Gaming and Leisure Properties (NASDAQ:GLPI – Free Report) had its target price decreased by Cantor Fitzgerald from $48.00 to $42.00 in a report issued on Wednesday morning,Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the real estate investment trust’s stock.
GLPI has been the topic of several other reports. Piper Sandler upgraded Gaming and Leisure Properties to a “buy” rating in a research report on Friday, October 2nd. JPMorgan Chase & Co. lowered 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 research report on Thursday, September 24th. Barclays reduced their price objective on shares of Gaming and Leisure Properties from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Tuesday, October 20th. Raymond James Financial reaffirmed an “outperform” rating and set a $47.00 price objective on shares of Gaming and Leisure Properties in a research note on Thursday, August 13th. Finally, Scotiabank decreased their target price on shares of Gaming and Leisure Properties from $49.00 to $43.00 and set a “sector perform” rating on the stock in a report on Thursday, September 24th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $47.36.
View Our Latest Analysis on Gaming and Leisure Properties
Gaming and Leisure Properties Stock Performance
Shares of NASDAQ GLPI traded down $0.55 during mid-day trading on Wednesday, hitting $38.89. The company had a trading volume of 2,581,857 shares, compared to its average volume of 2,455,190. The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 1.52. Gaming and Leisure Properties has a 1 year low of $37.33 and a 1 year high of $49.95. The company has a market capitalization of $11.31 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 1.64 and a beta of 0.64. The stock’s 50-day moving average price is $39.54 and its 200-day moving average price is $44.34.
Gaming and Leisure Properties (NASDAQ:GLPI – Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The company had revenue of $435.45 million for the quarter, compared to analysts’ expectations of $436.30 million. Gaming and Leisure Properties had a return on equity of 18.16% and a net margin of 55.71%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the company posted $0.97 EPS. On average, sell-side analysts forecast that Gaming and Leisure Properties will post 4.02 earnings per share for the current year.
Gaming and Leisure Properties Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 8.4%. The ex-dividend date was Friday, September 11th. Gaming and Leisure Properties’s dividend payout ratio is currently 100.31%.
Insiders Place Their Bets
In other Gaming and Leisure Properties news, Director Earl C. Shanks purchased 10,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were purchased 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 in the company, valued at approximately $4,530,620.16. The trade was a 10.28% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.11% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the business. Pension & Wealth Management Advisors Inc. purchased a new stake in Gaming and Leisure Properties in the third quarter valued at approximately $29,000. Mather Group LLC. grew its stake in Gaming and Leisure Properties by 54.2% in the 3rd quarter. Mather Group LLC. now owns 799 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 281 shares in the last quarter. Root Financial Partners LLC purchased a new position in Gaming and Leisure Properties in the 3rd quarter worth approximately $30,000. Richardson Financial Services Inc. bought a new position in shares of Gaming and Leisure Properties in the 3rd quarter worth $31,000. Finally, Markowski Investments bought a new position in shares of Gaming and Leisure Properties in the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 91.14% of the company’s stock.
Gaming and Leisure Properties Company Profile
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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