Gaming and Leisure Properties (GLPI) Price Target Cut to $36.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target cut by stock analysts at Morgan Stanley from $40.00 to $36.00 in a research report issued to clients and investors on Friday. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s price target would suggest a potential upside of 7.27% from the company’s previous close.

Several other brokerages have also recently commented on GLPI. Stifel Nicolaus reissued a “hold” rating on shares of Gaming and Leisure Properties in a report on Friday. Barclays reissued a “buy” rating on shares of Gaming and Leisure Properties in a report on Sunday, December 24th. UBS Group 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 on the stock. Finally, SunTrust Banks raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Thursday, January 11th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $38.50.

Shares of Gaming and Leisure Properties (GLPI) traded up $0.34 during trading hours on Friday, reaching $33.56. The company had a trading volume of 2,978,386 shares, compared to its average volume of 1,297,921. Gaming and Leisure Properties has a 1 year low of $30.22 and a 1 year high of $39.32. The company has a market capitalization of $7,462.38, a PE ratio of 18.64 and a beta of 0.79. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.62 and a current ratio of 0.62.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its earnings results 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 17.37% and a net margin of 39.31%. The firm had revenue of $240.70 million for 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. Gaming and Leisure Properties’s revenue for the quarter was up .8% on a year-over-year basis. equities analysts predict that Gaming and Leisure Properties will post 3.09 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Royal Bank of Canada grew its position in Gaming and Leisure Properties by 2.4% in the second quarter. Royal Bank of Canada now owns 14,795 shares of the real estate investment trust’s stock worth $557,000 after buying an additional 352 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Gaming and Leisure Properties by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 6,763 shares of the real estate investment trust’s stock worth $255,000 after buying an additional 473 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Gaming and Leisure Properties by 0.9% in the second quarter. Public Employees Retirement System of Ohio now owns 90,674 shares of the real estate investment trust’s stock worth $3,416,000 after buying an additional 795 shares during the last quarter. Great West Life Assurance Co. Can grew its position in Gaming and Leisure Properties by 7.5% in the third quarter. Great West Life Assurance Co. Can now owns 21,394 shares of the real estate investment trust’s stock worth $778,000 after buying an additional 1,499 shares during the last quarter. Finally, Cadence Capital Management LLC grew its position in Gaming and Leisure Properties by 12.1% in the third quarter. Cadence Capital Management LLC now owns 14,137 shares of the real estate investment trust’s stock worth $522,000 after buying an additional 1,522 shares during the last quarter. Hedge funds and other institutional investors own 92.34% of the company’s stock.

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About Gaming and Leisure Properties

Gaming and Leisure Properties, Inc (GLPI) is a self-administered and self-managed Pennsylvania real estate investment trust (REIT). The Company is engaged in the business of acquiring, financing and owning real estate property to be leased to gaming operators in triple net lease arrangements. Its segments include GLP Capital, L.P.

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

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