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

Gaming and Leisure Properties (NASDAQ:GLPI) had its target price lowered by Scotiabank from $50.00 to $48.00 in a report issued on Monday, Marketbeat.com reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

A number of other brokerages also recently weighed in on GLPI. Mizuho set a $50.00 price target on shares of Gaming and Leisure Properties and gave the company an “outperform” rating in a report on Wednesday, December 17th. Morgan Stanley boosted their target price on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 24th. Barclays reduced their target price on shares of 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. Weiss Ratings restated a “hold (c)” rating on shares of Gaming and Leisure Properties in a research report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. raised Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and upped their price target for the company from $52.00 to $53.00 in a report on Friday, December 12th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.70.

Gaming and Leisure Properties Stock Up 2.7%

GLPI opened at $45.45 on Monday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 13.23 and a current ratio of 13.23. The company has a market capitalization of $12.86 billion, a PE ratio of 16.47, a P/E/G ratio of 2.45 and a beta of 0.67. The stock’s fifty day moving average is $44.45 and its 200-day moving average is $45.43. Gaming and Leisure Properties has a one year low of $41.17 and a one year high of $52.24.

Gaming and Leisure Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a dividend of $0.78 per share. The ex-dividend date was Friday, December 5th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.9%. Gaming and Leisure Properties’s payout ratio is currently 113.04%.

Insider Activity at Gaming and Leisure Properties

In related news, SVP Steven Ladany sold 13,409 shares of the firm’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 value of $603,941.36. Following the completion of the transaction, the senior vice president owned 57,886 shares of the company’s stock, valued at approximately $2,607,185.44. This trade represents a 18.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 36,864 shares of company stock valued at $1,650,906. 4.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Gaming and Leisure Properties

Several large investors have recently added to or reduced their stakes in the company. Spire Wealth Management grew its holdings in shares of Gaming and Leisure Properties by 62.3% during the third quarter. Spire Wealth Management now owns 620 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 238 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Gaming and Leisure Properties during the 4th quarter worth about $29,000. MassMutual Private Wealth & Trust FSB grew its stake in Gaming and Leisure Properties by 89.3% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 655 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 309 shares in the last quarter. REAP Financial Group LLC increased its holdings in shares of Gaming and Leisure Properties by 66.0% in the 2nd quarter. REAP Financial Group LLC now owns 664 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 264 shares during the period. Finally, Quent Capital LLC acquired a new position in shares of Gaming and Leisure Properties in the 3rd quarter valued at about $31,000. 91.14% of the stock is owned by institutional investors and hedge funds.

About Gaming and Leisure Properties

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.