Brokerages Set Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Price Target at $54.63

Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Get Free Report) have earned a consensus rating of "Moderate Buy" from the fourteen research firms that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $54.63.

Several equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Barclays upped their price objective on Gaming and Leisure Properties from $53.00 to $54.00 and gave the company an "equal weight" rating in a report on Tuesday, April 22nd. Macquarie reiterated an "outperform" rating and set a $60.00 price objective on shares of Gaming and Leisure Properties in a research report on Friday, April 25th. Mizuho lifted their target price on Gaming and Leisure Properties from $51.00 to $53.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Finally, Wedbush set a $55.00 price target on shares of Gaming and Leisure Properties in a research note on Monday, April 28th.

Insider Buying and Selling

In other news, SVP Matthew Demchyk sold 6,419 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $50.45, for a total value of $323,838.55. Following the completion of the transaction, the senior vice president now owns 43,201 shares of the company's stock, valued at approximately $2,179,490.45. This represents a 12.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director E Scott Urdang sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $50.89, for a total transaction of $254,450.00. Following the completion of the sale, the director now owns 140,953 shares in the company, valued at approximately $7,173,098.17. The trade was a 3.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,704 shares of company stock worth $847,949. Corporate insiders own 4.26% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Dodge & Cox raised its position in Gaming and Leisure Properties by 75.3% in the fourth quarter. Dodge & Cox now owns 13,498,634 shares of the real estate investment trust's stock valued at $650,094,000 after purchasing an additional 5,797,299 shares during the last quarter. Norges Bank acquired a new position in shares of Gaming and Leisure Properties in the fourth quarter valued at approximately $176,123,000. Nuveen LLC acquired a new position in shares of Gaming and Leisure Properties in the first quarter valued at approximately $151,723,000. Invesco Ltd. raised its holdings in Gaming and Leisure Properties by 127.7% in the 1st quarter. Invesco Ltd. now owns 4,512,234 shares of the real estate investment trust's stock valued at $229,673,000 after buying an additional 2,530,463 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Gaming and Leisure Properties by 731.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,212,612 shares of the real estate investment trust's stock worth $112,622,000 after buying an additional 1,946,575 shares during the period. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Gaming and Leisure Properties Stock Performance

GLPI traded up $0.22 during trading hours on Friday, reaching $46.42. The company's stock had a trading volume of 3,803,580 shares, compared to its average volume of 1,318,912. The company's 50-day moving average is $47.77 and its 200-day moving average is $48.69. Gaming and Leisure Properties has a 52 week low of $42.86 and a 52 week high of $52.60. The firm has a market cap of $12.76 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 2.01 and a beta of 0.81. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. The company had revenue of $395.24 million for the quarter, compared to analyst estimates of $396.27 million. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. The company's revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 earnings per share. On average, equities analysts forecast that Gaming and Leisure Properties will post 3.81 EPS for the current year.

Gaming and Leisure Properties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date of this dividend is Friday, June 13th. This is an increase from Gaming and Leisure Properties's previous quarterly dividend of $0.76. Gaming and Leisure Properties's dividend payout ratio is 111.03%.

Gaming and Leisure Properties Company Profile

Gaming & Leisure Properties, Inc engages in the provision of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.