Gaming and Leisure Properties (GLPI) Price Target Raised to $32.00 at Bank of America

Gaming and Leisure Properties (NASDAQ:GLPI) had its target price increased by research analysts at Bank of America from $31.00 to $32.00 in a research note issued on Tuesday, April 17th. The brokerage currently has an “underperform” rating on the real estate investment trust’s stock. Bank of America’s price target would suggest a potential downside of 6.71% from the stock’s current price.

Several other brokerages have also commented on GLPI. Ladenburg Thalmann set a $43.00 price objective on Gaming and Leisure Properties and gave the stock a “buy” rating in a report on Tuesday, December 19th. UBS raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Tuesday, December 19th. Jefferies Group started coverage on Gaming and Leisure Properties in a report on Thursday, January 18th. They set a “hold” rating for the company. Barclays reissued a “buy” rating on shares of Gaming and Leisure Properties in a report on Sunday, December 24th. Finally, BidaskClub raised Gaming and Leisure Properties from a “strong sell” rating to a “sell” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $38.38.

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Shares of GLPI opened at $34.30 on Tuesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.80 and a quick ratio of 0.80. Gaming and Leisure Properties has a one year low of $32.51 and a one year high of $39.32. The firm has a market capitalization of $7,341.69, a P/E ratio of 10.99 and a beta of 0.80.



Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.33). Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 39.18%. The firm had revenue of $240.70 million during the quarter, compared to the consensus estimate of $243.27 million. During the same period in the previous year, the firm earned $0.45 EPS. The business’s revenue was up .8% on a year-over-year basis. equities research analysts predict that Gaming and Leisure Properties will post 3.05 EPS for the current fiscal year.

In other Gaming and Leisure Properties news, CEO Peter M. Carlino acquired 40,000 shares of the stock in a transaction dated Monday, February 12th. The shares were acquired at an average cost of $33.33 per share, for a total transaction of $1,333,200.00. Following the completion of the transaction, the chief executive officer now directly owns 4,388,089 shares of the company’s stock, valued at $146,255,006.37. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO William J. Clifford acquired 54,606 shares of the stock in a transaction dated Monday, February 12th. The stock was acquired at an average price of $33.00 per share, for a total transaction of $1,801,998.00. Following the completion of the transaction, the chief financial officer now directly owns 320,674 shares of the company’s stock, valued at $10,582,242. The disclosure for this purchase can be found here. Insiders own 5.88% of the company’s stock.

Several institutional investors have recently made changes to their positions in GLPI. Focused Wealth Management Inc purchased a new position in shares of Gaming and Leisure Properties in the fourth quarter valued at about $100,000. American International Group Inc. purchased a new stake in shares of Gaming and Leisure Properties in the fourth quarter worth about $160,000. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Gaming and Leisure Properties by 46.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,290 shares of the real estate investment trust’s stock worth $196,000 after buying an additional 1,679 shares in the last quarter. Signition LP purchased a new stake in shares of Gaming and Leisure Properties in the fourth quarter worth about $224,000. Finally, Stifel Financial Corp purchased a new stake in shares of Gaming and Leisure Properties in the third quarter worth about $249,000. Institutional investors and hedge funds own 92.49% of the company’s stock.

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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.

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

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