Royal Bank of Canada Lowers Gaming and Leisure Properties (NASDAQ:GLPI) Price Target to $47.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its target price reduced by Royal Bank of Canada from $49.00 to $47.00 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. Royal Bank of Canada’s price target indicates a potential upside of 9.99% from the stock’s current price.

A number of other analysts also recently issued reports on GLPI. Morgan Stanley lowered their price target on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. JMP Securities restated a “market outperform” rating and issued a $53.00 price target on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. Mizuho lowered their price target on Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Finally, StockNews.com raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.91.

Gaming and Leisure Properties Price Performance

NASDAQ:GLPI opened at $42.73 on Monday. The firm’s fifty day moving average is $44.78 and its two-hundred day moving average is $45.84. The firm has a market cap of $11.60 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 5.31 and a beta of 0.94. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.47 and a current ratio of 6.47. Gaming and Leisure Properties has a one year low of $41.80 and a one year high of $52.31.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Friday, April 26th. The real estate investment trust reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). The company had revenue of $376.00 million during the quarter, compared to analysts’ expectations of $368.44 million. Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. During the same quarter in the previous year, the company earned $0.92 EPS. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. Research analysts expect that Gaming and Leisure Properties will post 3.66 EPS for the current year.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang bought 2,500 shares of Gaming and Leisure Properties stock in a transaction dated Friday, March 1st. The stock was acquired at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the completion of the transaction, the director now directly owns 156,685 shares of the company’s stock, valued at $7,050,825. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gaming and Leisure Properties

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Gaming and Leisure Properties by 1.5% during the third quarter. Vanguard Group Inc. now owns 37,572,599 shares of the real estate investment trust’s stock worth $1,711,432,000 after buying an additional 555,332 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Gaming and Leisure Properties by 40.8% during the 4th quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust’s stock worth $627,204,000 after acquiring an additional 3,684,553 shares during the period. Putnam Investments LLC boosted its position in shares of Gaming and Leisure Properties by 3.1% during the 4th quarter. Putnam Investments LLC now owns 9,511,521 shares of the real estate investment trust’s stock valued at $469,394,000 after acquiring an additional 282,828 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Gaming and Leisure Properties by 1.7% in the fourth quarter. Principal Financial Group Inc. now owns 8,921,163 shares of the real estate investment trust’s stock valued at $440,259,000 after purchasing an additional 150,055 shares during the period. Finally, FMR LLC increased its position in Gaming and Leisure Properties by 5.6% during the third quarter. FMR LLC now owns 6,436,482 shares of the real estate investment trust’s stock worth $293,182,000 after purchasing an additional 340,784 shares during the last quarter. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Company Profile

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.