Gaming and Leisure Properties (NASDAQ:GLPI) Hits New 12-Month Low at $42.12

Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) hit a new 52-week low during trading on Tuesday . The company traded as low as $42.12 and last traded at $42.16, with a volume of 122053 shares traded. The stock had previously closed at $42.81.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GLPI shares. StockNews.com upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Royal Bank of Canada lowered their target price on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. Morgan Stanley reduced their price target on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, March 21st. JMP Securities reissued a “market outperform” rating and issued a $53.00 price target on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. Finally, Mizuho reduced their price target on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, March 7th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.09.

Gaming and Leisure Properties Stock Down 0.2 %

The business’s fifty day moving average price is $45.15 and its 200 day moving average price is $46.00. The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $11.41 billion, a PE ratio of 15.17, a PEG ratio of 5.35 and a beta of 0.94.

Gaming and Leisure Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 7.23%. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. The ex-dividend date was Thursday, March 14th. Gaming and Leisure Properties’s dividend payout ratio is presently 109.75%.

Insider Activity

In other Gaming and Leisure Properties news, Director E Scott Urdang bought 2,500 shares of Gaming and Leisure Properties stock in a transaction dated Friday, March 1st. The stock was acquired at an average cost of $45.00 per share, with a total value of $112,500.00. Following the completion of the acquisition, the director now owns 156,685 shares of the company’s stock, valued at $7,050,825. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC raised its holdings in Gaming and Leisure Properties by 203.0% during the first quarter. Atlas Capital Advisors LLC now owns 512 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 343 shares in the last quarter. Headlands Technologies LLC purchased a new position in Gaming and Leisure Properties during the fourth quarter worth about $30,000. Operose Advisors LLC purchased a new position in Gaming and Leisure Properties during the third quarter worth about $32,000. EdgeRock Capital LLC purchased a new position in Gaming and Leisure Properties during the fourth quarter worth about $33,000. Finally, MCF Advisors LLC raised its holdings in Gaming and Leisure Properties by 416.7% during the first quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 600 shares in the last quarter. 91.14% of the stock is owned by hedge funds and other 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.