Mizuho Cuts Gaming and Leisure Properties (NASDAQ:GLPI) Price Target to $46.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its price objective decreased by equities research analysts at Mizuho from $47.00 to $46.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price objective indicates a potential upside of 4.05% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada cut their target price on Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Morgan Stanley cut their price objective on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. StockNews.com cut Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $53.00 price target on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.82.

Gaming and Leisure Properties Price Performance

Shares of GLPI opened at $44.21 on Friday. The firm has a market capitalization of $12.00 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 5.08 and a beta of 0.95. The stock’s fifty day moving average is $44.52 and its 200-day moving average is $45.70. Gaming and Leisure Properties has a one year low of $41.80 and a one year high of $51.31. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.47 and a current ratio of 6.47.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Friday, April 26th. The real estate investment trust reported $0.64 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.26). The company had revenue of $376.00 million for the quarter, compared to analyst estimates of $368.44 million. Gaming and Leisure Properties had a net margin of 50.05% and a return on equity of 16.79%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 EPS. Equities analysts anticipate that Gaming and Leisure Properties will post 3.66 EPS for the current year.

Insider Transactions at Gaming and Leisure Properties

In other news, Director E Scott Urdang bought 2,500 shares of the business’s stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $45.00 per share, with a total value of $112,500.00. Following the purchase, the director now directly owns 156,685 shares in the company, valued at $7,050,825. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gaming and Leisure Properties

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Gaming and Leisure Properties by 1.5% in the third quarter. Vanguard Group Inc. now owns 37,572,599 shares of the real estate investment trust’s stock worth $1,711,432,000 after purchasing an additional 555,332 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Gaming and Leisure Properties by 40.8% during the 4th quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust’s stock valued at $627,204,000 after buying an additional 3,684,553 shares during the period. Putnam Investments LLC grew its holdings in shares of Gaming and Leisure Properties by 3.1% during the 4th quarter. Putnam Investments LLC now owns 9,511,521 shares of the real estate investment trust’s stock valued at $469,394,000 after acquiring an additional 282,828 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Gaming and Leisure Properties by 1.7% in the fourth quarter. Principal Financial Group Inc. now owns 8,921,163 shares of the real estate investment trust’s stock worth $440,259,000 after acquiring an additional 150,055 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Gaming and Leisure Properties by 5.6% during the third quarter. FMR LLC now owns 6,436,482 shares of the real estate investment trust’s stock worth $293,182,000 after acquiring an additional 340,784 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors and hedge funds.

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.