JMP Securities Reaffirms “Market Outperform” Rating for Gaming and Leisure Properties (NASDAQ:GLPI)

JMP Securities reaffirmed their market outperform rating on shares of Gaming and Leisure Properties (NASDAQ:GLPI) in a report released on Tuesday, Benzinga reports. They currently have a $55.00 price objective on the real estate investment trust’s stock.

Several other equities analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Stifel Nicolaus boosted their price objective on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a “buy” rating in a research note on Friday, July 26th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $52.00 target price (up from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Scotiabank boosted their price target on Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 16th. Finally, Wolfe Research upgraded Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research note on Friday, August 23rd. Seven investment analysts have rated the stock with a hold rating and eight have issued 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 $52.18.

Gaming and Leisure Properties Stock Down 1.2 %

Gaming and Leisure Properties stock opened at $50.19 on Tuesday. 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 1-year low of $41.80 and a 1-year high of $52.60. The company has a fifty day simple moving average of $51.15 and a 200 day simple moving average of $47.62. The company has a market cap of $13.77 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 2.19 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.25). Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The company had revenue of $385.34 million during the quarter, compared to the consensus estimate of $385.09 million. During the same quarter in the previous year, the business earned $0.92 EPS. Gaming and Leisure Properties’s revenue was up 7.2% on a year-over-year basis. Research analysts anticipate that Gaming and Leisure Properties will post 3.67 earnings per share for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 6.06%. The ex-dividend date was Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 106.29%.

Insiders Place Their Bets

In other news, Director E Scott Urdang sold 5,605 shares of Gaming and Leisure Properties stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $48.89, for a total value of $274,028.45. Following the completion of the sale, the director now directly owns 156,685 shares in the company, valued at approximately $7,660,329.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Desiree A. Burke sold 12,973 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $52.02, for a total transaction of $674,855.46. Following the completion of the sale, the chief financial officer now owns 108,073 shares of the company’s stock, valued at $5,621,957.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director E Scott Urdang sold 5,605 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $48.89, for a total transaction of $274,028.45. Following the completion of the transaction, the director now directly owns 156,685 shares in the company, valued at approximately $7,660,329.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,363 shares of company stock worth $2,840,781 in the last quarter. Corporate insiders own 4.37% of the company’s stock.

Institutional Trading of Gaming and Leisure Properties

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new position in Gaming and Leisure Properties in the second quarter valued at approximately $31,000. EdgeRock Capital LLC bought a new position in shares of Gaming and Leisure Properties in the 2nd quarter valued at $33,000. Versant Capital Management Inc increased its stake in shares of Gaming and Leisure Properties by 18,500.0% in the 2nd quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 740 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Gaming and Leisure Properties by 142.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 384 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Gaming and Leisure Properties by 578.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 590 shares during the last quarter. Institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Company Profile

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.