Gaming and Leisure Properties (NASDAQ:GLPI) Price Target Lowered to $48.00 at Scotiabank

Gaming and Leisure Properties (NASDAQ:GLPI) had its target price lowered by Scotiabank from $50.00 to $48.00 in a research note issued to investors on Monday morning, MarketBeat reports. The brokerage currently has a sector perform rating on the real estate investment trust’s stock.

Several other equities analysts have also recently issued reports on GLPI. Cantor Fitzgerald lowered their price objective on Gaming and Leisure Properties from $51.00 to $49.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Barclays dropped their price objective on Gaming and Leisure Properties from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 3rd. Stifel Nicolaus set a $47.75 target price on Gaming and Leisure Properties in a research report on Monday, December 15th. UBS Group restated a “buy” rating on shares of Gaming and Leisure Properties in a research note on Thursday, January 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Gaming and Leisure Properties in a research report on Thursday, January 22nd. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.70.

Gaming and Leisure Properties Stock Performance

Shares of GLPI stock opened at $44.37 on Monday. The company has a market capitalization of $12.56 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 2.48 and a beta of 0.67. The company has a debt-to-equity ratio of 1.47, a quick ratio of 13.23 and a current ratio of 13.23. Gaming and Leisure Properties has a one year low of $41.17 and a one year high of $52.24. The company’s 50-day moving average is $44.39 and its 200 day moving average is $45.46.

Gaming and Leisure Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 7.0%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 113.04%.

Insider Transactions at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, SVP Steven Ladany sold 13,409 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $45.04, for a total transaction of $603,941.36. Following the completion of the sale, the senior vice president directly owned 57,886 shares of the company’s stock, valued at approximately $2,607,185.44. This represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 36,864 shares of company stock worth $1,650,906 in the last three months. Insiders own 4.26% of the company’s stock.

Institutional Investors Weigh In On Gaming and Leisure Properties

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Spire Wealth Management lifted its position in Gaming and Leisure Properties by 62.3% during the third quarter. Spire Wealth Management now owns 620 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 238 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Gaming and Leisure Properties in the fourth quarter worth about $29,000. REAP Financial Group LLC raised its stake in shares of Gaming and Leisure Properties by 66.0% in the second quarter. REAP Financial Group LLC now owns 664 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 264 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of Gaming and Leisure Properties by 89.3% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 655 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 309 shares in the last quarter. Finally, Quent Capital LLC bought a new position in shares of Gaming and Leisure Properties during the 3rd quarter valued at approximately $31,000. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

About Gaming and Leisure Properties

Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.

The company’s core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.