Other analysts have also issued reports about the company. Zacks Investment Research raised Gaming and Leisure Properties from a hold rating to a buy rating and set a $39.00 price target on the stock in a research note on Tuesday, May 2nd. Deutsche Bank AG lifted their price target on Gaming and Leisure Properties from $36.00 to $37.00 and gave the stock a buy rating in a research note on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $36.75.
Gaming and Leisure Properties (NASDAQ:GLPI) traded down 0.27% during mid-day trading on Monday, reaching $36.46. The company had a trading volume of 589,178 shares. The stock has a 50 day moving average of $35.02 and a 200 day moving average of $32.18. The stock has a market capitalization of $7.59 billion, a price-to-earnings ratio of 21.15 and a beta of 0.93. Gaming and Leisure Properties has a 52 week low of $29.32 and a 52 week high of $36.79.
Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. The firm had revenue of $242.71 million for the quarter, compared to analyst estimates of $240.88 million. Gaming and Leisure Properties had a return on equity of 18.96% and a net margin of 34.93%. The business’s revenue was up 63.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 earnings per share. Analysts anticipate that Gaming and Leisure Properties will post $1.81 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be given a dividend of $0.62 per share. The ex-dividend date is Wednesday, June 14th. This represents a $2.48 dividend on an annualized basis and a yield of 6.78%. Gaming and Leisure Properties’s payout ratio is 154.84%.
In related news, SVP Steven T. Snyder sold 217,839 shares of Gaming and Leisure Properties stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $32.12, for a total transaction of $6,996,988.68. Following the transaction, the senior vice president now owns 323,543 shares in the company, valued at $10,392,201.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 22.36% of the company’s stock.
A number of institutional investors have recently made changes to their positions in GLPI. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Gaming and Leisure Properties by 9.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,331 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 291 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Gaming and Leisure Properties during the fourth quarter worth approximately $116,000. Penserra Capital Management LLC increased its position in shares of Gaming and Leisure Properties by 99.2% in the first quarter. Penserra Capital Management LLC now owns 4,474 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 2,228 shares during the last quarter. Geneva Advisors LLC bought a new position in shares of Gaming and Leisure Properties during the first quarter worth approximately $201,000. Finally, Vident Investment Advisory LLC bought a new position in shares of Gaming and Leisure Properties during the first quarter worth approximately $201,000. Hedge funds and other institutional investors own 90.08% of the company’s stock.
About Gaming and Leisure Properties
Gaming and Leisure Properties, Inc (GLPI) is a self-administered and self-managed Pennsylvania real estate investment trust (REIT). The Company is engaged in the business of acquiring, financing and owning real estate property to be leased to gaming operators in triple net lease arrangements. Its segments include GLP Capital, L.P.
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