Gaming and Leisure Properties, Inc. (GLPI) to Issue Quarterly Dividend of $0.78 on June 27th

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) declared a quarterly dividend on Friday, May 16th, RTT News reports. Shareholders of record on Friday, June 13th will be paid a dividend of 0.78 per share by the real estate investment trust on Friday, June 27th. This represents a $3.12 dividend on an annualized basis and a yield of 6.55%. This is a 2.6% increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.76.

Gaming and Leisure Properties has increased its dividend payment by an average of 4.1% annually over the last three years and has increased its dividend every year for the last 2 years. Gaming and Leisure Properties has a payout ratio of 98.4% 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 opened at $47.61 on Friday. Gaming and Leisure Properties has a 12-month low of $42.86 and a 12-month high of $52.60. The business has a 50-day simple moving average of $48.55 and a two-hundred day simple moving average of $48.91. 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 cap of $13.08 billion, a PE ratio of 16.59, a PEG ratio of 2.01 and a beta of 0.81.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.96. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. The business had revenue of $395.24 million during the quarter, compared to analysts’ expectations of $396.27 million. During the same quarter in the prior year, the firm earned $0.92 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts anticipate that Gaming and Leisure Properties will post 3.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $49.72, for a total value of $248,600.00. Following the transaction, the director now owns 145,953 shares in the company, valued at approximately $7,256,783.16. This represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Matthew Demchyk sold 1,138 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $50.45, for a total value of $57,412.10. Following the completion of the transaction, the senior vice president now owns 53,002 shares in the company, valued at approximately $2,673,950.90. The trade was a 2.10% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,842 shares of company stock worth $1,153,961. Corporate insiders own 4.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on GLPI. Mizuho upped their price target on Gaming and Leisure Properties from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Barclays upped their price target on Gaming and Leisure Properties from $53.00 to $54.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 22nd. Scotiabank reduced their price target on Gaming and Leisure Properties from $49.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Monday, May 12th. Royal Bank of Canada reduced their price target on Gaming and Leisure Properties from $56.00 to $54.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Finally, Macquarie reiterated an “outperform” rating and issued a $60.00 price target on shares of Gaming and Leisure Properties in a research report on Friday, April 25th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.63.

About Gaming and Leisure Properties

Gaming & Leisure Properties, Inc engages in the provision of 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.