Gaming and Leisure Properties (NASDAQ:GLPI) had its price target reduced by Morgan Stanley from $52.00 to $35.00 in a report published on Monday, AnalystRatings.com reports. Morgan Stanley currently has an overweight rating on the real estate investment trust’s stock.
A number of other brokerages have also weighed in on GLPI. LADENBURG THALM/SH SH lifted their price target on shares of Gaming and Leisure Properties from $47.00 to $51.00 and gave the company a buy rating in a report on Wednesday, February 5th. They noted that the move was a valuation call. Nomura raised shares of Gaming and Leisure Properties from a neutral rating to a buy rating and cut their target price for the company from $45.00 to $29.00 in a research note on Wednesday, March 25th. BidaskClub downgraded shares of Gaming and Leisure Properties from a strong-buy rating to a buy rating in a research note on Saturday, March 14th. Deutsche Bank assumed coverage on shares of Gaming and Leisure Properties in a research note on Sunday. They issued a buy rating and a $46.00 target price on the stock. Finally, Zacks Investment Research raised shares of Gaming and Leisure Properties from a hold rating to a buy rating and set a $20.00 target price on the stock in a research note on Friday, March 20th. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $39.38.
Shares of GLPI traded down $0.57 during mid-day trading on Monday, reaching $24.53. The company had a trading volume of 2,328,954 shares, compared to its average volume of 1,963,070. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 0.51 and a beta of 1.04. The firm has a fifty day simple moving average of $38.30 and a 200-day simple moving average of $41.02. Gaming and Leisure Properties has a fifty-two week low of $13.04 and a fifty-two week high of $50.99. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 2.85.
In other news, SVP Brandon John Moore sold 5,024 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $43.08, for a total value of $216,433.92. Following the completion of the sale, the senior vice president now owns 134,441 shares of the company’s stock, valued at approximately $5,791,718.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Earl C. Shanks bought 10,000 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was bought at an average cost of $14.80 per share, with a total value of $148,000.00. In the last ninety days, insiders have purchased 27,500 shares of company stock worth $761,300 and have sold 55,801 shares worth $2,463,065. Insiders own 6.05% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Heritage Wealth Advisors bought a new stake in shares of Gaming and Leisure Properties in the 4th quarter worth about $28,000. BBVA USA Bancshares Inc. bought a new stake in shares of Gaming and Leisure Properties in the 4th quarter worth about $35,000. Parallel Advisors LLC increased its position in shares of Gaming and Leisure Properties by 48.2% in the 4th quarter. Parallel Advisors LLC now owns 969 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 315 shares during the last quarter. Evoke Wealth LLC bought a new stake in shares of Gaming and Leisure Properties in the 3rd quarter worth about $47,000. Finally, Huntington National Bank increased its position in shares of Gaming and Leisure Properties by 76.0% in the 4th quarter. Huntington National Bank now owns 1,264 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 546 shares during the last quarter. 88.27% of the stock is owned by institutional investors.
About Gaming and Leisure Properties
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.
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