Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Receives $52.50 Consensus Target Price from Brokerages

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) has earned an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $52.09.

Several brokerages have commented on GLPI. JPMorgan Chase & Co. lowered shares of Gaming and Leisure Properties from an “overweight” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a research report on Thursday, December 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $53.00 price objective on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. StockNews.com raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Mizuho lowered their price objective on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Finally, Royal Bank of Canada lowered their price objective on shares of 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.

Gaming and Leisure Properties Stock Up 0.1 %

GLPI opened at $45.16 on Tuesday. The company has a debt-to-equity ratio of 1.48, a current ratio of 7.41 and a quick ratio of 7.41. The company’s 50-day moving average is $45.48 and its 200 day moving average is $46.15. Gaming and Leisure Properties has a fifty-two week low of $43.54 and a fifty-two week high of $52.45. The firm has a market capitalization of $12.26 billion, a P/E ratio of 16.30, a PEG ratio of 5.64 and a beta of 0.94.

Gaming and Leisure Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 6.73%. The ex-dividend date was Thursday, March 14th. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. Gaming and Leisure Properties’s payout ratio is currently 109.75%.

Insiders Place Their Bets

In related news, Director E Scott Urdang purchased 2,500 shares of the business’s stock in a transaction on Friday, March 1st. The stock was acquired at an average price of $45.00 per share, with a total value of $112,500.00. Following the purchase, the director now directly owns 156,685 shares in the company, valued at $7,050,825. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Gaming and Leisure Properties

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Raleigh Capital Management Inc. lifted its holdings in shares of Gaming and Leisure Properties by 3.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 6,872 shares of the real estate investment trust’s stock worth $313,000 after acquiring an additional 203 shares during the last quarter. Gilbert & Cook Inc. lifted its holdings in shares of Gaming and Leisure Properties by 4.6% in the 4th quarter. Gilbert & Cook Inc. now owns 5,214 shares of the real estate investment trust’s stock worth $257,000 after acquiring an additional 229 shares during the last quarter. Moody National Bank Trust Division lifted its holdings in shares of Gaming and Leisure Properties by 1.2% in the 1st quarter. Moody National Bank Trust Division now owns 19,068 shares of the real estate investment trust’s stock worth $878,000 after acquiring an additional 231 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Gaming and Leisure Properties by 1.0% in the 4th quarter. Public Sector Pension Investment Board now owns 25,538 shares of the real estate investment trust’s stock worth $1,260,000 after acquiring an additional 242 shares during the last quarter. Finally, Securian Asset Management Inc. lifted its holdings in shares of Gaming and Leisure Properties by 1.3% in the 4th quarter. Securian Asset Management Inc. now owns 22,534 shares of the real estate investment trust’s stock worth $1,112,000 after acquiring an additional 289 shares during the last quarter. 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.