Scotiabank Issues Pessimistic Forecast for Gaming and Leisure Properties (NASDAQ:GLPI) Stock Price

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target cut by equities researchers at Scotiabank from $50.00 to $48.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price indicates a potential upside of 7.65% from the stock’s previous close.

A number of other equities analysts also recently weighed in on GLPI. Morgan Stanley boosted their price target on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 24th. Barclays lowered their price target on Gaming and Leisure Properties from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Wednesday, December 3rd. Cantor Fitzgerald decreased their target price on Gaming and Leisure Properties from $51.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Stifel Nicolaus set a $47.75 target price on shares of Gaming and Leisure Properties in a research note on Monday, December 15th. Finally, JPMorgan Chase & Co. raised Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $52.00 to $53.00 in a report on Friday, December 12th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and an average target price of $51.70.

Gaming and Leisure Properties Stock Performance

Shares of GLPI traded down $0.16 during trading hours on Monday, reaching $44.59. 226,943 shares of the company traded hands, compared to its average volume of 2,341,366. Gaming and Leisure Properties has a 1-year low of $41.17 and a 1-year high of $52.24. The stock has a market cap of $12.62 billion, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 2.48 and a beta of 0.67. The stock’s fifty day moving average is $44.36 and its 200 day moving average is $45.48. The company has a debt-to-equity ratio of 1.47, a quick ratio of 13.23 and a current ratio of 13.23.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. Gaming and Leisure Properties had a net margin of 49.54% and a return on equity of 16.34%. The business had revenue of $397.61 million for the quarter, compared to analyst estimates of $399.66 million. During the same quarter last year, the firm earned $0.95 EPS. Gaming and Leisure Properties’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities research analysts anticipate that Gaming and Leisure Properties will post 3.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Steven Ladany sold 13,409 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $45.04, for a total transaction of $603,941.36. Following the sale, the senior vice president directly owned 57,886 shares in the company, valued at $2,607,185.44. This trade represents a 18.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director E Scott Urdang sold 4,000 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $45.49, for a total value of $181,960.00. Following the completion of the sale, the director owned 129,953 shares of the company’s stock, valued at $5,911,561.97. This represents a 2.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 40,864 shares of company stock valued at $1,832,866 over the last ninety days. 4.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GLPI. Spire Wealth Management increased its position in Gaming and Leisure Properties by 62.3% in the 3rd quarter. Spire Wealth Management now owns 620 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 238 shares during the period. V Square Quantitative Management LLC bought a new stake in Gaming and Leisure Properties in the fourth quarter valued at $29,000. REAP Financial Group LLC increased its holdings in Gaming and Leisure Properties by 66.0% in the 2nd quarter. REAP Financial Group LLC now owns 664 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 264 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Gaming and Leisure Properties by 89.3% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 655 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 309 shares in the last quarter. Finally, Quent Capital LLC purchased a new position in Gaming and Leisure Properties during the 3rd quarter valued at about $31,000. 91.14% of the stock is owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Company Profile

Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.

The company’s core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.