StockNews.com Upgrades Gaming and Leisure Properties (NASDAQ:GLPI) to Buy

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

Other equities analysts have also issued research reports about the company. Wells Fargo & Company lowered 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 research note on Thursday, May 30th. Stifel Nicolaus increased their price objective on Gaming and Leisure Properties from $50.75 to $51.00 and gave the stock a buy rating in a research report on Friday, May 17th. JMP Securities reissued a market outperform rating and issued a $53.00 target price on shares of Gaming and Leisure Properties in a research report on Monday, June 17th. Mizuho lowered their price target on shares of Gaming and Leisure Properties from $47.00 to $46.00 and set a neutral rating on the stock in a research report on Friday, May 10th. Finally, Wedbush reiterated an outperform rating and issued a $51.00 price objective on shares of Gaming and Leisure Properties in a research note on Friday, May 17th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $50.33.

Gaming and Leisure Properties Price Performance

NASDAQ:GLPI opened at $43.90 on Tuesday. The company has a market cap of $11.92 billion, a P/E ratio of 16.20, a P/E/G ratio of 5.32 and a beta of 0.98. The firm’s fifty day moving average price is $44.26 and its two-hundred day moving average price is $45.36. Gaming and Leisure Properties has a one year low of $41.80 and a one year high of $50.06. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.47 and a quick ratio of 6.47.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.64 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 net margin of 50.05% and a return on equity of 16.79%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company posted $0.92 EPS. Equities analysts expect that Gaming and Leisure Properties will post 3.65 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 6.92%. The ex-dividend date of this dividend was Friday, June 7th. Gaming and Leisure Properties’s payout ratio is presently 112.18%.

Institutional Investors Weigh In On Gaming and Leisure Properties

A number of large investors have recently modified their holdings of the business. Headlands Technologies LLC bought a new stake in shares of Gaming and Leisure Properties during the 4th quarter valued at approximately $30,000. EdgeRock Capital LLC acquired a new stake in Gaming and Leisure Properties in the fourth quarter valued at approximately $33,000. MCF Advisors LLC grew its stake in shares of 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 buying an additional 600 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Gaming and Leisure Properties during the first quarter worth $42,000. Finally, Larson Financial Group LLC lifted its stake in shares of Gaming and Leisure Properties by 1,587.3% in the 1st quarter. Larson Financial Group LLC now owns 1,063 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 91.14% of the company’s stock.

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.