Brokerages Set Gaming and Leisure Properties Inc (NASDAQ:GLPI) Price Target at $42.56

Shares of Gaming and Leisure Properties Inc (NASDAQ:GLPI) have received a consensus rating of “Buy” from the twelve research firms that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $42.56.

GLPI has been the topic of several analyst reports. Morgan Stanley increased their price target on Gaming and Leisure Properties from $42.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. BidaskClub downgraded Gaming and Leisure Properties from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 11th. Deutsche Bank reiterated a “buy” rating and set a $47.00 price target on shares of Gaming and Leisure Properties in a report on Sunday, May 12th. Zacks Investment Research downgraded Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Finally, Stifel Nicolaus upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and increased their price target for the company from $39.00 to $43.00 in a report on Monday, April 15th.

Shares of GLPI opened at $40.73 on Tuesday. The company has a market cap of $8.65 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 0.97 and a beta of 0.58. The company has a debt-to-equity ratio of 2.72, a quick ratio of 2.99 and a current ratio of 2.99. Gaming and Leisure Properties has a twelve month low of $31.19 and a twelve month high of $40.82.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.68 dividend. The ex-dividend date is Thursday, June 13th. This represents a $2.72 annualized dividend and a dividend yield of 6.68%. Gaming and Leisure Properties’s payout ratio is 85.53%.

In other news, CAO Desiree A. Burke sold 41,458 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $39.06, for a total value of $1,619,349.48. Following the sale, the chief accounting officer now owns 119,264 shares in the company, valued at $4,658,451.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 5.88% of the company’s stock.

Several institutional investors have recently made changes to their positions in GLPI. PGGM Investments grew its stake in shares of Gaming and Leisure Properties by 85.4% in the first quarter. PGGM Investments now owns 8,278,672 shares of the real estate investment trust’s stock worth $319,308,000 after acquiring an additional 3,812,672 shares during the last quarter. Cohen & Steers Inc. lifted its position in Gaming and Leisure Properties by 434.2% in the fourth quarter. Cohen & Steers Inc. now owns 3,791,853 shares of the real estate investment trust’s stock worth $122,515,000 after purchasing an additional 3,082,056 shares during the period. Vanguard Group Inc lifted its position in Gaming and Leisure Properties by 9.1% in the third quarter. Vanguard Group Inc now owns 30,677,165 shares of the real estate investment trust’s stock worth $1,081,370,000 after purchasing an additional 2,553,357 shares during the period. LSV Asset Management lifted its position in Gaming and Leisure Properties by 200.9% in the first quarter. LSV Asset Management now owns 3,077,132 shares of the real estate investment trust’s stock worth $118,684,000 after purchasing an additional 2,054,581 shares during the period. Finally, Norges Bank bought a new position in Gaming and Leisure Properties in the fourth quarter worth $59,288,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

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.

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

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