Macquarie Lowers Gaming and Leisure Properties (NASDAQ:GLPI) Price Target to $59.00

Key Points

• Macquarie has reduced its price target for Gaming and Leisure Properties (NASDAQ:GLPI) from $60.00 to $59.00, suggesting a potential upside of 28.50% from the current stock price.
• Multiple research firms have issued varying price targets for GLPI, with Wedbush setting $55.00 and Wells Fargo reducing theirs to $49.00, highlighting a consensus of cautious outlook among analysts.
• GLPI's stock is currently trading at $45.91, down 1.6%, as the company reports a slight earnings miss and shows a year-over-year revenue increase of 3.8%.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) had its price target cut by stock analysts at Macquarie from $60.00 to $59.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "outperform" rating on the real estate investment trust's stock. Macquarie's price target points to a potential upside of 27.84% from the company's previous close.

Other research analysts have also recently issued reports about the company. Wedbush set a $55.00 target price on Gaming and Leisure Properties in a research note on Monday, April 28th. Royal Bank Of Canada reduced their price target on Gaming and Leisure Properties from $54.00 to $53.00 and set an "outperform" rating on the stock in a research note on Monday. Mizuho cut their price objective on Gaming and Leisure Properties from $53.00 to $48.00 and set a "neutral" rating on the stock in a research report on Monday, June 16th. Barclays lifted their target price on Gaming and Leisure Properties from $54.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Finally, Scotiabank decreased their target price on Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating for the company in a research note on Monday, May 12th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $53.16.

Gaming and Leisure Properties Stock Up 1.3%

GLPI stock traded up $0.57 during midday trading on Monday, hitting $46.15. The stock had a trading volume of 2,029,274 shares, compared to its average volume of 1,466,134. The business has a 50-day moving average of $46.88 and a two-hundred day moving average of $48.05. The firm has a market cap of $13.06 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 9.94 and a beta of 0.72. Gaming and Leisure Properties has a 52-week low of $44.48 and a 52-week high of $52.60. The company has a debt-to-equity ratio of 1.41, a current ratio of 7.39 and a quick ratio of 7.39.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.01). The firm had revenue of $394.90 million for the quarter, compared to analysts' expectations of $397.27 million. Gaming and Leisure Properties had a net margin of 46.32% and a return on equity of 15.43%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 EPS. As a group, equities research analysts forecast that Gaming and Leisure Properties will post 3.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director E Scott Urdang sold 4,000 shares of Gaming and Leisure Properties stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $46.58, for a total transaction of $186,320.00. Following the sale, the director directly owned 136,953 shares in the company, valued at $6,379,270.74. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Dodge & Cox increased its position in shares of Gaming and Leisure Properties by 75.3% during the 4th 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 purchased a new stake in Gaming and Leisure Properties in the fourth quarter valued at approximately $176,123,000. Nuveen LLC purchased a new position in shares of Gaming and Leisure Properties during the first quarter worth approximately $151,723,000. Invesco Ltd. raised its stake in shares of Gaming and Leisure Properties by 127.7% during the first quarter. Invesco Ltd. now owns 4,512,234 shares of the real estate investment trust's stock worth $229,673,000 after acquiring an additional 2,530,463 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings 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 valued at $112,622,000 after purchasing an additional 1,946,575 shares during the period. Institutional investors and hedge funds own 91.14% of the company's stock.

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.