Gaming and Leisure Properties Inc (GLPI) Declares Dividend Increase – $0.68 Per Share

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Gaming and Leisure Properties Inc (NASDAQ:GLPI) announced a quarterly dividend on Tuesday, October 16th, Wall Street Journal reports. Investors of record on Friday, December 14th will be given a dividend of 0.68 per share by the real estate investment trust on Friday, December 28th. This represents a $2.72 annualized dividend and a yield of 7.83%. The ex-dividend date of this dividend is Thursday, December 13th. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.63.

Gaming and Leisure Properties has raised its dividend payment by an average of 6.3% per year over the last three years and has raised its dividend every year for the last 3 years. Gaming and Leisure Properties has a dividend payout ratio of 88.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Gaming and Leisure Properties to earn $3.36 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 81.0%.

Gaming and Leisure Properties stock opened at $34.72 on Friday. Gaming and Leisure Properties has a 12-month low of $32.51 and a 12-month high of $37.29. The stock has a market cap of $7.47 billion, a P/E ratio of 11.24, a PEG ratio of 1.29 and a beta of 0.76. The company has a quick ratio of 10.00, a current ratio of 10.00 and a debt-to-equity ratio of 2.31.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its earnings results on Thursday, November 1st. The real estate investment trust reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.26). The company had revenue of $254.14 million for the quarter, compared to analysts’ expectations of $255.55 million. Gaming and Leisure Properties had a return on equity of 16.10% and a net margin of 38.95%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $0.45 EPS. As a group, equities research analysts predict that Gaming and Leisure Properties will post 3.1 earnings per share for the current year.

In other Gaming and Leisure Properties news, Director Joseph W. Marshall III acquired 1,000 shares of the stock in a transaction dated Monday, November 19th. The stock was acquired at an average price of $33.33 per share, with a total value of $33,330.00. Following the completion of the purchase, the director now owns 27,081 shares in the company, valued at approximately $902,609.73. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David A. Handler acquired 11,000 shares of the stock in a transaction dated Friday, November 9th. The stock was acquired at an average cost of $33.50 per share, with a total value of $368,500.00. Following the purchase, the director now owns 323,461 shares of the company’s stock, valued at approximately $10,835,943.50. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 26,000 shares of company stock valued at $873,910. 5.88% of the stock is currently owned by insiders.

Several research analysts have weighed in on the stock. BidaskClub raised shares of Gaming and Leisure Properties from a “strong sell” rating to a “sell” rating in a research note on Wednesday, November 21st. Barclays increased their target price on shares of Gaming and Leisure Properties from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, November 19th. Jefferies Financial Group lowered their target price on shares of Gaming and Leisure Properties from $41.00 to $37.00 and set a “hold” rating for the company in a research note on Friday, November 16th. Zacks Investment Research raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Thursday, October 4th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $39.00 target price on shares of Gaming and Leisure Properties in a research note on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.55.

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About Gaming and Leisure Properties

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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Dividend History for Gaming and Leisure Properties (NASDAQ:GLPI)

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