Gaming and Leisure Properties (NASDAQ:GLPI) Price Target Lowered to $48.00 at Scotiabank

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) had its price objective lowered by Scotiabank from $49.00 to $48.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "sector perform" rating on the real estate investment trust's stock. Scotiabank's price target would suggest a potential upside of 3.42% from the stock's previous close.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada reduced their price target on Gaming and Leisure Properties from $56.00 to $54.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Macquarie reiterated an "outperform" rating and set a $60.00 price target on shares of Gaming and Leisure Properties in a research report on Friday, April 25th. Mizuho lifted their price target on Gaming and Leisure Properties from $51.00 to $53.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Wedbush set a $55.00 price target on Gaming and Leisure Properties in a research note on Monday, April 28th. Finally, Morgan Stanley lowered Gaming and Leisure Properties from an "overweight" rating to an "equal weight" rating and set a $53.00 price target on the stock. in a research note on Wednesday, January 15th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.63.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ:GLPI traded down $0.48 during trading on Monday, hitting $46.41. The stock had a trading volume of 685,579 shares, compared to its average volume of 1,268,697. Gaming and Leisure Properties has a 12-month low of $42.86 and a 12-month high of $52.60. The stock has a market capitalization of $12.76 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 2.01 and a beta of 0.81. 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 has a 50-day simple moving average of $48.94 and a two-hundred day simple moving average of $49.04.

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

Insider Activity

In related news, Director E Scott Urdang sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $50.89, for a total transaction of $254,450.00. Following the transaction, the director now owns 140,953 shares in the company, valued at $7,173,098.17. This trade represents a 3.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Matthew Demchyk sold 1,138 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $50.45, for a total value of $57,412.10. Following the transaction, the senior vice president now owns 53,002 shares in the company, valued at $2,673,950.90. This represents a 2.10% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,842 shares of company stock worth $1,153,961. 4.37% of the stock is currently owned by insiders.

Institutional Trading of Gaming and Leisure Properties

A number of hedge funds have recently added to or reduced their stakes in the stock. Townsquare Capital LLC lifted its position in Gaming and Leisure Properties by 7.0% during the 1st quarter. Townsquare Capital LLC now owns 5,776 shares of the real estate investment trust's stock worth $294,000 after acquiring an additional 379 shares during the period. Forsta AP Fonden lifted its position in Gaming and Leisure Properties by 4.7% during the 1st quarter. Forsta AP Fonden now owns 88,600 shares of the real estate investment trust's stock worth $4,510,000 after acquiring an additional 4,000 shares during the period. Citigroup Inc. lifted its holdings in shares of Gaming and Leisure Properties by 2.2% in the 1st quarter. Citigroup Inc. now owns 240,368 shares of the real estate investment trust's stock valued at $12,235,000 after buying an additional 5,250 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Gaming and Leisure Properties by 3.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 401,073 shares of the real estate investment trust's stock worth $20,415,000 after purchasing an additional 11,593 shares during the last quarter. Finally, Headlands Technologies LLC increased its position in Gaming and Leisure Properties by 255.6% during the first quarter. Headlands Technologies LLC now owns 15,791 shares of the real estate investment trust's stock worth $804,000 after buying an additional 11,350 shares in the last quarter. 91.14% of the stock is owned by institutional investors and hedge funds.

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.

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