Gaming and Leisure Properties (NASDAQ:GLPI) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Gaming and Leisure Properties (NASDAQ:GLPIFree Report) in a report published on Thursday morning, Benzinga reports. JMP Securities currently has a $53.00 price target on the real estate investment trust’s stock.

Several other brokerages have also recently weighed in on GLPI. JPMorgan Chase & Co. cut Gaming and Leisure Properties from an overweight rating to a neutral rating and set a $48.00 target price for the company. in a research note on Thursday, December 14th. Royal Bank of Canada decreased their target price on Gaming and Leisure Properties from $54.00 to $50.00 and set an outperform rating for the company in a research note on Monday, October 30th. Mizuho raised their target price on Gaming and Leisure Properties from $47.00 to $49.00 and gave the company a neutral rating in a research note on Wednesday, January 10th. Finally, The Goldman Sachs Group assumed coverage on Gaming and Leisure Properties in a research report on Friday, December 8th. They issued a neutral rating and a $51.00 price target for the company. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $52.73.

Check Out Our Latest Research Report on GLPI

Gaming and Leisure Properties Trading Up 0.7 %

Shares of GLPI stock opened at $45.72 on Thursday. The stock has a 50-day simple moving average of $47.20 and a 200 day simple moving average of $46.71. Gaming and Leisure Properties has a fifty-two week low of $43.54 and a fifty-two week high of $55.13. The stock has a market capitalization of $12.21 billion, a P/E ratio of 16.69, a P/E/G ratio of 4.78 and a beta of 0.95. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.46.

Gaming and Leisure Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 8th were given a dividend of $0.73 per share. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $2.92 dividend on an annualized basis and a yield of 6.39%. Gaming and Leisure Properties’s payout ratio is presently 106.57%.

Insiders Place Their Bets

In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $49.31, for a total transaction of $78,896.00. Following the completion of the sale, the chief financial officer now directly owns 147,710 shares in the company, valued at approximately $7,283,580.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Gaming and Leisure Properties news, COO Brandon John Moore sold 26,623 shares of the firm’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $48.89, for a total transaction of $1,301,598.47. Following the completion of the sale, the chief operating officer now directly owns 242,414 shares in the company, valued at approximately $11,851,620.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Desiree A. Burke sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $49.31, for a total value of $78,896.00. Following the sale, the chief financial officer now owns 147,710 shares of the company’s stock, valued at $7,283,580.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,614 shares of company stock worth $2,621,353. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Gaming and Leisure Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Gaming and Leisure Properties by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 37,572,599 shares of the real estate investment trust’s stock worth $1,711,432,000 after purchasing an additional 555,332 shares in the last quarter. BlackRock Inc. raised its stake in shares of Gaming and Leisure Properties by 2.7% during the 2nd quarter. BlackRock Inc. now owns 18,969,442 shares of the real estate investment trust’s stock worth $919,259,000 after purchasing an additional 495,114 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Gaming and Leisure Properties by 13.6% during the 1st quarter. Wellington Management Group LLP now owns 10,515,906 shares of the real estate investment trust’s stock worth $493,511,000 after purchasing an additional 1,255,222 shares in the last quarter. State Street Corp raised its stake in shares of Gaming and Leisure Properties by 2.4% during the 2nd quarter. State Street Corp now owns 9,183,942 shares of the real estate investment trust’s stock worth $445,054,000 after purchasing an additional 214,286 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Gaming and Leisure Properties by 1.7% during the 4th quarter. Principal Financial Group Inc. now owns 8,921,163 shares of the real estate investment trust’s stock worth $440,259,000 after purchasing an additional 150,055 shares in the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Company Profile

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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.

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Analyst Recommendations for Gaming and Leisure Properties (NASDAQ:GLPI)

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