Gaming and Leisure Properties (NASDAQ:GLPI) Hits New 12-Month Low at $42.12

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

Analyst Upgrades and Downgrades

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

Gaming and Leisure Properties Price Performance

The company has a market cap of $11.41 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 5.35 and a beta of 0.94. The company has a debt-to-equity ratio of 1.48, a quick ratio of 7.41 and a current ratio of 7.41. The stock has a 50 day moving average of $45.15 and a 200-day moving average of $46.00.

Gaming and Leisure Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.76 dividend. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. The ex-dividend date was Thursday, March 14th. This represents a $3.04 dividend on an annualized basis and a yield of 7.23%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 109.75%.

Insider Buying and Selling

In related news, Director E Scott Urdang purchased 2,500 shares of the business’s stock in a transaction on Friday, March 1st. The shares were bought 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 $7,050,825. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Gaming and Leisure Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLPI. Wellington Management Group LLP grew its position in Gaming and Leisure Properties by 40.8% during the 4th quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust’s stock worth $627,204,000 after purchasing an additional 3,684,553 shares during the period. Norges Bank acquired a new stake in Gaming and Leisure Properties during the 4th quarter worth about $141,537,000. Bank of New York Mellon Corp grew its position in Gaming and Leisure Properties by 78.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,906,793 shares of the real estate investment trust’s stock worth $132,404,000 after purchasing an additional 1,278,566 shares during the period. Price T Rowe Associates Inc. MD grew its position in Gaming and Leisure Properties by 811.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,349,554 shares of the real estate investment trust’s stock worth $70,260,000 after purchasing an additional 1,201,444 shares during the period. Finally, Vanguard Group Inc. grew its position in Gaming and Leisure Properties by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 34,218,955 shares of the real estate investment trust’s stock worth $1,605,894,000 after purchasing an additional 1,199,697 shares during the period. 91.14% of the stock is owned by institutional investors and hedge funds.

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.