Gaming and Leisure Properties (NASDAQ:GLPI) Hits New 52-Week Low at $42.12

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $42.12 and last traded at $42.16, with a volume of 122053 shares. The stock had previously closed at $42.81.

Analyst Ratings Changes

Several research firms have recently commented on GLPI. JMP Securities restated a “market outperform” rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Mizuho dropped their price target on Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, March 7th. Morgan Stanley dropped their price objective on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, March 21st. Finally, Royal Bank of Canada dropped their price objective on Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.09.

Gaming and Leisure Properties Stock Down 1.4 %

The firm has a 50 day moving average price of $45.27 and a two-hundred day moving average price of $46.05. The firm has a market capitalization of $11.46 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 5.37 and a beta of 0.94. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.48.

Gaming and Leisure Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 annualized dividend and a yield of 7.20%. Gaming and Leisure Properties’s payout ratio is 109.75%.

Insider Buying and Selling

In related news, Director E Scott Urdang purchased 2,500 shares of Gaming and Leisure Properties stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average cost of $45.00 per share, with a total value of $112,500.00. Following the transaction, the director now owns 156,685 shares of the company’s stock, valued at approximately $7,050,825. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gaming and Leisure Properties

Hedge funds and other institutional investors have recently bought and sold shares of the business. Atlas Capital Advisors LLC increased its holdings in Gaming and Leisure Properties by 203.0% during the 1st quarter. Atlas Capital Advisors LLC now owns 512 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 343 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Gaming and Leisure Properties during the 4th quarter worth approximately $30,000. Operose Advisors LLC bought a new stake in shares of Gaming and Leisure Properties in the 3rd quarter valued at approximately $32,000. EdgeRock Capital LLC bought a new stake in shares of Gaming and Leisure Properties in the 4th quarter valued at approximately $33,000. Finally, Mather Group LLC. bought a new stake in shares of Gaming and Leisure Properties in the 1st quarter valued at approximately $42,000. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

About Gaming and Leisure Properties

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.