Gaming and Leisure Properties (NASDAQ:GLPI) Given New $48.00 Price Target at Scotiabank

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) had its price objective cut by stock analysts at Scotiabank from $49.00 to $48.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "sector perform" rating on the real estate investment trust's stock. Scotiabank's price target indicates a potential upside of 0.82% from the company's previous close.

GLPI has been the subject of a number of other research reports. Mizuho upped their price objective on Gaming and Leisure Properties from $51.00 to $53.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Barclays boosted their price target on shares of Gaming and Leisure Properties from $53.00 to $54.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 22nd. Morgan Stanley downgraded shares of Gaming and Leisure Properties from an "overweight" rating to an "equal weight" rating and set a $53.00 price objective for the company. in a report on Wednesday, January 15th. Macquarie reiterated an "outperform" rating and issued a $60.00 target price on shares of Gaming and Leisure Properties in a research note on Friday, April 25th. Finally, Wells Fargo & Company increased their target price on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $54.63.

Gaming and Leisure Properties Stock Up 1.5%

Shares of GLPI traded up $0.72 during trading hours on Monday, reaching $47.61. 2,115,409 shares of the stock traded hands, compared to its average volume of 1,291,283. Gaming and Leisure Properties has a 52 week low of $42.86 and a 52 week high of $52.60. The company has a market cap of $13.08 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 2.01 and a beta of 0.81. The stock has a fifty day simple moving average of $48.55 and a 200 day simple moving average of $48.93. 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 (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. The firm had revenue of $395.24 million during the quarter, compared to analyst estimates of $396.27 million. During the same quarter last year, the business posted $0.92 EPS. The company's revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts forecast that Gaming and Leisure Properties will post 3.81 EPS for the current year.

Insider Activity

In related news, Director E Scott Urdang sold 5,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $49.72, for a total value of $248,600.00. Following the sale, the director now owns 145,953 shares in the company, valued at approximately $7,256,783.16. This trade represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Matthew Demchyk sold 1,138 shares of Gaming and Leisure Properties stock in a transaction on Friday, February 28th. The shares were sold at an average price of $50.45, for a total value of $57,412.10. Following the sale, the senior vice president now directly owns 53,002 shares of the company's stock, valued at $2,673,950.90. This represents a 2.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,842 shares of company stock worth $1,153,961 over the last ninety days. Company insiders own 4.26% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. GF Fund Management CO. LTD. grew its stake in Gaming and Leisure Properties by 4.2% in the 1st quarter. GF Fund Management CO. LTD. now owns 5,197 shares of the real estate investment trust's stock worth $265,000 after buying an additional 211 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Gaming and Leisure Properties by 64.2% during the 1st quarter. TD Private Client Wealth LLC now owns 545 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 213 shares during the last quarter. Pure Financial Advisors LLC lifted its holdings in shares of Gaming and Leisure Properties by 2.6% during the 1st quarter. Pure Financial Advisors LLC now owns 8,676 shares of the real estate investment trust's stock worth $442,000 after acquiring an additional 221 shares during the last quarter. Freedom Investment Management Inc. grew its position in Gaming and Leisure Properties by 3.8% in the fourth quarter. Freedom Investment Management Inc. now owns 6,063 shares of the real estate investment trust's stock worth $292,000 after acquiring an additional 222 shares in the last quarter. Finally, Opal Wealth Advisors LLC increased its stake in Gaming and Leisure Properties by 4.9% in the fourth quarter. Opal Wealth Advisors LLC now owns 5,082 shares of the real estate investment trust's stock valued at $245,000 after acquiring an additional 238 shares during the last quarter. Hedge funds and other institutional investors own 91.14% of the company's stock.

About Gaming and Leisure Properties

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.