Gaming and Leisure Properties (NASDAQ:GLPI) Price Target Lowered to $47.00 at Royal Bank of Canada

Gaming and Leisure Properties (NASDAQ:GLPI) had its target price reduced by Royal Bank of Canada from $49.00 to $47.00 in a research report released on Monday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the real estate investment trust’s stock.

Several other research analysts also recently commented on the company. Morgan Stanley reduced their target price on Gaming and Leisure Properties from $55.00 to $53.00 and set an overweight rating on the stock in a report on Thursday, March 21st. Mizuho dropped their target price 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. JMP Securities restated a market outperform rating and issued a $53.00 price objective on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. Finally, StockNews.com upgraded shares of Gaming and Leisure Properties from a hold rating to a buy rating in a research report on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $51.91.

Gaming and Leisure Properties Trading Up 1.7 %

Gaming and Leisure Properties stock opened at $43.20 on Monday. Gaming and Leisure Properties has a 52 week low of $41.80 and a 52 week high of $52.31. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.47 and a current ratio of 6.47. The firm has a market capitalization of $11.73 billion, a PE ratio of 15.94, a PEG ratio of 5.31 and a beta of 0.94. The business’s 50-day simple moving average is $44.78 and its 200-day simple moving average is $45.84.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). The company had revenue of $376.00 million for the quarter, compared to analyst estimates of $368.44 million. Gaming and Leisure Properties had a net margin of 50.05% and a return on equity of 16.79%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 earnings per share. Equities research analysts forecast that Gaming and Leisure Properties will post 3.66 earnings per share for the current year.

Gaming and Leisure Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.76 dividend. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 annualized dividend and a yield of 7.04%. The ex-dividend date was Thursday, March 14th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 112.18%.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang bought 2,500 shares of the stock in a transaction dated Friday, March 1st. The shares were bought 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. CWM LLC boosted its position in Gaming and Leisure Properties by 38.7% in the third quarter. CWM LLC now owns 1,954 shares of the real estate investment trust’s stock valued at $89,000 after buying an additional 545 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Gaming and Leisure Properties by 15.2% in the third quarter. Commonwealth Equity Services LLC now owns 22,433 shares of the real estate investment trust’s stock valued at $1,022,000 after purchasing an additional 2,957 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Gaming and Leisure Properties by 0.9% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 121,200 shares of the real estate investment trust’s stock valued at $5,521,000 after purchasing an additional 1,100 shares in the last quarter. Xponance Inc. increased its position in shares of Gaming and Leisure Properties by 229.7% during the third quarter. Xponance Inc. now owns 33,025 shares of the real estate investment trust’s stock worth $1,504,000 after acquiring an additional 23,007 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Gaming and Leisure Properties by 2.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 67,917 shares of the real estate investment trust’s stock worth $3,094,000 after acquiring an additional 1,623 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.