Royal Bank of Canada Issues Pessimistic Forecast for Gaming and Leisure Properties (NASDAQ:GLPI) Stock Price

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target dropped by equities researchers at Royal Bank of Canada from $57.00 to $56.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 13.52% from the company’s current price.

A number of other brokerages also recently issued reports on GLPI. Stifel Nicolaus raised their price target on shares of Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a “buy” rating in a report on Tuesday, November 26th. Barclays started coverage on shares of Gaming and Leisure Properties in a research note on Tuesday, December 17th. They set an “equal weight” rating and a $54.53 target price for the company. Scotiabank dropped their price target on Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. JMP Securities reiterated a “market outperform” rating and set a $55.00 price objective on shares of Gaming and Leisure Properties in a research report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and upped their price target for the company from $49.00 to $54.00 in a research report on Wednesday, November 20th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.15.

Gaming and Leisure Properties Stock Up 0.4 %

Shares of GLPI traded up $0.21 during trading hours on Monday, hitting $49.33. The company had a trading volume of 213,531 shares, compared to its average volume of 992,992. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 2.01 and a beta of 0.99. The firm has a fifty day moving average price of $48.14 and a 200-day moving average price of $49.77. Gaming and Leisure Properties has a 52-week low of $41.80 and a 52-week high of $52.60. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.01. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. The business had revenue of $389.62 million for the quarter, compared to analysts’ expectations of $391.54 million. On average, equities research analysts forecast that Gaming and Leisure Properties will post 3.81 EPS for the current fiscal year.

Insider Activity

In related news, COO Brandon John Moore sold 3,982 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $47.84, for a total value of $190,498.88. Following the completion of the sale, the chief operating officer now directly owns 278,634 shares in the company, valued at $13,329,850.56. This trade represents a 1.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Matthew Demchyk sold 1,149 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $47.80, for a total transaction of $54,922.20. Following the completion of the sale, the senior vice president now directly owns 91,620 shares in the company, valued at approximately $4,379,436. This represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,222 shares of company stock worth $1,624,947. 4.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Assetmark Inc. boosted its holdings in Gaming and Leisure Properties by 2,547.6% during the 3rd 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 during the period. Stonebridge Financial Group LLC bought a new position in Gaming and Leisure Properties in the fourth quarter worth approximately $31,000. Farther Finance Advisors LLC increased its holdings in Gaming and Leisure Properties by 142.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 384 shares during the period. CKW Financial Group raised its position in Gaming and Leisure Properties by 75.0% during the 4th quarter. CKW Financial Group now owns 700 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 300 shares in the last quarter. Finally, Abich Financial Wealth Management LLC lifted its holdings in shares of Gaming and Leisure Properties by 3,191.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 757 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 734 shares during the period. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Company Profile

Gaming & Leisure Properties, Inc engages in acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.