Wells Fargo & Company Cuts Gaming and Leisure Properties (NASDAQ:GLPI) Price Target to $45.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target lowered by Wells Fargo & Company from $48.00 to $45.00 in a research note published on Wednesday, Marketbeat.com reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

A number of other brokerages have also commented on GLPI. JPMorgan Chase & Co. cut their price objective on shares of Gaming and Leisure Properties from $53.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, June 30th. Weiss Ratings downgraded Gaming and Leisure Properties from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Barclays lifted their target price on Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Stifel Nicolaus set a $50.00 price target on Gaming and Leisure Properties in a research note on Friday, April 24th. Finally, UBS Group set a $49.00 price target on Gaming and Leisure Properties in a research note on Thursday, June 18th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and a consensus target price of $51.55.

Gaming and Leisure Properties Trading Down 0.2%

GLPI opened at $45.08 on Wednesday. The firm’s 50 day moving average is $45.92 and its 200-day moving average is $46.24. Gaming and Leisure Properties has a 52-week low of $41.17 and a 52-week high of $49.95. The company has a quick ratio of 6.29, a current ratio of 6.29 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $12.78 billion, a P/E ratio of 14.31, a P/E/G ratio of 1.95 and a beta of 0.66.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its earnings results on Thursday, April 23rd. The real estate investment trust reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.06. The business had revenue of $419.99 million during the quarter, compared to the consensus estimate of $417.15 million. Gaming and Leisure Properties had a net margin of 55.56% and a return on equity of 18.06%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 earnings per share. Gaming and Leisure Properties has set its FY 2026 guidance at 4.080-4.120 EPS. Analysts expect that Gaming and Leisure Properties will post 4.01 EPS for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.82 dividend. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.78. This represents a $3.28 annualized dividend and a yield of 7.3%. The ex-dividend date of this dividend was Friday, June 12th. Gaming and Leisure Properties’s dividend payout ratio is currently 104.13%.

Insider Transactions at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 3,000 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $48.32, for a total transaction of $144,960.00. Following the transaction, the director directly owned 127,429 shares in the company, valued at $6,157,369.28. This represents a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Gaming and Leisure Properties

Several hedge funds and other institutional investors have recently modified their holdings of the stock. LDR Capital Management LLC bought a new position in Gaming and Leisure Properties in the 4th quarter valued at about $2,392,000. Sound Income Strategies LLC raised its position in shares of Gaming and Leisure Properties by 11.7% during the 4th quarter. Sound Income Strategies LLC now owns 415,085 shares of the real estate investment trust’s stock worth $19,235,000 after buying an additional 43,501 shares in the last quarter. Bayhunt Capital LLC bought a new stake in shares of Gaming and Leisure Properties during the 4th quarter worth about $14,811,000. GSA Capital Partners LLP lifted its stake in shares of Gaming and Leisure Properties by 233.4% in the 4th quarter. GSA Capital Partners LLP now owns 35,715 shares of the real estate investment trust’s stock worth $1,596,000 after acquiring an additional 25,002 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Gaming and Leisure Properties by 36.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 193,123 shares of the real estate investment trust’s stock worth $8,616,000 after acquiring an additional 51,663 shares during the period. Institutional investors own 91.14% of the company’s stock.

About Gaming and Leisure Properties

Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.

The company’s core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.