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

Gaming and Leisure Properties (NASDAQ:GLPI)‘s stock had its “market outperform” rating reiterated by JMP Securities in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $55.00 price target on the real estate investment trust’s stock. JMP Securities’ price target indicates a potential upside of 18.38% from the stock’s current price.

Several other equities research analysts have also recently commented on GLPI. Wells Fargo & Company restated an “equal weight” rating and set a $52.00 price target (up previously from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Raymond James upped their price objective on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Wolfe Research upgraded shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 target price for the company in a research note on Friday, August 23rd. Barclays began coverage on shares of Gaming and Leisure Properties in a research note on Tuesday. They set an “equal weight” rating and a $54.53 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and increased their price target for the stock from $49.00 to $54.00 in a report on Wednesday, November 20th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Gaming and Leisure Properties Stock Down 1.4 %

NASDAQ:GLPI opened at $46.46 on Wednesday. Gaming and Leisure Properties has a 52 week low of $41.80 and a 52 week high of $52.60. The stock has a market capitalization of $12.75 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 2.10 and a beta of 0.98. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. The stock’s fifty day moving average is $50.26 and its two-hundred day moving average is $49.11.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $385.34 million during the quarter, compared to analysts’ expectations of $385.09 million. During the same quarter in the prior year, the firm posted $0.92 EPS. Gaming and Leisure Properties’s quarterly revenue was up 7.2% compared to the same quarter last year. Research analysts anticipate that Gaming and Leisure Properties will post 3.67 EPS for the current year.

Insider Transactions at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 6,885 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.16, for a total transaction of $345,351.60. Following the completion of the sale, the director now owns 149,800 shares in the company, valued at approximately $7,513,968. The trade was a 4.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.37% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Segall Bryant & Hamill LLC purchased a new position in shares of Gaming and Leisure Properties in the 3rd quarter valued at $693,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Gaming and Leisure Properties by 63.1% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 51,991 shares of the real estate investment trust’s stock valued at $2,351,000 after purchasing an additional 20,111 shares in the last quarter. Sei Investments Co. raised its position in Gaming and Leisure Properties by 11.4% in the second quarter. Sei Investments Co. now owns 539,593 shares of the real estate investment trust’s stock valued at $24,395,000 after purchasing an additional 55,385 shares during the period. Cerity Partners LLC lifted its stake in shares of Gaming and Leisure Properties by 87.5% during the third quarter. Cerity Partners LLC now owns 14,410 shares of the real estate investment trust’s stock worth $741,000 after purchasing an additional 6,724 shares in the last quarter. Finally, Zacks Investment Management boosted its position in shares of Gaming and Leisure Properties by 10.9% in the third quarter. Zacks Investment Management now owns 522,197 shares of the real estate investment trust’s stock worth $26,867,000 after buying an additional 51,398 shares during the period. 91.14% of the stock is owned by institutional investors and hedge funds.

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.