Scotiabank Lowers Gaming and Leisure Properties (NASDAQ:GLPI) Price Target to $48.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target lowered by stock analysts at Scotiabank from $50.00 to $48.00 in a research note issued on Monday, Marketbeat reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price indicates a potential upside of 8.43% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the company. Barclays cut their price target on Gaming and Leisure Properties from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Wednesday, December 3rd. Cantor Fitzgerald cut their target price on 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. JPMorgan Chase & Co. raised Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $52.00 to $53.00 in a report on Friday, December 12th. Mizuho set a $50.00 price target on Gaming and Leisure Properties and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gaming and Leisure Properties in a research report on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.70.

Gaming and Leisure Properties Price Performance

NASDAQ:GLPI opened at $44.27 on Monday. Gaming and Leisure Properties has a 52 week low of $41.17 and a 52 week high of $52.24. The firm has a market cap of $12.53 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 2.45 and a beta of 0.67. The firm’s 50-day simple moving average is $44.41 and its 200 day simple moving average is $45.43. The company has a debt-to-equity ratio of 1.47, a quick ratio of 13.23 and a current ratio of 13.23.

Insider Activity

In related news, SVP Steven Ladany sold 13,409 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $45.04, for a total transaction of $603,941.36. Following the completion of the transaction, the senior vice president directly owned 57,886 shares in the company, valued at $2,607,185.44. This represents a 18.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 36,864 shares of company stock worth $1,650,906. Insiders own 4.26% of the company’s stock.

Institutional Trading of Gaming and Leisure Properties

A number of hedge funds and other institutional investors have recently modified their holdings of GLPI. International Assets Investment Management LLC bought a new stake in Gaming and Leisure Properties during the 4th quarter worth approximately $31,000. Generali Asset Management SPA SGR raised its stake in shares of Gaming and Leisure Properties by 94.6% during the fourth quarter. Generali Asset Management SPA SGR now owns 42,668 shares of the real estate investment trust’s stock valued at $1,907,000 after acquiring an additional 20,746 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Gaming and Leisure Properties by 9.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 37,573 shares of the real estate investment trust’s stock worth $1,679,000 after purchasing an additional 3,352 shares during the period. Gateway Investment Advisers LLC lifted its holdings in shares of Gaming and Leisure Properties by 22.6% during the fourth quarter. Gateway Investment Advisers LLC now owns 13,256 shares of the real estate investment trust’s stock worth $592,000 after purchasing an additional 2,444 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Gaming and Leisure Properties by 10.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 498,592 shares of the real estate investment trust’s stock worth $22,147,000 after purchasing an additional 46,497 shares during the last quarter. 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.