Gaming and Leisure Properties (NASDAQ:GLPI) Given New $42.00 Price Target at Cantor Fitzgerald

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target decreased by Cantor Fitzgerald from $48.00 to $42.00 in a report issued on Wednesday,Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the real estate investment trust’s stock.

GLPI has been the subject of several other reports. Weiss Ratings downgraded Gaming and Leisure Properties from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Truist Financial decreased their price objective on Gaming and Leisure Properties from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, October 20th. Barclays decreased their price objective on Gaming and Leisure Properties from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Tuesday, October 20th. Morgan Stanley lowered their price objective on Gaming and Leisure Properties from $55.00 to $50.00 and set an “equal weight” rating for the company in a research report on Thursday, September 17th. Finally, Royal Bank Of Canada dropped their target price on Gaming and Leisure Properties from $54.00 to $52.00 and set an “outperform” rating for the company in a research note on Monday, August 3rd. Nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and a consensus price target of $47.36.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ GLPI opened at $39.83 on Wednesday. The company has a market cap of $11.59 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 2.00 and a beta of 0.64. Gaming and Leisure Properties has a 12 month low of $37.33 and a 12 month high of $49.95. The company has a debt-to-equity ratio of 1.52, a current ratio of 5.38 and a quick ratio of 5.38. The company has a 50-day simple moving average of $39.67 and a 200-day simple moving average of $44.41.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The firm had revenue of $435.45 million during the quarter, compared to analyst estimates of $436.30 million. Gaming and Leisure Properties had a net margin of 55.71% and a return on equity of 18.16%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 EPS. On average, equities analysts anticipate that Gaming and Leisure Properties will post 4.03 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 8.2%. The ex-dividend date was Friday, September 11th. Gaming and Leisure Properties’s payout ratio is presently 100.31%.

Insider Buying and Selling

In related news, Director Earl C. Shanks purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was purchased at an average price of $42.24 per share, with a total value of $422,400.00. Following the completion of the transaction, the director owned 107,259 shares of the company’s stock, valued at approximately $4,530,620.16. This trade represents a 10.28% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.11% of the company’s stock.

Hedge Funds Weigh In On Gaming and Leisure Properties

A number of hedge funds have recently made changes to their positions in GLPI. BlackRock Inc. purchased a new stake in Gaming and Leisure Properties during the second quarter valued at about $1,596,811,000. State Street Corp increased its stake in Gaming and Leisure Properties by 2.3% during the second quarter. State Street Corp now owns 13,477,304 shares of the real estate investment trust’s stock worth $600,144,000 after acquiring an additional 305,154 shares during the last quarter. Jennison Associates LLC increased its stake in Gaming and Leisure Properties by 21.7% during the first quarter. Jennison Associates LLC now owns 4,378,409 shares of the real estate investment trust’s stock worth $194,270,000 after acquiring an additional 781,198 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Gaming and Leisure Properties by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 4,160,855 shares of the real estate investment trust’s stock worth $184,614,000 after acquiring an additional 67,652 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Gaming and Leisure Properties in the 2nd quarter worth about $151,300,000. Institutional investors and hedge funds own 91.14% of the company’s stock.

About Gaming and Leisure Properties

Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust that owns and leases gaming and entertainment properties. The company primarily operates as a landlord, generating rental income through long-term agreements with casino operators rather than directly managing most of the gaming facilities located on its properties.

GLPI’s portfolio includes casinos, resorts, racetracks and related entertainment facilities across the United States. Its leases are generally structured as triple-net agreements, under which tenants are typically responsible for property-level expenses such as maintenance, insurance and real estate taxes.