Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Stock Has Consensus Target Price of $47.36 According to Analysts

Key Points

• Analysts have a Moderate Buy consensus on GLPI: nine of 16 rate it Buy and seven Hold, with an average 12-month price target of $47.36 versus a share price of $38.89.
• Several firms lowered price targets, including Barclays to $44 and Cantor Fitzgerald to $42, while Truist cut its target to $55; Citigroup initiated coverage with a Buy rating and a $49 target.
• GLPI’s latest quarterly earnings missed estimates: EPS was $0.71 versus $0.80 expected, while revenue was $435.45 million. The company’s $0.82 quarterly dividend equates to an 8.4% yield at the cited share price.

Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Get Free Report) have earned an average recommendation of "Moderate Buy" from the sixteen brokerages that are presently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $47.36.

Several equities analysts have issued reports on the company. Barclays dropped their price objective on Gaming and Leisure Properties from $50.00 to $44.00 and set an "overweight" rating on the stock in a report on Tuesday, October 20th. Truist Financial reduced their target price on Gaming and Leisure Properties from $60.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, October 20th. Raymond James Financial reissued an "outperform" rating and issued a $47.00 target price on shares of Gaming and Leisure Properties in a research report on Thursday, August 13th. Cantor Fitzgerald dropped their price target on Gaming and Leisure Properties from $48.00 to $42.00 and set a "neutral" rating on the stock in a research note on Wednesday. Finally, Citigroup initiated coverage on Gaming and Leisure Properties in a research note on Wednesday. They set a "buy" rating and a $49.00 price target on the stock.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director Earl C. Shanks bought 10,000 shares of the stock in a transaction dated Tuesday, August 18th. The shares were acquired at an average cost of $42.24 per share, for a total transaction of $422,400.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.11% of the company's stock.

Institutional Trading of Gaming and Leisure Properties

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Gaming and Leisure Properties during the 2nd quarter worth $1,596,811,000. State Street Corp increased 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 period. Jennison Associates LLC raised its holdings in shares of Gaming and Leisure Properties by 21.7% in the first quarter. Jennison Associates LLC now owns 4,378,409 shares of the real estate investment trust's stock valued at $194,270,000 after buying an additional 781,198 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Gaming and Leisure Properties by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 4,160,855 shares of the real estate investment trust's stock valued at $184,614,000 after buying an additional 67,652 shares during the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of Gaming and Leisure Properties in the second quarter valued at about $151,300,000. Hedge funds and other institutional investors own 91.14% of the company's stock.

Gaming and Leisure Properties Trading Down 1.4%

Shares of Gaming and Leisure Properties stock opened at $38.89 on Friday. The company has a fifty day simple moving average of $39.54 and a 200-day simple moving average of $44.34. Gaming and Leisure Properties has a 12-month low of $37.33 and a 12-month high of $49.95. The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 1.52. The stock has a market cap of $11.31 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.99 and a beta of 0.64.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its earnings results on Thursday, October 29th. The real estate investment trust reported $0.71 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). Gaming and Leisure Properties had a net margin of 55.71% and a return on equity of 18.16%. The company had revenue of $435.45 million during the quarter, compared to analysts' expectations of $436.30 million. During the same period last year, the business earned $0.97 earnings per share. The company's quarterly revenue was up 9.5% on a year-over-year basis. On average, equities analysts forecast that Gaming and Leisure Properties will post 4.02 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 8.4%. The ex-dividend date of this dividend was Friday, September 11th. Gaming and Leisure Properties's dividend payout ratio is presently 100.31%.

Gaming and Leisure Properties Company Profile

Gaming and Leisure Properties, Inc NASDAQ: GLPI is a real estate investment trust focused on owning properties used by gaming and leisure businesses. The company leases its properties to casino operators, which generally manage the gaming and hospitality operations.

GLPI was established in 2013 as a spin-off from Penn National Gaming, now known as PENN Entertainment. Its portfolio includes casino and related entertainment properties in multiple U.S. states, and the company grows through property acquisitions, lease arrangements and development financing.

Peter M.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.