Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) have been given an average rating of “Hold” by the ten ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $36.00.
A number of analysts recently issued reports on GLPI shares. Zacks Investment Research cut Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. Deutsche Bank AG lifted their price objective on Gaming and Leisure Properties from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, April 28th. TheStreet raised Gaming and Leisure Properties from a “c+” rating to a “b” rating in a research report on Monday, May 22nd. Ladenburg Thalmann Financial Services started coverage on Gaming and Leisure Properties in a research report on Friday, June 2nd. They set a “buy” rating and a $41.00 price objective for the company. Finally, BidaskClub cut Gaming and Leisure Properties from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th.
In related news, Director Barry F. Schwartz purchased 10,000 shares of Gaming and Leisure Properties stock in a transaction on Friday, June 16th. The stock was bought at an average price of $36.44 per share, with a total value of $364,400.00. Following the completion of the transaction, the director now directly owns 14,804 shares of the company’s stock, valued at $539,457.76. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 5.88% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in Gaming and Leisure Properties by 4,109.0% in the first quarter. BlackRock Inc. now owns 12,544,234 shares of the real estate investment trust’s stock worth $419,228,000 after buying an additional 12,246,199 shares during the last quarter. Norges Bank acquired a new position in Gaming and Leisure Properties during the fourth quarter worth approximately $53,235,000. State Street Corp raised its position in Gaming and Leisure Properties by 27.0% in the first quarter. State Street Corp now owns 3,928,376 shares of the real estate investment trust’s stock worth $131,289,000 after buying an additional 835,670 shares during the last quarter. OppenheimerFunds Inc. acquired a new position in Gaming and Leisure Properties during the first quarter worth approximately $12,521,000. Finally, Systematic Financial Management LP acquired a new position in Gaming and Leisure Properties during the first quarter worth approximately $11,535,000. Institutional investors and hedge funds own 90.18% of the company’s stock.
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Shares of Gaming and Leisure Properties (NASDAQ:GLPI) traded up 0.11% during mid-day trading on Tuesday, hitting $37.65. The stock had a trading volume of 754,247 shares. Gaming and Leisure Properties has a 12-month low of $29.32 and a 12-month high of $38.89.
Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by $0.32. The firm had revenue of $243.40 million for the quarter, compared to analyst estimates of $243.77 million. Gaming and Leisure Properties had a net margin of 38.01% and a return on equity of 16.42%. Gaming and Leisure Properties’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 EPS. On average, equities analysts forecast that Gaming and Leisure Properties will post $1.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be given a $0.63 dividend. The ex-dividend date is Thursday, September 7th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 6.69%. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.62. Gaming and Leisure Properties’s payout ratio is currently 144.19%.
About Gaming and Leisure Properties
Gaming and Leisure Properties, Inc (GLPI) is a self-administered and self-managed Pennsylvania real estate investment trust (REIT). The Company is engaged in the business of acquiring, financing and owning real estate property to be leased to gaming operators in triple net lease arrangements. Its segments include GLP Capital, L.P.
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