Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Get Free Report)’s share price passed above its 50 day moving average during trading on Wednesday after Piper Sandler upgraded the stock to a buy rating. The stock has a 50 day moving average of $39.67 and traded as high as $39.95. Gaming and Leisure Properties shares last traded at $39.83, with a volume of 3,119,336 shares changing hands.
Several other research firms also recently weighed in on GLPI. Mizuho reduced their target price on shares of Gaming and Leisure Properties from $53.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, September 2nd. Royal Bank Of Canada dropped their price target on shares of Gaming and Leisure Properties from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Monday, August 3rd. Barclays dropped their price target on shares of Gaming and Leisure Properties from $53.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. downgraded shares of Gaming and Leisure Properties from an “overweight” rating to a “neutral” rating and set a $46.00 price objective for the company. in a report on Thursday, September 24th. Finally, Weiss Ratings lowered shares of Gaming and Leisure Properties from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 12th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $47.36.
Get Our Latest Analysis on Gaming and Leisure Properties
Insiders Place Their Bets
In related news, Director Earl C. Shanks bought 10,000 shares of Gaming and Leisure Properties stock in a transaction on Tuesday, August 18th. The stock was acquired at an average price of $42.24 per share, with a total value of $422,400.00. Following the acquisition, the director directly owned 107,259 shares of the company’s stock, valued at $4,530,620.16. This represents a 10.28% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.11% of the stock is owned by insiders.
Institutional Investors Weigh In On Gaming and Leisure Properties
Several hedge funds have recently bought and sold shares of GLPI. BlackRock Inc. purchased a new stake in shares of Gaming and Leisure Properties during the 2nd quarter valued at $1,596,811,000. State Street Corp lifted its holdings in shares of Gaming and Leisure Properties by 2.3% during the 2nd quarter. State Street Corp now owns 13,477,304 shares of the real estate investment trust’s stock worth $600,144,000 after acquiring an additional 305,154 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Gaming and Leisure Properties by 21.7% during the 1st quarter. Jennison Associates LLC now owns 4,378,409 shares of the real estate investment trust’s stock worth $194,270,000 after acquiring an additional 781,198 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Gaming and Leisure Properties by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 4,160,855 shares of the real estate investment trust’s stock worth $184,614,000 after acquiring an additional 67,652 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in Gaming and Leisure Properties in the second quarter worth $151,300,000. 91.14% of the stock is currently owned by institutional investors.
Gaming and Leisure Properties Trading Up 1.7%
The firm has a market cap of $11.59 billion, a P/E ratio of 12.18, a PEG ratio of 2.00 and a beta of 0.64. The company has a debt-to-equity ratio of 1.52, a current ratio of 5.38 and a quick ratio of 5.38. The stock has a 50 day moving average of $39.67 and a 200 day moving average of $44.41.
Gaming and Leisure Properties (NASDAQ:GLPI – Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). Gaming and Leisure Properties had a return on equity of 18.16% and a net margin of 55.71%. The firm had revenue of $435.45 million for the quarter, compared to the consensus estimate of $436.30 million. During the same period last year, the firm earned $0.97 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities research analysts predict that Gaming and Leisure Properties, Inc. will post 4.03 EPS for the current year.
Gaming and Leisure Properties Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date of this dividend was Friday, September 11th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 100.31%.
About Gaming and Leisure Properties
Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust that owns and leases gaming and entertainment properties. The company primarily operates as a landlord, generating rental income through long-term agreements with casino operators rather than directly managing most of the gaming facilities located on its properties.
GLPI’s portfolio includes casinos, resorts, racetracks and related entertainment facilities across the United States. Its leases are generally structured as triple-net agreements, under which tenants are typically responsible for property-level expenses such as maintenance, insurance and real estate taxes.
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