Gaming and Leisure Properties (NASDAQ:GLPI) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a neutral rating to an overweight rating in a research note released on Friday morning, MarketBeat.com reports. JPMorgan Chase & Co. currently has $53.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $52.00.

A number of other equities research analysts have also recently commented on GLPI. Cantor Fitzgerald decreased their target price on shares of Gaming and Leisure Properties from $51.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gaming and Leisure Properties in a report on Wednesday, October 8th. Barclays decreased their price objective on Gaming and Leisure Properties from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Wednesday, December 3rd. Scotiabank boosted their target price on Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 28th. Finally, Stifel Nicolaus reduced their target price on Gaming and Leisure Properties from $49.50 to $47.50 and set a “hold” rating on the stock in a research report on Friday, October 31st. Five research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Gaming and Leisure Properties has an average rating of “Hold” and an average price target of $52.13.

Gaming and Leisure Properties Trading Up 3.4%

Shares of NASDAQ GLPI opened at $43.49 on Friday. Gaming and Leisure Properties has a 1-year low of $41.17 and a 1-year high of $52.24. The business has a fifty day moving average price of $44.08 and a 200 day moving average price of $45.97. The stock has a market capitalization of $12.31 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 9.41 and a beta of 0.68. The company has a debt-to-equity ratio of 1.47, a current ratio of 13.23 and a quick ratio of 13.23.

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 the consensus estimate of $0.96 by $0.01. The company had revenue of $397.61 million for the quarter, compared to analyst estimates of $399.66 million. Gaming and Leisure Properties had a return on equity of 16.34% and a net margin of 49.54%.The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 earnings per share. Gaming and Leisure Properties has set its FY 2025 guidance at 3.860-3.880 EPS. Equities research analysts expect that Gaming and Leisure Properties will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a $0.78 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.12 dividend on an annualized basis and a yield of 7.2%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 113.04%.

Insider Buying and Selling

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 4,000 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $45.49, for a total transaction of $181,960.00. Following the sale, the director owned 129,953 shares in the company, valued at approximately $5,911,561.97. The trade was a 2.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.26% of the company’s stock.

Institutional Investors Weigh In On Gaming and Leisure Properties

A number of institutional investors and hedge funds have recently modified their holdings of GLPI. Barclays PLC increased its holdings in Gaming and Leisure Properties by 1,525.0% in the 3rd quarter. Barclays PLC now owns 4,033,903 shares of the real estate investment trust’s stock worth $188,020,000 after buying an additional 3,785,669 shares during the period. Norges Bank acquired a new stake in Gaming and Leisure Properties during the 2nd quarter valued at approximately $175,169,000. Balyasny Asset Management L.P. purchased a new stake in shares of Gaming and Leisure Properties in the 2nd quarter valued at $124,785,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Gaming and Leisure Properties by 711.8% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,369,851 shares of the real estate investment trust’s stock worth $110,459,000 after acquiring an additional 2,077,937 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Gaming and Leisure Properties by 175.7% in the third quarter. Bank of America Corp DE now owns 2,364,746 shares of the real estate investment trust’s stock worth $110,221,000 after acquiring an additional 1,507,006 shares during the period. Institutional investors and hedge funds own 91.14% of the company’s stock.

Gaming and Leisure Properties Company Profile

Gaming & Leisure Properties, Inc engages in the provision of 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.