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

StockNews.com cut shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

Several other research firms have also recently weighed in on GLPI. Morgan Stanley decreased their price target on 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. JMP Securities reissued a market outperform rating and issued a $53.00 target price on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. Royal Bank of Canada dropped their price target on shares of Gaming and Leisure Properties from $49.00 to $47.00 and set an outperform rating on the stock in a report on Monday, April 29th. Finally, Mizuho reduced their price target 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. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $51.91.

Gaming and Leisure Properties Stock Performance

Shares of Gaming and Leisure Properties stock opened at $43.20 on Wednesday. The stock has a market cap of $11.73 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 5.08 and a beta of 0.95. 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 $51.43. The firm’s 50-day moving average is $44.60 and its 200 day moving average is $45.75.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). The firm had revenue of $376.00 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.92 EPS. Sell-side analysts anticipate that Gaming and Leisure Properties will post 3.66 EPS for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.76 dividend. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 dividend on an annualized basis and a yield of 7.04%. The ex-dividend date of this dividend was Thursday, March 14th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 112.18%.

Insider Buying and Selling at Gaming and Leisure Properties

In related news, Director E Scott Urdang acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was bought at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the purchase, the director now owns 156,685 shares in the company, valued at approximately $7,050,825. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. CWM LLC raised its holdings in Gaming and Leisure Properties by 38.7% during the third quarter. CWM LLC now owns 1,954 shares of the real estate investment trust’s stock valued at $89,000 after acquiring an additional 545 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Gaming and Leisure Properties by 15.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 22,433 shares of the real estate investment trust’s stock worth $1,022,000 after purchasing an additional 2,957 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Gaming and Leisure Properties by 0.9% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 121,200 shares of the real estate investment trust’s stock worth $5,521,000 after purchasing an additional 1,100 shares during the period. Xponance Inc. grew its holdings in Gaming and Leisure Properties by 229.7% during the 3rd quarter. Xponance Inc. now owns 33,025 shares of the real estate investment trust’s stock valued at $1,504,000 after buying an additional 23,007 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in Gaming and Leisure Properties by 2.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 67,917 shares of the real estate investment trust’s stock valued at $3,094,000 after buying an additional 1,623 shares in the last quarter. Hedge funds and other institutional investors own 91.14% of the company’s stock.

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.