Gaming and Leisure Properties (NASDAQ:GLPI - Free Report) had its price objective trimmed by Royal Bank of Canada from $57.00 to $56.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the real estate investment trust's stock.
Several other brokerages have also weighed in on GLPI. Morgan Stanley lowered Gaming and Leisure Properties from an "overweight" rating to an "equal weight" rating and set a $53.00 price target for the company. in a research note on Wednesday, January 15th. StockNews.com downgraded Gaming and Leisure Properties from a "buy" rating to a "hold" rating in a research note on Monday, October 28th. Stifel Nicolaus increased their target price on 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. Mizuho cut their price target on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a "neutral" rating for the company in a report on Thursday, November 14th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $55.00 price objective on shares of Gaming and Leisure Properties in a 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $54.15.
Read Our Latest Report on Gaming and Leisure Properties
Gaming and Leisure Properties Stock Performance
GLPI stock traded up $0.12 during trading on Monday, hitting $49.92. 1,067,587 shares of the company traded hands, compared to its average volume of 1,188,580. Gaming and Leisure Properties has a 1 year low of $41.80 and a 1 year high of $52.60. The company has a market cap of $13.72 billion, a PE ratio of 17.39, a P/E/G ratio of 2.01 and a beta of 0.99. The stock's 50-day simple moving average is $48.25 and its 200 day simple moving average is $49.77. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35.
Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.01. The firm had revenue of $389.62 million during the quarter, compared to analysts' expectations of $391.54 million. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. On average, equities analysts expect that Gaming and Leisure Properties will post 3.81 earnings per share for the current fiscal year.
Gaming and Leisure Properties Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 6.09%. The ex-dividend date of this dividend is Friday, March 14th. Gaming and Leisure Properties's dividend payout ratio (DPR) is presently 105.92%.
Insider Transactions at Gaming and Leisure Properties
In other news, COO Brandon John Moore sold 3,982 shares of the firm's stock in a transaction that occurred on 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 owns 278,634 shares of the company's stock, valued at approximately $13,329,850.56. This trade represents a 1.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Matthew Demchyk sold 1,149 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $47.80, for a total transaction of $54,922.20. Following the sale, the senior vice president now directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 38,222 shares of company stock worth $1,873,547. 4.37% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Gaming and Leisure Properties
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning increased its position in shares of Gaming and Leisure Properties by 22.0% in the 3rd quarter. Creative Planning now owns 15,737 shares of the real estate investment trust's stock valued at $810,000 after purchasing an additional 2,841 shares during the last quarter. Signaturefd LLC lifted its holdings in Gaming and Leisure Properties by 24.4% during the 3rd quarter. Signaturefd LLC now owns 3,342 shares of the real estate investment trust's stock worth $172,000 after buying an additional 656 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Gaming and Leisure Properties by 9.2% during the 3rd quarter. Private Advisor Group LLC now owns 13,646 shares of the real estate investment trust's stock worth $702,000 after acquiring an additional 1,152 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Gaming and Leisure Properties by 5,015.8% in the 3rd quarter. International Assets Investment Management LLC now owns 53,511 shares of the real estate investment trust's stock valued at $2,753,000 after acquiring an additional 52,465 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Gaming and Leisure Properties by 31.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,807 shares of the real estate investment trust's stock worth $599,000 after acquiring an additional 2,838 shares in the last quarter. Hedge funds and other institutional investors own 91.14% of the company's stock.
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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