The Vanguard Group, Inc. recently announced the acquisition of new stake in Gaming and Leisure Properties Inc. (NASDAQ:GLPI). The institutional investor has increased its shareholding in the Real Estate company by 1.21% to 36.06 million shares with purchase of 0.43 million shares. This fresh investment now brings its stake to 14.00% valued currently at $1.94 billion. In addition, Capital Research & Management Co raised its holdings by 20914.0 to 17.88 million shares. And BlackRock Fund Advisors has lifted its position by 11.50% or 1.32 million shares – to 12.78 million shares.
With over 1.81 million Gaming and Leisure Properties Inc. (GLPI) shares trading Monday and a closing price of $50.43 on the day, the dollar volume was approximately $91.17 million. The shares have shown a positive half year performance of 1.37% and its price on 03/13/23 lost nearly -0.14%. Currently, there are 259.13M common shares owned by the public and among those 246.04M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 19 analysts who have offered their price forecasts for GLPI have a consensus price objective of $56.76. The analysts have set the share’s price value over the next 12 months at a high of $61.00 and a low of $50.00. The average price target is 11.09% above its recent price level and a downside to the estimated low will see the stock lose -0.86% over that period. But an upside of 17.33% will see the stock hit the forecast high price target while median target price for the stock is $57.00.
Insiders at the company have transacted a total of 72 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 652,288 shares. Insider sales of the common stock occurred on 45 occasions, with total insider shares sold totaling 570,746 shares.
The top 3 mutual fund holders in Gaming and Leisure Properties Inc. are Vanguard Real Estate Index Fund, American Funds Income Fund of Ame, and Capital Income Builder. Vanguard Real Estate Index Fund owns 11.45 million shares of the company’s stock, all valued at over $617.01 million. The company sold 3485.0 shares recently to bring their total holdings to about 4.45% of the shares outstanding. American Funds Income Fund of Ame sold -0.51 million shares to see its total holdings shrink to 10.79 million shares valued at over $581.58 million and representing 4.19% of the shares outstanding. Capital Income Builder now owns shares totaling to 3.21% of the shares outstanding.
Shares of Gaming and Leisure Properties Inc. (NASDAQ: GLPI) opened at $50.00, down -$0.5 from a prior closing price of $50.50. However, the script later moved the day high at 50.69, down -0.14%. The company’s stock has a 5-day price change of -7.14% and -2.46% over the past three months. GLPI shares are trading -2.74% year to date (YTD), with the 12-month market performance up to 12.43% higher. It has a 12-month low price of $41.78 and touched a high of $54.88 over the same period. GLPI has an average intraday trading volume of 1.13 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.01%, -4.04%, and 1.46% respectively.
Institutional ownership of Gaming and Leisure Properties Inc. (NASDAQ: GLPI) shares accounts for 92.20% of the company’s 259.13M shares outstanding. Mutual fund holders own 35.51%, while other institutional holders and individual stakeholders account for 60.10% and 26.66% respectively.
It has a market capitalization of $13.54B and a beta (3y monthly) value of 1.03. The stock’s trailing 12-month PE ratio is 18.97, while the earnings-per-share (ttm) stands at $2.66. The company has a PEG of 2.26 and the debt-to-equity ratio at 1.64. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.31% over the week and 1.72% over the month.
Analysts forecast that Gaming and Leisure Properties Inc. (GLPI) will achieve an EPS of $0.64 for the current quarter, $0.67 for the next quarter and $2.72 for 2023. The lowest estimate earnings-per-share for the quarter is $0.59 while analysts give the company a high EPS estimate of $0.68. Comparatively, EPS for the current quarter was $0.49 a year ago. Earnings per share for the fiscal year are expected to increase by 19.30%, and 3.37% over the next financial year. EPS should shrink at an annualized rate of 8.41% over the next five years, compared to 9.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 19 brokerage firm advisors rate Gaming and Leisure Properties Inc. (GLPI) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 13 Wall Street analysts polled rate the stock as a buy, while 3 of the 19 advise that investors “hold,” and 0 rated it as a “Sell.”
Truist coverage for the Gaming and Leisure Properties Inc. (GLPI) stock in a research note released on January 11, 2023 offered a Buy rating with a price target of $60. Raymond James was of a view on January 09, 2023 that the stock is Outperform, while JMP Securities gave the stock Mkt Outperform rating on September 23, 2022, issuing a price target of $53. RBC Capital Mkts on their part issued Outperform rating on September 19, 2022.
