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

JMP Securities restated their market outperform rating on shares of Gaming and Leisure Properties (NASDAQ:GLPI) in a research report sent to investors on Wednesday,Benzinga reports. JMP Securities currently has a $55.00 target price on the real estate investment trust’s stock.

Other equities research analysts have also issued research reports about the company. Raymond James raised their price target on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Mizuho reduced their price target on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $52.00 price objective (up from $51.00) on shares of Gaming and Leisure Properties in a research report on Tuesday, October 1st. Stifel Nicolaus increased their target price on Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and increased their target price for the stock from $49.00 to $54.00 in a report on Wednesday, November 20th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Gaming and Leisure Properties Price Performance

NASDAQ:GLPI traded down $0.23 during mid-day trading on Wednesday, reaching $46.87. 158,131 shares of the company were exchanged, compared to its average volume of 1,293,885. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. The stock has a market cap of $12.86 billion, a PE ratio of 16.39, a PEG ratio of 2.10 and a beta of 0.98. Gaming and Leisure Properties has a 12 month low of $41.80 and a 12 month high of $52.60. The company has a fifty day moving average of $50.34 and a 200 day moving average of $49.12.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.25). Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The firm had revenue of $385.34 million during the quarter, compared to the consensus estimate of $385.09 million. During the same quarter in the prior year, the business earned $0.92 EPS. Gaming and Leisure Properties’s revenue was up 7.2% on a year-over-year basis. On average, research analysts anticipate that Gaming and Leisure Properties will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 6.49%. The ex-dividend date is Friday, December 6th. Gaming and Leisure Properties’s dividend payout ratio is currently 106.29%.

Insider Buying and Selling

In other news, Director E Scott Urdang sold 3,000 shares of Gaming and Leisure Properties stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $50.39, for a total transaction of $151,170.00. Following the sale, the director now directly owns 146,800 shares of the company’s stock, valued at approximately $7,397,252. This trade represents a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GLPI. Segall Bryant & Hamill LLC acquired a new position in Gaming and Leisure Properties in the 3rd quarter valued at approximately $693,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Gaming and Leisure Properties by 63.1% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 51,991 shares of the real estate investment trust’s stock worth $2,351,000 after buying an additional 20,111 shares during the period. Sei Investments Co. boosted its holdings in Gaming and Leisure Properties by 11.4% in the second quarter. Sei Investments Co. now owns 539,593 shares of the real estate investment trust’s stock worth $24,395,000 after acquiring an additional 55,385 shares in the last quarter. Cerity Partners LLC grew its stake in Gaming and Leisure Properties by 87.5% in the third quarter. Cerity Partners LLC now owns 14,410 shares of the real estate investment trust’s stock valued at $741,000 after acquiring an additional 6,724 shares during the period. Finally, Zacks Investment Management increased its holdings in shares of Gaming and Leisure Properties by 10.9% during the third quarter. Zacks Investment Management now owns 522,197 shares of the real estate investment trust’s stock valued at $26,867,000 after acquiring an additional 51,398 shares in the last quarter. Institutional investors own 91.14% of the company’s stock.

About Gaming and Leisure Properties

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.