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 target price reduced by Wells Fargo & Company from $51.00 to $49.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust's stock.

Other equities analysts also recently issued research reports about the company. Scotiabank decreased their target price on Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating on the stock in a research report on Monday, May 12th. Macquarie reaffirmed an "outperform" rating and issued a $60.00 target price on shares of Gaming and Leisure Properties in a research report on Friday, April 25th. Royal Bank of Canada decreased their target price on Gaming and Leisure Properties from $56.00 to $54.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Barclays upped 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 report on Tuesday, April 22nd. Finally, Wedbush set a $55.00 target price on Gaming and Leisure Properties in a research report on Monday, April 28th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.50.

Gaming and Leisure Properties Stock Down 0.5%

Shares of Gaming and Leisure Properties stock traded down $0.23 during trading on Monday, reaching $46.09. The stock had a trading volume of 1,420,608 shares, compared to its average volume of 1,322,982. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. The stock has a fifty day moving average price of $47.51 and a two-hundred day moving average price of $48.64. The company has a market capitalization of $12.67 billion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 2.01 and a beta of 0.81. Gaming and Leisure Properties has a 52 week low of $42.86 and a 52 week high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its quarterly 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 firm had revenue of $395.24 million for the quarter, compared to the consensus estimate 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 in the previous year, the business earned $0.92 earnings per share. Sell-side analysts predict that Gaming and Leisure Properties will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.12 dividend on an annualized basis and a yield of 6.77%. 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

In other Gaming and Leisure Properties news, SVP Matthew Demchyk sold 1,903 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $51.99, for a total value of $98,936.97. Following the sale, the senior vice president now owns 41,298 shares of the company's stock, valued at approximately $2,147,083.02. This trade represents a 4.40% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 on Tuesday, March 11th. The shares were sold at an average price of $50.89, for a total value of $254,450.00. Following the completion of the sale, the director now directly owns 140,953 shares in the company, valued at approximately $7,173,098.17. This represents a 3.43% decrease in their position. The disclosure for this sale can be found here. 4.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Gaming and Leisure Properties

A number of large investors have recently modified their holdings of the business. Strs Ohio acquired a new stake in shares of Gaming and Leisure Properties in the 1st quarter valued at $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% in 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 in the last quarter. Caxton Associates LLP acquired a new stake in shares of Gaming and Leisure Properties in the 1st quarter valued at $1,154,000. Everstar Asset Management LLC acquired a new stake in shares of Gaming and Leisure Properties in the 1st quarter valued at $2,602,000. Finally, Presima Securities ULC boosted its holdings in shares of Gaming and Leisure Properties by 10.0% during the 1st quarter. Presima Securities ULC now owns 746,719 shares of the real estate investment trust's stock valued at $38,008,000 after acquiring an additional 67,632 shares in the last quarter. 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.