Gaming and Leisure Properties Inc. (NASDAQ:GLPI) has been assigned a consensus rating of “Buy” from the ten analysts that are covering the firm. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $34.63.
GLPI has been the topic of several recent research reports. Morgan Stanley upgraded Gaming and Leisure Properties from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $36.00 to $38.00 in a research report on Wednesday, September 7th. Zacks Investment Research upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Thursday, August 11th. Wells Fargo & Co. reiterated a “buy” rating on shares of Gaming and Leisure Properties in a research report on Friday, June 10th. Finally, Deutsche Bank AG increased their price objective on Gaming and Leisure Properties from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th.
Gaming and Leisure Properties (NASDAQ:GLPI) traded up 0.56% on Tuesday, hitting $33.99. The company had a trading volume of 554,404 shares. The firm has a 50-day moving average price of $34.23 and a 200-day moving average price of $33.46. The firm has a market capitalization of $6.97 billion, a PE ratio of 27.24 and a beta of 1.01. Gaming and Leisure Properties has a 12-month low of $24.21 and a 12-month high of $35.98.
Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by $0.33. The business earned $207.36 million during the quarter, compared to the consensus estimate of $211.68 million. Gaming and Leisure Properties had a net margin of 26.72% and a return on equity of 41.29%. The firm’s revenue was up 38.4% on a year-over-year basis. During the same quarter last year, the company posted $0.66 EPS. On average, equities research analysts anticipate that Gaming and Leisure Properties will post $2.95 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Monday, September 12th were issued a dividend of $0.60 per share. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a dividend yield of 7.10%. The ex-dividend date of this dividend was Thursday, September 8th. Gaming and Leisure Properties’s dividend payout ratio is 200.00%.
In related news, CFO William J. Clifford sold 157,241 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $34.78, for a total value of $5,468,841.98. Following the sale, the chief financial officer now directly owns 293,069 shares of the company’s stock, valued at $10,192,939.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Brandon John Moore sold 13,216 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $35.00, for a total value of $462,560.00. Following the completion of the sale, the senior vice president now directly owns 43,514 shares in the company, valued at $1,522,990. The disclosure for this sale can be found here. Insiders own 22.36% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in GLPI. Nomura Asset Management Co. Ltd. raised its stake in Gaming and Leisure Properties by 5.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 52,470 shares of the company’s stock valued at $1,459,000 after buying an additional 2,630 shares during the period. Aperio Group LLC raised its stake in Gaming and Leisure Properties by 35.5% in the first quarter. Aperio Group LLC now owns 17,031 shares of the company’s stock valued at $527,000 after buying an additional 4,463 shares during the period. Nisa Investment Advisors L.L.C. raised its stake in Gaming and Leisure Properties by 83.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 33,454 shares of the company’s stock valued at $1,034,000 after buying an additional 15,200 shares during the period. Virginia Retirement System acquired a new stake in Gaming and Leisure Properties during the first quarter valued at $368,000. Finally, Parametrica Management Ltd acquired a new stake in Gaming and Leisure Properties during the first quarter valued at $261,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.
About Gaming and Leisure Properties
Gaming and Leisure Properties, Inc (GLPI) is a self-administered and self-managed Pennsylvania real estate investment trust (REIT). The Company is engaged in the business of acquiring, financing and owning real estate property to be leased to gaming operators in triple net lease arrangements. The Company’s segments include GLP Capital, L.P.
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