Gaming and Leisure Properties (NASDAQ:GLPI) Reaches New 1-Year High at $52.60

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) reached a new 52-week high during trading on Tuesday . The stock traded as high as $52.60 and last traded at $52.55, with a volume of 149505 shares traded. The stock had previously closed at $52.11.

Analyst Ratings Changes

GLPI has been the subject of several recent analyst reports. StockNews.com upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Friday, July 19th. Raymond James raised their price objective on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Wedbush reaffirmed an “outperform” rating and set a $51.00 target price on shares of Gaming and Leisure Properties in a research report on Friday, May 17th. Royal Bank of Canada increased their price target on Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Finally, Wolfe Research upgraded Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research note on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and an average target price of $52.11.

Gaming and Leisure Properties Price Performance

The stock has a market cap of $14.39 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 5.39 and a beta of 0.99. The stock’s 50 day moving average price is $49.05 and its two-hundred day moving average price is $46.14. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.49.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The company had revenue of $380.60 million for the quarter, compared to analysts’ expectations of $377.95 million. During the same quarter in the previous year, the business posted $0.92 EPS. The business’s quarterly revenue was up 6.7% on a year-over-year basis. Equities research analysts forecast that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date is Friday, September 13th. Gaming and Leisure Properties’s payout ratio is presently 112.18%.

Insider Transactions at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 5,605 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $48.89, for a total transaction of $274,028.45. Following the sale, the director now owns 156,685 shares in the company, valued at $7,660,329.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Desiree A. Burke sold 12,973 shares of Gaming and Leisure Properties stock in a transaction on Friday, August 30th. The shares were sold at an average price of $52.02, for a total value of $674,855.46. Following the sale, the chief financial officer now owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director E Scott Urdang sold 5,605 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $48.89, for a total transaction of $274,028.45. Following the transaction, the director now owns 156,685 shares of the company’s stock, valued at $7,660,329.65. The disclosure for this sale can be found here. Insiders have sold 49,478 shares of company stock valued at $2,495,429 in the last 90 days. 4.40% of the stock is currently owned by company insiders.

Institutional Trading of Gaming and Leisure Properties

Several institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC raised its stake in Gaming and Leisure Properties by 33.5% in the 4th quarter. Private Advisor Group LLC now owns 11,141 shares of the real estate investment trust’s stock valued at $550,000 after purchasing an additional 2,796 shares during the last quarter. Principal Securities Inc. acquired a new position in Gaming and Leisure Properties during the fourth quarter worth about $442,000. BNP Paribas Financial Markets grew its stake in Gaming and Leisure Properties by 6.6% during the 4th quarter. BNP Paribas Financial Markets now owns 221,624 shares of the real estate investment trust’s stock valued at $10,937,000 after acquiring an additional 13,747 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Gaming and Leisure Properties by 3.7% in the 4th quarter. QRG Capital Management Inc. now owns 149,115 shares of the real estate investment trust’s stock valued at $7,359,000 after acquiring an additional 5,330 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Gaming and Leisure Properties by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,730,590 shares of the real estate investment trust’s stock valued at $184,106,000 after acquiring an additional 45,729 shares during the last quarter. Institutional investors and hedge funds own 91.14% of the company’s stock.

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.