Gaming and Leisure Properties (NASDAQ:GLPI) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Gaming and Leisure Properties (NASDAQ:GLPIFree Report) from a hold rating to a buy rating in a research note released on Friday.

A number of other equities analysts have also recently issued reports on GLPI. Wells Fargo & Company decreased their target price on Gaming and Leisure Properties from $49.00 to $48.00 and set an equal weight rating on the stock in a report on Thursday, May 30th. Royal Bank of Canada decreased their target price on Gaming and Leisure Properties from $49.00 to $47.00 and set an outperform rating on the stock in a report on Monday, April 29th. Stifel Nicolaus lifted their target price on Gaming and Leisure Properties from $50.75 to $51.00 and gave the stock a buy rating in a report on Friday, May 17th. Wedbush restated an outperform rating and issued a $51.00 target price on shares of Gaming and Leisure Properties in a report on Friday, May 17th. Finally, JMP Securities reaffirmed a market outperform rating and issued a $53.00 target price on shares of Gaming and Leisure Properties in a research report on Tuesday, May 21st. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Gaming and Leisure Properties presently has a consensus rating of Moderate Buy and an average target price of $51.31.

Read Our Latest Stock Report on Gaming and Leisure Properties

Gaming and Leisure Properties Stock Down 2.6 %

Shares of GLPI stock opened at $43.69 on Friday. Gaming and Leisure Properties has a 1 year low of $41.80 and a 1 year high of $50.59. The stock has a market cap of $11.86 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 5.27 and a beta of 0.96. The business’s fifty day moving average is $44.26 and its 200-day moving average is $45.65. 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:GLPIGet Free Report) last issued its earnings results on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). The company had revenue of $376.00 million during the quarter, compared to analyst estimates of $368.44 million. Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 earnings per share. Equities analysts expect that Gaming and Leisure Properties will post 3.66 earnings per share for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.04 dividend on an annualized basis and a yield of 6.96%. Gaming and Leisure Properties’s payout ratio is 112.18%.

Institutional Trading of Gaming and Leisure Properties

A number of institutional investors have recently bought and sold shares of the company. Raleigh Capital Management Inc. boosted its position in Gaming and Leisure Properties by 3.0% during the third quarter. Raleigh Capital Management Inc. now owns 6,872 shares of the real estate investment trust’s stock valued at $313,000 after purchasing an additional 203 shares during the last quarter. Moody National Bank Trust Division boosted its stake in shares of Gaming and Leisure Properties by 1.2% during the 1st quarter. Moody National Bank Trust Division now owns 19,068 shares of the real estate investment trust’s stock worth $878,000 after acquiring an additional 231 shares in the last quarter. Securian Asset Management Inc. increased its holdings in shares of Gaming and Leisure Properties by 1.3% during the 4th quarter. Securian Asset Management Inc. now owns 22,534 shares of the real estate investment trust’s stock valued at $1,112,000 after acquiring an additional 289 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Gaming and Leisure Properties by 2.7% in the 1st quarter. Private Advisor Group LLC now owns 11,440 shares of the real estate investment trust’s stock valued at $527,000 after acquiring an additional 299 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in Gaming and Leisure Properties by 1.9% in the 4th quarter. Corient Private Wealth LLC now owns 17,844 shares of the real estate investment trust’s stock worth $881,000 after purchasing an additional 327 shares during the last quarter. Institutional investors and hedge funds own 91.14% of the company’s stock.

About Gaming and Leisure Properties

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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.

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Analyst Recommendations for Gaming and Leisure Properties (NASDAQ:GLPI)

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