Scotiabank Has Lowered Expectations for Gaming and Leisure Properties (NASDAQ:GLPI) Stock Price

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target cut by analysts at Scotiabank from $50.00 to $48.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective suggests a potential upside of 7.65% from the company’s previous close.

GLPI has been the subject of a number of other research reports. Mizuho set a $50.00 target price on Gaming and Leisure Properties and gave the company an “outperform” rating in a report on Wednesday, December 17th. JPMorgan Chase & Co. upgraded shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $52.00 to $53.00 in a research note on Friday, December 12th. Barclays reduced their target price on shares of Gaming and Leisure Properties from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 3rd. UBS Group reiterated a “buy” rating on shares of Gaming and Leisure Properties in a research note on Thursday, January 8th. Finally, Morgan Stanley raised their price target on Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 24th. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Gaming and Leisure Properties has an average rating of “Moderate Buy” and a consensus target price of $51.70.

Gaming and Leisure Properties Price Performance

NASDAQ:GLPI traded down $0.16 during trading hours on Monday, reaching $44.59. The company had a trading volume of 226,943 shares, compared to its average volume of 2,341,366. The stock has a 50-day moving average of $44.36 and a two-hundred day moving average of $45.48. The company has a quick ratio of 13.23, a current ratio of 13.23 and a debt-to-equity ratio of 1.47. Gaming and Leisure Properties has a one year low of $41.17 and a one year high of $52.24. The firm has a market capitalization of $12.62 billion, a PE ratio of 16.16, a PEG ratio of 2.48 and a beta of 0.67.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Thursday, October 30th. The real estate investment trust reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $397.61 million during the quarter, compared to analysts’ expectations of $399.66 million. Gaming and Leisure Properties had a net margin of 49.54% and a return on equity of 16.34%. Gaming and Leisure Properties’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 earnings per share. Analysts forecast that Gaming and Leisure Properties will post 3.81 earnings per share for the current year.

Insiders Place Their Bets

In other Gaming and Leisure Properties news, SVP Steven Ladany sold 13,409 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $45.04, for a total value of $603,941.36. Following the completion of the sale, the senior vice president directly owned 57,886 shares of the company’s stock, valued at approximately $2,607,185.44. This represents a 18.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director E Scott Urdang sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $45.49, for a total transaction of $181,960.00. Following the completion of the transaction, the director directly owned 129,953 shares of the company’s stock, valued at approximately $5,911,561.97. This trade represents a 2.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 40,864 shares of company stock worth $1,832,866. 4.26% of the stock is currently owned by insiders.

Institutional Trading of Gaming and Leisure Properties

Several large investors have recently modified their holdings of GLPI. Ameritas Advisory Services LLC bought a new stake in Gaming and Leisure Properties during the 2nd quarter valued at approximately $33,000. Capital Advisors Inc. OK purchased a new position in shares of Gaming and Leisure Properties in the 2nd quarter valued at $253,000. Louisiana State Employees Retirement System boosted its stake in Gaming and Leisure Properties by 0.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 77,300 shares of the real estate investment trust’s stock worth $3,608,000 after purchasing an additional 400 shares in the last quarter. REAP Financial Group LLC lifted its stake in shares of Gaming and Leisure Properties by 66.0% during the second quarter. REAP Financial Group LLC now owns 664 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 264 shares during the period. Finally, Abel Hall LLC purchased a new position in Gaming and Leisure Properties in the second quarter valued at $289,000. Institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Company Profile

Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.

The company’s core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.