Gaming and Leisure Properties (NASDAQ:GLPI) Reaches New 52-Week Low at $43.40

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $43.40 and last traded at $43.70, with a volume of 573125 shares traded. The stock had previously closed at $45.99.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GLPI shares. Royal Bank of Canada decreased their price objective on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. JPMorgan Chase & Co. downgraded shares of Gaming and Leisure Properties from an “overweight” rating to a “neutral” rating and set a $48.00 target price for the company. in a research note on Thursday, December 14th. Mizuho reduced 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 research note on Thursday, March 7th. Morgan Stanley reduced their target price on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st. Finally, StockNews.com upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and an average price target of $52.09.

Gaming and Leisure Properties Price Performance

The company has a market capitalization of $11.73 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 5.41 and a beta of 0.94. The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 1.48. The business’s 50-day moving average price is $45.36 and its 200 day moving average price is $46.08.

Gaming and Leisure Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.76 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 annualized dividend and a yield of 7.04%. Gaming and Leisure Properties’s payout ratio is presently 109.75%.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang purchased 2,500 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were purchased 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 owns 156,685 shares of the company’s stock, valued at approximately $7,050,825. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GLPI. Wellington Management Group LLP increased its stake in shares of Gaming and Leisure Properties by 40.8% in the fourth quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust’s stock worth $627,204,000 after buying an additional 3,684,553 shares during the period. Norges Bank bought a new position in Gaming and Leisure Properties in the 4th quarter worth about $141,537,000. Bank of New York Mellon Corp boosted its stake in Gaming and Leisure Properties by 78.5% in 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Gaming and Leisure Properties by 811.2% in 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 in the last quarter. Finally, Vanguard Group Inc. lifted its stake 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 valued at $1,605,894,000 after acquiring an additional 1,199,697 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.