Gaming and Leisure Properties (NASDAQ:GLPI) Downgraded by StockNews.com

StockNews.com downgraded shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a buy rating to a hold rating in a research report report published on Thursday morning.

Other research analysts have also recently issued reports about the company. Morgan Stanley lowered their target price on Gaming and Leisure Properties from $55.00 to $53.00 and set an overweight rating on the stock in a report on Thursday, March 21st. JMP Securities restated a market outperform rating and issued a $53.00 target price on shares of Gaming and Leisure Properties in a report on Monday, March 4th. Mizuho cut their target price on Gaming and Leisure Properties from $50.00 to $47.00 and set a neutral rating for the company in a research note on Thursday, March 7th. Finally, Royal Bank of Canada lowered their price target on shares of Gaming and Leisure Properties from $49.00 to $47.00 and set an outperform rating on the stock in a research report on Monday, April 29th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $51.82.

Gaming and Leisure Properties Price Performance

Shares of GLPI traded up $0.06 during trading hours on Thursday, hitting $44.27. 877,657 shares of the stock were exchanged, compared to its average volume of 1,365,939. The stock’s 50-day moving average price is $44.50 and its two-hundred day moving average price is $45.70. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $50.59. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.47 and a current ratio of 6.47. The company has a market cap of $12.02 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 5.21 and a beta of 0.94.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). The business had revenue of $376.00 million for the quarter, compared to analysts’ expectations of $368.44 million. Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. Gaming and Leisure Properties’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 EPS. Research analysts expect that Gaming and Leisure Properties will post 3.66 earnings per share for the current year.

Gaming and Leisure Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 6.87%. The ex-dividend date was Thursday, March 14th. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 112.18%.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director E Scott Urdang purchased 2,500 shares of the stock in a transaction dated Friday, March 1st. The stock was acquired at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the completion of the transaction, the director now directly owns 156,685 shares in the company, valued at approximately $7,050,825. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 4.40% of the stock is owned by corporate 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 GLPI. International Assets Investment Management LLC purchased a new position in Gaming and Leisure Properties in the fourth quarter valued at $2,501,000. GraniteShares Advisors LLC purchased a new position in shares of Gaming and Leisure Properties in the 4th quarter valued at about $1,473,000. Pacer Advisors Inc. raised its position in shares of Gaming and Leisure Properties by 107.4% during the 4th quarter. Pacer Advisors Inc. now owns 45,803 shares of the real estate investment trust’s stock worth $2,260,000 after acquiring an additional 23,722 shares in the last quarter. Signature Wealth Management Group purchased a new stake in Gaming and Leisure Properties during the fourth quarter worth approximately $3,944,000. Finally, Louisiana State Employees Retirement System acquired a new position in Gaming and Leisure Properties in the fourth quarter valued at approximately $3,701,000. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Company Profile

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.