Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Get Free Report) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 3,980,000 shares, a decline of 8.9% from the January 15th total of 4,370,000 shares. Based on an average daily volume of 1,120,000 shares, the days-to-cover ratio is presently 3.6 days.
Gaming and Leisure Properties Price Performance
Shares of NASDAQ GLPI traded down $0.28 during mid-day trading on Friday, reaching $49.11. 2,111,103 shares of the company were exchanged, compared to its average volume of 1,017,250. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $13.47 billion, a PE ratio of 17.17, a PEG ratio of 1.99 and a beta of 0.99. The company's 50 day moving average price is $48.16 and its 200 day moving average price is $49.76. Gaming and Leisure Properties has a 52 week low of $41.80 and a 52 week high of $52.60.
Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.01. The business had revenue of $389.62 million for the quarter, compared to analysts' expectations of $391.54 million. Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. Sell-side analysts forecast that Gaming and Leisure Properties will post 3.67 earnings per share for the current fiscal year.
Gaming and Leisure Properties Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.76 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.04 annualized dividend and a yield of 6.19%. Gaming and Leisure Properties's payout ratio is presently 106.29%.
Wall Street Analysts Forecast Growth
GLPI has been the topic of a number of research analyst reports. Morgan Stanley downgraded Gaming and Leisure Properties from an "overweight" rating to an "equal weight" rating and set a $53.00 price target on the stock. in a report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft raised Gaming and Leisure Properties from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $49.00 to $54.00 in a research report on Wednesday, November 20th. Stifel Nicolaus upped their price target on Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a "buy" rating in a report on Tuesday, November 26th. JMP Securities reissued a "market outperform" rating and issued a $55.00 target price on shares of Gaming and Leisure Properties in a report on Wednesday, December 18th. Finally, Scotiabank decreased their price target on Gaming and Leisure Properties from $50.00 to $49.00 and set a "sector perform" rating on the stock in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.93.
Read Our Latest Stock Analysis on GLPI
Insider Activity at Gaming and Leisure Properties
In other news, COO Brandon John Moore sold 3,982 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $47.84, for a total value of $190,498.88. Following the sale, the chief operating officer now owns 278,634 shares of the company's stock, valued at approximately $13,329,850.56. The trade was a 1.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Matthew Demchyk sold 1,149 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $47.80, for a total value of $54,922.20. Following the sale, the senior vice president now directly owns 91,620 shares in the company, valued at $4,379,436. This trade represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,222 shares of company stock worth $1,624,947 in the last 90 days. 4.37% of the stock is currently owned by company insiders.
Institutional Trading of Gaming and Leisure Properties
Hedge funds and other institutional investors have recently modified their holdings of the company. Segall Bryant & Hamill LLC purchased a new position in Gaming and Leisure Properties during the third quarter valued at $693,000. Sanctuary Advisors LLC increased its position in Gaming and Leisure Properties by 76.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 32,316 shares of the real estate investment trust's stock valued at $1,646,000 after purchasing an additional 13,965 shares during the period. Zacks Investment Management increased its position in Gaming and Leisure Properties by 10.9% during the 3rd quarter. Zacks Investment Management now owns 522,197 shares of the real estate investment trust's stock valued at $26,867,000 after purchasing an additional 51,398 shares during the period. Cerity Partners LLC increased its position in Gaming and Leisure Properties by 87.5% during the 3rd quarter. Cerity Partners LLC now owns 14,410 shares of the real estate investment trust's stock valued at $741,000 after purchasing an additional 6,724 shares during the period. Finally, Merit Financial Group LLC purchased a new position in shares of Gaming and Leisure Properties in the 4th quarter worth approximately $526,000. 91.14% of the stock is owned by hedge funds and other institutional investors.
About Gaming and Leisure Properties
(
Get Free Report)
Gaming & Leisure Properties, Inc engages in acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.
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