Gaming and Leisure Properties (NASDAQ:GLPI) Price Target Cut to $49.00 by Analysts at Wells Fargo & Company

Gaming and Leisure Properties (NASDAQ:GLPI - Free Report) had its price target reduced by Wells Fargo & Company from $51.00 to $49.00 in a research report released on Monday,Benzinga reports. They currently have an equal weight rating on the real estate investment trust's stock.

A number of other research analysts also recently commented on the stock. Mizuho raised their target price on shares of Gaming and Leisure Properties from $51.00 to $53.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Scotiabank lowered 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 report on Monday, May 12th. Wedbush set a $55.00 price target on Gaming and Leisure Properties in a report on Monday, April 28th. Macquarie restated an "outperform" rating and set a $60.00 price objective on shares of Gaming and Leisure Properties in a research note on Friday, April 25th. Finally, Barclays lifted their target price on Gaming and Leisure Properties from $53.00 to $54.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 22nd. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $54.50.

Gaming and Leisure Properties Trading Up 0.8%

Shares of GLPI stock traded up $0.35 during trading hours on Monday, reaching $46.44. 872,938 shares of the stock were exchanged, compared to its average volume of 1,325,341. The firm 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 0.72. Gaming and Leisure Properties has a 12-month low of $42.86 and a 12-month high of $52.60. The company's 50-day moving average price is $47.42 and its 200-day moving average price is $48.62. 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 released its earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share for the quarter, hitting analysts' consensus estimates of $0.96. The business had revenue of $395.24 million for the quarter, compared to analyst estimates of $396.27 million. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. The business's revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 earnings per share. As a group, equities analysts anticipate that Gaming and Leisure Properties will post 3.81 earnings per share for the current year.

Gaming and Leisure Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $0.78 per share. The ex-dividend date is Friday, June 13th. This represents a $3.12 dividend on an annualized basis and a yield of 6.72%. 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 currently 111.03%.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, SVP Matthew Demchyk sold 1,903 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $51.99, for a total transaction of $98,936.97. Following the transaction, the senior vice president now directly owns 41,298 shares of the company's stock, valued at $2,147,083.02. This trade represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director E Scott Urdang sold 5,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $7,173,098.17. This trade represents a 3.43% decrease in their position. The disclosure for this sale can be found here. 4.26% of the stock is owned by corporate insiders.

Institutional Trading of Gaming and Leisure Properties

A number of institutional investors have recently made changes to their positions in GLPI. Strs Ohio acquired a new stake in Gaming and Leisure Properties during the 1st quarter worth $15,446,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of 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 purchasing an additional 1,946,575 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of Gaming and Leisure Properties in the first quarter valued at approximately $1,154,000. Everstar Asset Management LLC acquired a new stake in shares of Gaming and Leisure Properties in the first quarter valued at approximately $2,602,000. Finally, Presima Securities ULC lifted its position in Gaming and Leisure Properties by 10.0% during the first quarter. Presima Securities ULC now owns 746,719 shares of the real estate investment trust's stock worth $38,008,000 after buying an additional 67,632 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.