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

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

Several other equities research analysts have also recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an overweight rating on the stock in a research report on Thursday, March 21st. Royal Bank of Canada cut their target price on shares of Gaming and Leisure Properties from $49.00 to $47.00 and set an outperform rating for the company in a report on Monday. JMP Securities reissued 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. Finally, Mizuho cut their target price on shares of 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. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $51.91.

Gaming and Leisure Properties Trading Up 0.9 %

Gaming and Leisure Properties stock opened at $43.13 on Wednesday. The stock has a market cap of $11.71 billion, a P/E ratio of 15.92, a PEG ratio of 5.40 and a beta of 0.94. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.47 and a quick ratio of 6.47. Gaming and Leisure Properties has a 1 year low of $41.80 and a 1 year high of $51.91. The firm’s 50 day moving average price is $44.73 and its 200-day moving average price is $45.82.

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

Gaming and Leisure Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 7.05%. 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. Gaming and Leisure Properties’s payout ratio is presently 112.18%.

Insiders Place Their Bets

In other news, Director E Scott Urdang acquired 2,500 shares of the company’s stock in a transaction on Friday, March 1st. The stock was bought at an average cost of $45.00 per share, with a total value of $112,500.00. Following the completion of the purchase, the director now directly owns 156,685 shares of the company’s stock, valued at $7,050,825. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is owned by insiders.

Institutional Trading of Gaming and Leisure Properties

A number of large investors have recently made changes to their positions in the stock. Raleigh Capital Management Inc. boosted its stake in shares of Gaming and Leisure Properties by 3.0% during the third quarter. Raleigh Capital Management Inc. now owns 6,872 shares of the real estate investment trust’s stock valued at $313,000 after purchasing an additional 203 shares during the period. Moody National Bank Trust Division boosted its stake in shares of Gaming and Leisure Properties by 1.2% during the first quarter. Moody National Bank Trust Division now owns 19,068 shares of the real estate investment trust’s stock valued at $878,000 after purchasing an additional 231 shares during the period. Securian Asset Management Inc. boosted its stake in shares of Gaming and Leisure Properties by 1.3% during the fourth quarter. Securian Asset Management Inc. now owns 22,534 shares of the real estate investment trust’s stock valued at $1,112,000 after purchasing an additional 289 shares during the period. Arete Wealth Advisors LLC boosted its stake in shares of Gaming and Leisure Properties by 6.9% during the third quarter. Arete Wealth Advisors LLC now owns 4,602 shares of the real estate investment trust’s stock valued at $210,000 after purchasing an additional 299 shares during the period. Finally, Private Advisor Group LLC boosted its stake in shares of Gaming and Leisure Properties by 2.7% during the first quarter. Private Advisor Group LLC now owns 11,440 shares of the real estate investment trust’s stock valued at $527,000 after purchasing an additional 299 shares during the period. 91.14% of the stock is owned by hedge funds and other institutional investors.

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.