Gaming and Leisure, the Real Estate sector company, was revisited by a Wall Street analyst today. Analyst Ronald Kamdem from Morgan Stanley maintained a Hold rating on the stock and has a $52.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Ronald Kamdem’s rating is based on a combination of factors that reflect both the strengths and challenges facing Gaming and Leisure Properties Inc. The company’s recent financial performance showed a slight miss in Adjusted Funds From Operations (AFFO) compared to consensus estimates, which may have contributed to a more cautious outlook. Despite this, the company raised its AFFO guidance in line with expectations and increased its dividend by 2.6%, indicating some level of confidence in its future cash flow generation.
Additionally, the company’s investment activities, such as the transfer of properties to Bally’s Master Lease II and the planned funding for the relocation of Hollywood Casino Joliet, suggest ongoing strategic developments. However, uncertainties surrounding the Bally’s Chicago development and the potential financial support for new casino licenses in New York may have led to a more conservative Hold rating. These factors, combined with the company’s stable occupancy rates and manageable debt levels, suggest a balanced view of potential risks and opportunities.
In another report released on July 21, Barclays also maintained a Hold rating on the stock with a $55.00 price target.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GLPI in relation to earlier this year.