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

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Get Free Report) declared a quarterly dividend on Wednesday, August 28th, Zacks reports. Shareholders of record on Friday, September 13th will be given a dividend of 0.76 per share by the real estate investment trust on Friday, September 27th. This represents a $3.04 dividend on an annualized basis and a yield of 5.84%. The ex-dividend date is Friday, September 13th.

Gaming and Leisure Properties has increased its dividend by an average of 5.8% annually over the last three years. Gaming and Leisure Properties has a payout ratio of 99.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Equities research analysts expect Gaming and Leisure Properties to earn $3.78 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 80.4%.

Gaming and Leisure Properties Stock Up 1.4 %

Shares of GLPI traded up $0.74 during trading on Friday, reaching $52.02. The company's stock had a trading volume of 2,201,896 shares, compared to its average volume of 1,335,723. The company has a fifty day moving average of $48.01 and a two-hundred day moving average of $45.81. Gaming and Leisure Properties has a twelve month low of $41.80 and a twelve month high of $52.13. The company has a market cap of $14.12 billion, a price-to-earnings ratio of 19.02, a P/E/G ratio of 5.14 and a beta of 0.98. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.49.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.15). Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The firm had revenue of $380.60 million for the quarter, compared to analyst estimates of $377.95 million. During the same period in the prior year, the company posted $0.92 earnings per share. The business's revenue was up 6.7% on a year-over-year basis. On average, sell-side analysts predict that Gaming and Leisure Properties will post 3.67 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. UBS Group increased their target price on Gaming and Leisure Properties from $56.00 to $61.00 and gave the stock a "buy" rating in a research report on Tuesday, July 16th. StockNews.com raised Gaming and Leisure Properties from a "hold" rating to a "buy" rating in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft raised their target price on Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a "hold" rating in a research note on Monday, July 29th. Morgan Stanley reaffirmed an "overweight" rating and set a $53.00 target price on shares of Gaming and Leisure Properties in a research note on Friday, June 21st. Finally, Wolfe Research raised Gaming and Leisure Properties from a "peer perform" rating to an "outperform" rating and set a $57.00 target price for the company in a research note on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Gaming and Leisure Properties has a consensus rating of "Moderate Buy" and an average target price of $52.11.

Insider Activity at Gaming and Leisure Properties

In related news, COO Brandon John Moore sold 30,900 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $50.05, for a total value of $1,546,545.00. Following the completion of the transaction, the chief operating officer now owns 208,977 shares in the company, valued at approximately $10,459,298.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Brandon John Moore sold 30,900 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $50.05, for a total value of $1,546,545.00. Following the completion of the sale, the chief operating officer now directly owns 208,977 shares of the company's stock, valued at approximately $10,459,298.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director E Scott Urdang sold 5,605 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the completion of the sale, the director now directly owns 156,685 shares of the company's stock, valued at $7,660,329.65. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by corporate insiders.

Gaming and Leisure Properties Company Profile

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.