Gaming and Leisure Properties Inc (NASDAQ:GLPI) has received an average recommendation of “Buy” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $39.67.
Several analysts recently issued reports on the stock. Ladenburg Thalmann Financial Services set a $41.00 price target on shares of Gaming and Leisure Properties and gave the company a “buy” rating in a report on Monday, October 30th. Zacks Investment Research cut shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. SunTrust Banks reaffirmed a “hold” rating and issued a $38.00 price target on shares of Gaming and Leisure Properties in a report on Tuesday, October 24th. UBS Group raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Tuesday, December 19th. Finally, Barclays reaffirmed a “buy” rating on shares of Gaming and Leisure Properties in a report on Sunday, December 24th.
In related news, Director E Scott Urdang purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were purchased at an average cost of $36.23 per share, with a total value of $181,150.00. Following the completion of the acquisition, the director now directly owns 55,241 shares of the company’s stock, valued at approximately $2,001,381.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.88% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Mckinley Capital Management LLC Delaware bought a new stake in Gaming and Leisure Properties during the second quarter valued at $101,000. Advisor Group Inc. increased its stake in Gaming and Leisure Properties by 75.3% during the second quarter. Advisor Group Inc. now owns 4,650 shares of the real estate investment trust’s stock valued at $143,000 after purchasing an additional 1,998 shares during the last quarter. First Quadrant L P CA bought a new stake in Gaming and Leisure Properties during the third quarter valued at $151,000. Stifel Financial Corp bought a new stake in Gaming and Leisure Properties during the third quarter valued at $249,000. Finally, The Manufacturers Life Insurance Company increased its stake in Gaming and Leisure Properties by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 6,763 shares of the real estate investment trust’s stock valued at $255,000 after purchasing an additional 473 shares during the last quarter. Hedge funds and other institutional investors own 92.04% of the company’s stock.
Gaming and Leisure Properties (GLPI) traded down $0.57 during midday trading on Tuesday, hitting $36.01. 911,421 shares of the stock were exchanged, compared to its average volume of 1,025,078. Gaming and Leisure Properties has a twelve month low of $30.22 and a twelve month high of $39.32. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $7,660.00, a PE ratio of 20.01 and a beta of 0.57.
Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. The firm had revenue of $244.50 million for the quarter, compared to analysts’ expectations of $243.66 million. Gaming and Leisure Properties had a net margin of 39.31% and a return on equity of 17.37%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 earnings per share. equities analysts forecast that Gaming and Leisure Properties will post 3.09 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were issued a $0.63 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $2.52 annualized dividend and a yield of 7.00%. Gaming and Leisure Properties’s dividend payout ratio is presently 140.00%.
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About Gaming and Leisure Properties
Gaming and Leisure Properties, Inc (GLPI) is a self-administered and self-managed Pennsylvania real estate investment trust (REIT). The Company is engaged in the business of acquiring, financing and owning real estate property to be leased to gaming operators in triple net lease arrangements. Its segments include GLP Capital, L.P.
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