Gaming and Leisure Properties (NASDAQ:GLPI) Downgraded by StockNews.com

StockNews.com lowered shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a buy rating to a hold rating in a research report released on Monday morning.

Several other analysts also recently issued reports on the company. Stifel Nicolaus boosted their price target on Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a “buy” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $52.00 price objective (up previously from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. JMP Securities increased their target price on shares of Gaming and Leisure Properties from $53.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Monday, August 12th. Finally, Raymond James lifted their price target on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $52.18.

Gaming and Leisure Properties Price Performance

Shares of GLPI opened at $50.49 on Monday. The firm has a market capitalization of $13.71 billion, a PE ratio of 18.63, a PEG ratio of 5.82 and a beta of 0.99. The company has a debt-to-equity ratio of 1.49, a current ratio of 5.91 and a quick ratio of 5.91. The company’s 50-day moving average is $51.11 and its 200-day moving average is $47.54. Gaming and Leisure Properties has a fifty-two week low of $41.80 and a fifty-two week high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.25). Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The company had revenue of $385.34 million during the quarter, compared to the consensus estimate of $385.09 million. During the same period in the prior year, the company earned $0.92 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. Equities analysts forecast that Gaming and Leisure Properties will post 3.67 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.76 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.04 annualized dividend and a dividend yield of 6.02%. Gaming and Leisure Properties’s payout ratio is 112.18%.

Insider Buying and Selling

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of Gaming and Leisure Properties stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the transaction, the director now owns 156,685 shares in the company, valued at $7,660,329.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Desiree A. Burke sold 12,973 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $52.02, for a total value of $674,855.46. Following the completion of the transaction, the chief financial officer now owns 108,073 shares of the company’s stock, valued at $5,621,957.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director E Scott Urdang sold 5,605 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $48.89, for a total transaction of $274,028.45. Following the sale, the director now directly owns 156,685 shares in the company, valued at approximately $7,660,329.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,478 shares of company stock worth $2,495,429 in the last ninety days. 4.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Gaming and Leisure Properties

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in Gaming and Leisure Properties by 27.4% in the first quarter. Russell Investments Group Ltd. now owns 309,882 shares of the real estate investment trust’s stock valued at $14,276,000 after purchasing an additional 66,601 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Gaming and Leisure Properties in the 1st quarter valued at approximately $2,396,000. Lasalle Investment Management Securities LLC boosted its position in Gaming and Leisure Properties by 1.5% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 1,479,756 shares of the real estate investment trust’s stock worth $68,172,000 after buying an additional 21,667 shares during the period. Manning & Napier Advisors LLC bought a new stake in Gaming and Leisure Properties during the 2nd quarter worth approximately $3,165,000. Finally, Caxton Associates LP increased its position in Gaming and Leisure Properties by 72.5% in the 1st quarter. Caxton Associates LP now owns 24,282 shares of the real estate investment trust’s stock valued at $1,119,000 after acquiring an additional 10,209 shares during the period. 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.