Gaming and Leisure Properties, Inc. Plans Quarterly Dividend of $0.76 (NASDAQ:GLPI)

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Get Free Report) announced a quarterly dividend on Thursday, February 13th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.76 per share by the real estate investment trust on Friday, March 28th. This represents a $3.04 annualized dividend and a dividend yield of 6.14%. The ex-dividend date is Friday, March 14th.

Gaming and Leisure Properties has raised its dividend by an average of 4.1% per year over the last three years. Gaming and Leisure Properties has a payout ratio of 99.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Research analysts expect Gaming and Leisure Properties to earn $3.98 per share next year, which means the company should continue to be able to cover its $3.04 annual dividend with an expected future payout ratio of 76.4%.

Gaming and Leisure Properties Price Performance

Shares of GLPI stock traded up $0.65 during trading hours on Tuesday, hitting $49.50. The company's stock had a trading volume of 1,603,693 shares, compared to its average volume of 1,052,355. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. Gaming and Leisure Properties has a twelve month low of $41.80 and a twelve month high of $52.60. The stock has a market cap of $13.58 billion, a price-to-earnings ratio of 17.25, a P/E/G ratio of 2.01 and a beta of 0.99. The business has a fifty day moving average of $48.13 and a 200-day moving average of $49.77.

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Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.01. The firm had revenue of $389.62 million for the quarter, compared to analysts' expectations of $391.54 million. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. As a group, equities research analysts anticipate that Gaming and Leisure Properties will post 3.81 EPS for the current year.

Insider Buying and Selling at Gaming and Leisure Properties

In related news, SVP Matthew Demchyk sold 1,149 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $47.80, for a total value of $54,922.20. Following the transaction, the senior vice president now owns 91,620 shares in the company, valued at approximately $4,379,436. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Brandon John Moore sold 3,982 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $47.84, for a total value of $190,498.88. Following the completion of the transaction, the chief operating officer now directly owns 278,634 shares of the company's stock, valued at $13,329,850.56. This represents a 1.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,222 shares of company stock valued at $1,624,947 in the last ninety days. Insiders own 4.37% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GLPI shares. JPMorgan Chase & Co. raised Gaming and Leisure Properties from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $49.00 to $54.00 in a research report on Friday, December 13th. Morgan Stanley cut Gaming and Leisure Properties from an "overweight" rating to an "equal weight" rating and set a $53.00 target price for the company. in a report on Wednesday, January 15th. Royal Bank of Canada cut their price target on shares of Gaming and Leisure Properties from $57.00 to $56.00 and set an "outperform" rating on the stock in a report on Monday. Stifel Nicolaus lifted their price target on shares of Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Finally, JMP Securities reissued a "market outperform" rating and issued a $55.00 price objective on shares of Gaming and Leisure Properties in a research report on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $54.15.

Gaming and Leisure Properties Company Profile

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.