Barclays Cuts Gaming and Leisure Properties (NASDAQ:GLPI) Price Target to $53.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target dropped by equities research analysts at Barclays from $55.00 to $53.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target points to a potential upside of 6.30% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Morgan Stanley lowered shares of Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 target price for the company. in a report on Wednesday, January 15th. Scotiabank reduced their price target on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 16th. Royal Bank of Canada lowered their price objective on shares of Gaming and Leisure Properties from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Monday, February 24th. JPMorgan Chase & Co. upgraded Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $49.00 to $54.00 in a report on Friday, December 13th. Finally, Mizuho lowered their target price on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.04.

Gaming and Leisure Properties Stock Down 0.6 %

Shares of NASDAQ:GLPI opened at $49.86 on Tuesday. The stock has a market capitalization of $13.70 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 2.01 and a beta of 0.99. The stock’s 50-day moving average price is $48.36 and its 200-day moving average price is $49.79. 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 has a 12-month low of $41.80 and a 12-month high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.01. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. The business had revenue of $389.62 million for the quarter, compared to analyst estimates of $391.54 million. On average, equities analysts anticipate that Gaming and Leisure Properties will post 3.81 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Matthew Demchyk sold 17,617 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $49.40, for a total value of $870,279.80. Following the transaction, the senior vice president now owns 54,140 shares of the company’s stock, valued at approximately $2,674,516. This trade represents a 24.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director E Scott Urdang sold 5,000 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $49.72, for a total value of $248,600.00. Following the completion of the transaction, the director now directly owns 145,953 shares in the company, valued at approximately $7,256,783.16. This represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,222 shares of company stock valued at $1,873,547. Company insiders own 4.37% of the company’s stock.

Institutional Investors Weigh In On Gaming and Leisure Properties

Institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. grew its holdings in Gaming and Leisure Properties by 2,547.6% during the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 535 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Gaming and Leisure Properties in the fourth quarter valued at about $31,000. Farther Finance Advisors LLC boosted its holdings in shares of Gaming and Leisure Properties by 142.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 384 shares during the last quarter. CKW Financial Group grew its position in Gaming and Leisure Properties by 75.0% during the 4th quarter. CKW Financial Group now owns 700 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 300 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in shares of Gaming and Leisure Properties during the 3rd quarter worth approximately $39,000. 91.14% of the stock is owned by hedge funds and other institutional investors.

About Gaming and Leisure Properties

Gaming & Leisure Properties, Inc engages in 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.