Brokerages Set Gaming and Leisure Properties (GLPI) Target Price at $36.75

Gaming and Leisure Properties (NASDAQ:GLPI) has received a consensus rating of “Hold” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $36.75.

Several brokerages recently weighed in on GLPI. Bank of America increased their price objective on Gaming and Leisure Properties from $31.00 to $32.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 17th. BidaskClub upgraded Gaming and Leisure Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, March 21st. Ladenburg Thalmann set a $40.00 price objective on Gaming and Leisure Properties and gave the stock a “buy” rating in a research report on Monday, February 12th. Morgan Stanley lowered their price objective on Gaming and Leisure Properties from $40.00 to $36.00 and set an “equal weight” rating for the company in a research report on Friday, February 9th. Finally, Zacks Investment Research upgraded Gaming and Leisure Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, April 11th.

A number of institutional investors have recently modified their holdings of the stock. First Mercantile Trust Co. lifted its stake in Gaming and Leisure Properties by 36.6% during the first quarter. First Mercantile Trust Co. now owns 5,600 shares of the real estate investment trust’s stock worth $187,000 after purchasing an additional 1,500 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in Gaming and Leisure Properties by 46.5% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,290 shares of the real estate investment trust’s stock worth $196,000 after purchasing an additional 1,679 shares in the last quarter. American Asset Management Inc. lifted its stake in Gaming and Leisure Properties by 11.1% during the fourth quarter. American Asset Management Inc. now owns 17,834 shares of the real estate investment trust’s stock worth $660,000 after purchasing an additional 1,785 shares in the last quarter. Franklin Resources Inc. lifted its stake in Gaming and Leisure Properties by 30.1% during the fourth quarter. Franklin Resources Inc. now owns 9,198 shares of the real estate investment trust’s stock worth $340,000 after purchasing an additional 2,126 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in Gaming and Leisure Properties by 8.9% during the first quarter. SG Americas Securities LLC now owns 27,227 shares of the real estate investment trust’s stock worth $911,000 after purchasing an additional 2,223 shares in the last quarter. Institutional investors own 91.38% of the company’s stock.

Shares of GLPI stock traded down $0.26 during trading hours on Monday, reaching $34.58. The company had a trading volume of 1,181,357 shares, compared to its average volume of 1,018,586. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market capitalization of $7.44 billion, a PE ratio of 10.98 and a beta of 0.80. Gaming and Leisure Properties has a 12-month low of $32.51 and a 12-month high of $39.32.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Wednesday, April 25th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.31). The company had revenue of $244.05 million during the quarter, compared to analysts’ expectations of $249.20 million. Gaming and Leisure Properties had a net margin of 39.42% and a return on equity of 15.51%. Gaming and Leisure Properties’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the company earned $0.45 earnings per share. equities research analysts expect that Gaming and Leisure Properties will post 3.07 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be given a $0.63 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $2.52 annualized dividend and a yield of 7.29%. Gaming and Leisure Properties’s payout ratio is 80.00%.

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.

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

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