Gaming and Leisure Properties (NASDAQ:GLPI) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a hold rating to a buy rating in a research report released on Tuesday.

A number of other equities analysts also recently commented on GLPI. Morgan Stanley reaffirmed an overweight rating and set a $53.00 price objective on shares of Gaming and Leisure Properties in a report on Friday, June 21st. Scotiabank lifted their price target on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a sector perform rating in a report on Thursday, May 16th. Wells Fargo & Company cut their price target on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set an equal weight rating for the company in a report on Thursday, May 30th. JMP Securities reissued a market outperform rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a report on Monday, June 17th. Finally, Royal Bank of Canada cut their price target on shares of Gaming and Leisure Properties from $49.00 to $47.00 and set an outperform rating for the company in a report on Monday, April 29th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $50.33.

Gaming and Leisure Properties Price Performance

NASDAQ:GLPI opened at $44.10 on Tuesday. The company has a 50-day moving average of $44.29 and a 200-day moving average of $45.34. The company has a market capitalization of $11.97 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 5.17 and a beta of 0.98. Gaming and Leisure Properties has a 52 week low of $41.80 and a 52 week high of $50.06. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.47 and a current ratio of 6.47.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings data 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 business had revenue of $376.00 million for the quarter, compared to the consensus estimate of $368.44 million. Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. Gaming and Leisure Properties’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 earnings per share. As a group, equities research analysts anticipate that Gaming and Leisure Properties will post 3.65 earnings per share for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 6.89%. The ex-dividend date was Friday, June 7th. Gaming and Leisure Properties’s payout ratio is presently 112.18%.

Institutional Investors Weigh In On Gaming and Leisure Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new stake in shares of Gaming and Leisure Properties during the 4th quarter worth approximately $30,000. EdgeRock Capital LLC acquired a new stake in shares of Gaming and Leisure Properties during the 4th quarter worth approximately $33,000. MCF Advisors LLC grew its position in shares of Gaming and Leisure Properties by 416.7% during the 1st quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 600 shares during the period. Mather Group LLC. acquired a new stake in shares of Gaming and Leisure Properties during the 1st quarter worth approximately $42,000. Finally, Larson Financial Group LLC grew its position in shares of Gaming and Leisure Properties by 1,587.3% during the 1st quarter. Larson Financial Group LLC now owns 1,063 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds 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.