral” rating on the stock in a report on Monday, June 16th. Wells Fargo & Company reduced their target price on Gaming and Leisure Properties from $51.00 to $49.00 and set an “equal weight” rating on the stock in a report on Monday, June 2nd. Royal Bank Of Canada dropped their price target on Gaming and Leisure Properties from $54.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday. Scotiabank dropped their price target on Gaming and Leisure Properties from $49.00 to $48.00 and set a “sector perform” rating for the company in a research report on Monday, May 12th. Finally, Wedbush set a $55.00 price target on Gaming and Leisure Properties in a research report on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and an average price target of $53.16.

Gaming and Leisure Properties Price Performance

NASDAQ:GLPI opened at $45.72 on Monday. The company has a quick ratio of 7.39, a current ratio of 7.39 and a debt-to-equity ratio of 1.41. The business’s 50-day simple moving average is $46.92 and its two-hundred day simple moving average is $48.08. The stock has a market cap of $12.57 billion, a PE ratio of 17.72, a P/E/G ratio of 10.17 and a beta of 0.72. Gaming and Leisure Properties has a 52 week low of $44.48 and a 52 week high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.01). The business had revenue of $394.90 million for the quarter, compared to the consensus estimate of $397.27 million. Gaming and Leisure Properties had a net margin of 46.32% and a return on equity of 15.43%. Gaming and Leisure Properties’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 earnings per share. As a group, analysts forecast that Gaming and Leisure Properties will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 6.82%. The ex-dividend date was Friday, June 13th. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.76. Gaming and Leisure Properties’s payout ratio is 120.93%.

Insider Activity

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $46.58, for a total transaction of $186,320.00. Following the completion of the transaction, the director owned 136,953 shares in the company, valued at $6,379,270.74. The trade was a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Generali Asset Management SPA SGR boosted its position in shares of Gaming and Leisure Properties by 43.2% during the second quarter. Generali Asset Management SPA SGR now owns 24,790 shares of the real estate investment trust’s stock valued at $1,157,000 after buying an additional 7,484 shares during the period. TD Asset Management Inc boosted its position in shares of Gaming and Leisure Properties by 35.1% during the second quarter. TD Asset Management Inc now owns 103,667 shares of the real estate investment trust’s stock valued at $4,839,000 after buying an additional 26,940 shares during the period. Naviter Wealth LLC boosted its holdings in shares of Gaming and Leisure Properties by 10.8% in the second quarter. Naviter Wealth LLC now owns 18,129 shares of the real estate investment trust’s stock valued at $846,000 after purchasing an additional 1,763 shares during the period. Axxcess Wealth Management LLC boosted its holdings in shares of Gaming and Leisure Properties by 23.3% in the second quarter. Axxcess Wealth Management LLC now owns 9,321 shares of the real estate investment trust’s stock valued at $435,000 after purchasing an additional 1,762 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Gaming and Leisure Properties by 41.5% in the second quarter. Sequoia Financial Advisors LLC now owns 34,117 shares of the real estate investment trust’s stock valued at $1,593,000 after purchasing an additional 9,998 shares during the period. Hedge funds and other institutional investors own 91.14% of the company’s stock.

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.