Gaming and Leisure Properties (NASDAQ:GLPI) Downgraded by JPMorgan Chase & Co. to "Neutral"

Key Points

• JPMorgan downgraded Gaming and Leisure Properties to “Neutral” from “Overweight” and set a $46 price target, implying about 17.2% upside from the reported price.
• Analyst sentiment is mixed but leans toward caution: GLPI has a consensus “Hold” rating from 12 analysts and an average price target of $47.73.
• GLPI reported quarterly EPS of $0.80, in line with estimates, while revenue reached $430.52 million, up 9% year over year; director Earl C. Shanks also purchased 10,000 shares.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) was downgraded by equities researchers at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a research note issued on Thursday, Briefing.com reports. They currently have a $46.00 price objective on the real estate investment trust's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 17.20% from the company's current price.

GLPI has been the topic of a number of other reports. Cantor Fitzgerald decreased their target price on Gaming and Leisure Properties from $52.00 to $48.00 and set a "neutral" rating on the stock in a research report on Monday, August 10th. Raymond James Financial reaffirmed an "outperform" rating and issued a $47.00 price objective on shares of Gaming and Leisure Properties in a research report on Thursday, August 13th. Royal Bank Of Canada dropped their price target on shares of Gaming and Leisure Properties from $54.00 to $52.00 and set an "outperform" rating for the company in a research note on Monday, August 3rd. Scotiabank reduced their price objective on Gaming and Leisure Properties from $49.00 to $43.00 and set a "sector perform" rating on the stock in a research note on Thursday. Finally, Weiss Ratings downgraded shares of Gaming and Leisure Properties from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, August 12th. Five investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $47.73.

Gaming and Leisure Properties Trading Down 1.7%

NASDAQ GLPI opened at $39.25 on Thursday. The firm's 50-day moving average is $42.86 and its two-hundred day moving average is $45.11. Gaming and Leisure Properties has a 12 month low of $39.21 and a 12 month high of $49.95. The stock has a market capitalization of $11.42 billion, a P/E ratio of 11.51, a PEG ratio of 1.67 and a beta of 0.65. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.74 and a quick ratio of 4.74.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.80 earnings per share for the quarter, meeting analysts' consensus estimates of $0.80. The business had revenue of $430.52 million for the quarter, compared to analyst estimates of $428.51 million. Gaming and Leisure Properties had a net margin of 59.01% and a return on equity of 19.17%. The company's revenue was up 9.0% on a year-over-year basis. During the same period last year, the business earned $0.96 EPS. Gaming and Leisure Properties has set its FY 2026 guidance at 4.100-4.120 EPS. On average, sell-side analysts anticipate that Gaming and Leisure Properties will post 4.03 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Earl C. Shanks bought 10,000 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was bought at an average cost of $42.24 per share, with a total value of $422,400.00. Following the completion of the purchase, the director owned 107,259 shares in the company, valued at approximately $4,530,620.16. The trade was a 10.28% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 4.11% of the company's stock.

Hedge Funds Weigh In On Gaming and Leisure Properties

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLPI. QRG Capital Management Inc. raised its position in shares of Gaming and Leisure Properties by 5.6% in the second quarter. QRG Capital Management Inc. now owns 109,442 shares of the real estate investment trust's stock valued at $4,873,000 after purchasing an additional 5,788 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Gaming and Leisure Properties by 11.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,372 shares of the real estate investment trust's stock worth $506,000 after purchasing an additional 1,151 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Gaming and Leisure Properties by 10.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 449,743 shares of the real estate investment trust's stock valued at $20,026,000 after acquiring an additional 41,340 shares in the last quarter. Andra AP fonden boosted its position in Gaming and Leisure Properties by 69.8% in the second quarter. Andra AP fonden now owns 160,800 shares of the real estate investment trust's stock worth $7,160,000 after purchasing an additional 66,100 shares during the last quarter. Finally, State Street Corp lifted its stake in Gaming and Leisure Properties by 2.3% in the second quarter. State Street Corp now owns 13,477,304 shares of the real estate investment trust's stock valued at $600,144,000 after purchasing an additional 305,154 shares during the last quarter. 91.14% of the stock is owned by institutional investors and hedge funds.

Gaming and Leisure Properties Company Profile

Gaming and Leisure Properties, Inc NASDAQ: GLPI is a real estate investment trust that owns, acquires and leases gaming-related properties. Its portfolio primarily consists of casinos and other properties used for gaming, entertainment and hospitality activities.

GLPI generally leases its properties to gaming operators under long-term, triple-net lease agreements. Under these arrangements, tenants typically operate the properties and are responsible for expenses such as maintenance, insurance and property taxes, while GLPI focuses on owning and managing the underlying real estate.

The company was established in 2013 through the spin-off of gaming properties from Penn National Gaming, now known as PENN Entertainment.

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