Gaming and Leisure Properties (NASDAQ:GLPI) Earns “Equal Weight” Rating from Wells Fargo & Company

Gaming and Leisure Properties (NASDAQ:GLPI)‘s stock had its “equal weight” rating reaffirmed by equities research analysts at Wells Fargo & Company in a report released on Tuesday, Benzinga reports. They currently have a $52.00 target price on the real estate investment trust’s stock, up from their prior target price of $51.00. Wells Fargo & Company‘s price target would indicate a potential upside of 1.62% from the company’s current price.

Other equities analysts have also issued research reports about the company. StockNews.com raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Friday, July 19th. Royal Bank of Canada upped their price target on Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. UBS Group upped their price target on Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Scotiabank upped their price target on Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 16th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a research note on Friday, June 21st. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.18.

Gaming and Leisure Properties Price Performance

Gaming and Leisure Properties stock traded down $0.28 on Tuesday, reaching $51.17. The company’s stock had a trading volume of 290,866 shares, compared to its average volume of 1,326,542. The company has a debt-to-equity ratio of 1.49, a quick ratio of 5.91 and a current ratio of 5.91. The company has a market cap of $13.89 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 5.36 and a beta of 0.99. The business’s fifty day moving average price is $50.47 and its 200 day moving average price is $46.74. Gaming and Leisure Properties has a twelve month low of $41.80 and a twelve month high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). The business had revenue of $380.60 million during the quarter, compared to analyst estimates of $377.95 million. Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. Gaming and Leisure Properties’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 EPS. Equities analysts expect that Gaming and Leisure Properties will post 3.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Brandon John Moore sold 30,900 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the completion of the transaction, the chief operating officer now directly owns 208,977 shares in the company, valued at $10,459,298.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO Brandon John Moore sold 30,900 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the completion of the transaction, the chief operating officer now directly owns 208,977 shares in the company, valued at $10,459,298.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Desiree A. Burke sold 12,973 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $52.02, for a total value of $674,855.46. Following the transaction, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at $5,621,957.46. The disclosure for this sale can be found here. Insiders sold 49,478 shares of company stock worth $2,495,429 over the last ninety days. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GLPI. Wellington Management Group LLP lifted its position in shares of Gaming and Leisure Properties by 40.8% in the fourth quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust’s stock valued at $627,204,000 after buying an additional 3,684,553 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Gaming and Leisure Properties by 36.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,910,169 shares of the real estate investment trust’s stock valued at $134,074,000 after buying an additional 781,906 shares during the last quarter. DigitalBridge Group Inc. acquired a new stake in shares of Gaming and Leisure Properties in the second quarter valued at approximately $16,936,000. Dimensional Fund Advisors LP lifted its position in shares of Gaming and Leisure Properties by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,104,552 shares of the real estate investment trust’s stock valued at $185,564,000 after buying an additional 350,250 shares during the last quarter. Finally, Putnam Investments LLC lifted its position in shares of Gaming and Leisure Properties by 3.1% in the fourth quarter. Putnam Investments LLC now owns 9,511,521 shares of the real estate investment trust’s stock valued at $469,394,000 after buying an additional 282,828 shares during the last quarter. 91.14% of the stock is owned by institutional investors and hedge funds.

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.