Why Has JMP Securities Given Gaming and Leisure Properties (NYSE:GLPI) a $32.00 Price Target
New York: Gaming and Leisure Properties (NYSE:GLPI) coverage has been initiated with a key ‘Market Outperform’ rating as well as a $32.00 target price per share at JMP Securities. The PT by JMP Securities may imply upside of 23.22% from the previous stock close.
Approximately 776,538 shares of stock traded hands or 10.72% up from the average. Gaming and Leisure Properties Inc (NYSE:GLPI) has declined 28.90% since May 12, 2015 and is downtrending. It has underperformed by 25.23% the S&P500.
The overall sentiment of institutions has increased to 1.41 in Q2 2015. Its up 0.04, from 1.37 in 2015Q2. The ratio is positive, as 24 institutions have sold all the shares of Gaming and Leisure Properties Inc that they owned while 55 funds have taken shares off the table. 31 funds have purchased shares for the first time while 80 added to their positions. These institutions now hold 112.46 million shares or 15.85% more than the 97.08 million shares they owned in 2015Q2.
The Fund Hanlon Investment Management Inc. currently is holding shares equating to 24.63% of its total portfolio in Gaming and Leisure Properties Inc representing a total of 427,765 shares. Another fund,Addison Clark Management L.L.C., is holding a total of 437,032 shares equating to 11.6% of their holdings. Additionally, Gates Capital Management Inc. has a 6.02 million share stake in Gaming and Leisure Properties Inc which represents 6.91% of their total portfolio. The Fund, Covalent Partners Llc, based out of Massachusetts, has also built up a stake in the stock, which represents a total of 5.47% of their total portfolio. Finally Goodnow Investment Group Llc, a fund which is based in the state of Connecticut reported a total holdings of 906,139 shares.
Insider activity is a very important aspect to track on any stock. Going back to October 6, 2015, shareholders of Gaming and Leisure Properties Inc have witnessed 0 insider buys, and a total of 5 sales equating to a net activity of approximately $8.01 million . Carlino Peter M sold 41,286 shares worth approximately $1.25M. Clifford William J sold 100,000 shares worth approximately $3.02M.
Gaming and Leisure Properties, Inc. is a self-administered and self-managed real estate investment trust (REIT). The company has a market cap of $2.99 billion. The Firm is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple net lease arrangements. It has 24.12 P/E ratio. Triple net leases are leases, in which the lessee pays rent to the lessor, as well as all taxes, insurance, and maintenance expenses that arise from the use of the property.
According to Zacks Investment Research, “Gaming and Leisure Properties, Inc. is a self-administered, self-managed REIT primarily engaged in the property business, which will consist of owning, acquiring, developing, expanding, managing, and leasing gaming and related facilities. Gaming and Leisure Properties, Inc. is based in United States.”