KeyCorp Raises Gaming and Leisure Properties (NASDAQ:GLPI) Price Target to $52.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its price objective hoisted by KeyCorp from $48.00 to $52.00 in a research report released on Monday, Analyst Price Targets reports. KeyCorp currently has an overweight rating on the real estate investment trust’s stock.

GLPI has been the subject of a number of other reports. Zacks Investment Research upgraded Gaming and Leisure Properties from a hold rating to a buy rating and set a $52.00 price target for the company in a research note on Thursday, May 6th. Mizuho raised their price objective on Gaming and Leisure Properties from $49.00 to $50.00 and gave the company a buy rating in a research report on Monday, May 24th. Citigroup assumed coverage on Gaming and Leisure Properties in a research report on Wednesday, April 21st. They issued a buy rating for the company. Morgan Stanley raised their price objective on Gaming and Leisure Properties from $46.00 to $50.00 and gave the company an overweight rating in a research report on Monday, May 3rd. Finally, LADENBURG THALM/SH SH raised their price objective on Gaming and Leisure Properties from $47.50 to $51.00 in a research report on Monday, April 26th. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $48.50.

GLPI stock opened at $47.84 on Monday. The company has a debt-to-equity ratio of 2.18, a quick ratio of 6.21 and a current ratio of 6.21. The company has a 50 day moving average of $45.82. The company has a market capitalization of $11.14 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 3.22 and a beta of 1.01. Gaming and Leisure Properties has a twelve month low of $31.93 and a twelve month high of $48.92.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, April 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.27). Gaming and Leisure Properties had a net margin of 45.76% and a return on equity of 22.25%. On average, equities analysts forecast that Gaming and Leisure Properties will post 3.28 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 25th. Investors of record on Friday, June 11th will be issued a dividend of $0.67 per share. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.65. This represents a $2.68 annualized dividend and a yield of 5.60%. The ex-dividend date is Thursday, June 10th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 75.36%.

In related news, Director E Scott Urdang acquired 1,000 shares of the company’s stock in a transaction on Thursday, May 6th. The stock was purchased at an average cost of $46.21 per share, with a total value of $46,210.00. Following the acquisition, the director now directly owns 132,191 shares of the company’s stock, valued at $6,108,546.11. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brandon John Moore sold 10,000 shares of Gaming and Leisure Properties stock in a transaction on Monday, June 7th. The shares were sold at an average price of $48.02, for a total value of $480,200.00. Following the completion of the transaction, the executive vice president now directly owns 166,502 shares of the company’s stock, valued at $7,995,426.04. The disclosure for this sale can be found here. Company insiders own 5.53% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Shikiar Asset Management Inc. raised its holdings in Gaming and Leisure Properties by 5.5% in the 4th quarter. Shikiar Asset Management Inc. now owns 78,303 shares of the real estate investment trust’s stock valued at $3,320,000 after acquiring an additional 4,106 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in shares of Gaming and Leisure Properties in the 4th quarter valued at $3,919,000. Victory Capital Management Inc. increased its stake in shares of Gaming and Leisure Properties by 7.3% in the 4th quarter. Victory Capital Management Inc. now owns 175,230 shares of the real estate investment trust’s stock valued at $7,430,000 after purchasing an additional 11,970 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Gaming and Leisure Properties by 17.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 61,585 shares of the real estate investment trust’s stock valued at $2,611,000 after purchasing an additional 9,016 shares during the last quarter. Finally, Applied Fundamental Research LLC bought a new position in shares of Gaming and Leisure Properties in the 4th quarter valued at $8,594,000. 88.48% of the stock is owned by hedge funds and other 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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Analyst Recommendations for Gaming and Leisure Properties (NASDAQ:GLPI)

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