Gaming and Leisure Properties (NASDAQ:GLPI) Upgraded to Overweight at JPMorgan Chase & Co.

Gaming and Leisure Properties (NASDAQ:GLPI) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Friday, MarketBeat reports. The firm currently has a $54.00 target price on the real estate investment trust’s stock, up from their prior target price of $49.00. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 7.81% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. JMP Securities reissued a “market outperform” rating and set a $55.00 price objective on shares of Gaming and Leisure Properties in a report on Tuesday, October 29th. Stifel Nicolaus lifted their price target on Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Wolfe Research upgraded shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price target for the company in a research report on Friday, August 23rd. StockNews.com cut shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $52.00 price objective (up from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and a consensus price target of $53.96.

Gaming and Leisure Properties Stock Performance

Shares of GLPI opened at $50.09 on Friday. Gaming and Leisure Properties has a 1 year low of $41.80 and a 1 year high of $52.60. The stock has a market capitalization of $13.74 billion, a PE ratio of 17.51, a PEG ratio of 2.10 and a beta of 0.98. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. The stock has a 50-day simple moving average of $50.49 and a 200-day simple moving average of $49.03.

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

Insider Transactions at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 6,885 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.16, for a total value of $345,351.60. Following the transaction, the director now owns 149,800 shares in the company, valued at approximately $7,513,968. This trade represents a 4.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.37% of the company’s stock.

Institutional Investors Weigh In On Gaming and Leisure Properties

Hedge funds have recently modified their holdings of the stock. Assetmark Inc. grew its stake in shares of Gaming and Leisure Properties by 2,547.6% during the third quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 535 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Gaming and Leisure Properties during the 2nd quarter valued at approximately $31,000. EdgeRock Capital LLC acquired a new stake in shares of Gaming and Leisure Properties during the second quarter worth approximately $33,000. Farther Finance Advisors LLC increased its stake in shares of Gaming and Leisure Properties by 142.2% in the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 384 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Gaming and Leisure Properties by 578.4% in the second quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 590 shares in the last quarter. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

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.