StockNews.com Downgrades Gaming and Leisure Properties (NASDAQ:GLPI) to Hold

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

GLPI has been the topic of several other reports. Wolfe Research upgraded shares of 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 report on Friday, August 23rd. Raymond James boosted their target price on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft increased their price target on Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada boosted their price objective on Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus raised their target price on Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a “buy” rating in a research report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Gaming and Leisure Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.18.

Gaming and Leisure Properties Stock Down 1.2 %

GLPI stock opened at $50.19 on Monday. The firm has a market capitalization of $13.77 billion, a PE ratio of 17.55, a P/E/G ratio of 5.82 and a beta of 0.99. 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 has a twelve month low of $41.80 and a twelve month high of $52.60. The stock’s 50 day moving average is $51.15 and its 200-day moving average is $47.62.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). The company had revenue of $385.34 million during the quarter, compared to analysts’ expectations of $385.09 million. Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 earnings per share. Sell-side analysts expect that Gaming and Leisure Properties will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.76 per share. The ex-dividend date was Friday, September 13th. This represents a $3.04 dividend on an annualized basis and a yield of 6.06%. Gaming and Leisure Properties’s dividend payout ratio is presently 106.29%.

Insider Activity

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of the business’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 of the company’s stock, valued at $7,660,329.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Brandon John Moore sold 30,900 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the completion of the transaction, the chief operating officer now owns 208,977 shares of the company’s stock, valued at approximately $10,459,298.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director E Scott Urdang sold 5,605 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 156,685 shares in the company, valued at $7,660,329.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,363 shares of company stock valued at $2,840,781 over the last quarter. Company insiders own 4.37% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GLPI. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Gaming and Leisure Properties in the second quarter worth $31,000. EdgeRock Capital LLC bought a new stake in shares of Gaming and Leisure Properties during the 2nd quarter valued at about $33,000. Versant Capital Management Inc grew its holdings in shares of Gaming and Leisure Properties by 18,500.0% during the second quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 740 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Gaming and Leisure Properties by 142.2% in the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 384 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Gaming and Leisure Properties by 578.4% in the second quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 590 shares in the last quarter. 91.14% of the stock is owned by institutional investors.

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.