Gaming and Leisure Properties’ (GLPI) “Overweight” Rating Reaffirmed at Morgan Stanley

Morgan Stanley restated their overweight rating on shares of Gaming and Leisure Properties (NASDAQ:GLPI) in a report published on Friday morning, Benzinga reports. The brokerage currently has a $53.00 price target on the real estate investment trust’s stock.

Several other research analysts have also weighed in on the company. Mizuho cut their target price on 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. Scotiabank increased their target price on Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a sector perform rating in a research report on Thursday, May 16th. Wedbush reaffirmed an outperform rating and issued a $51.00 target price on shares of Gaming and Leisure Properties in a research report on Friday, May 17th. Stifel Nicolaus increased their target price 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. Finally, StockNews.com lowered Gaming and Leisure Properties from a buy rating to a hold rating in a research report on Saturday, June 15th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $50.33.

Gaming and Leisure Properties Trading Up 0.2 %

Shares of Gaming and Leisure Properties stock opened at $44.48 on Friday. Gaming and Leisure Properties has a fifty-two week low of $41.80 and a fifty-two week high of $50.06. The firm has a market cap of $12.08 billion, a PE ratio of 16.41, a P/E/G ratio of 5.17 and a beta of 0.96. The business’s fifty day moving average is $44.06 and its two-hundred day moving average is $45.47. The company has a quick ratio of 6.47, a current ratio of 6.47 and a debt-to-equity ratio of 1.49.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. The business had revenue of $376.00 million for the quarter, compared to analysts’ expectations of $368.44 million. During the same period in the prior year, the company earned $0.92 EPS. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. Analysts anticipate that Gaming and Leisure Properties will post 3.65 earnings per share for the current year.

Gaming and Leisure Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a $0.76 dividend. The ex-dividend date was Friday, June 7th. This represents a $3.04 dividend on an annualized basis and a yield of 6.83%. Gaming and Leisure Properties’s payout ratio is currently 112.18%.

Institutional Trading of Gaming and Leisure Properties

A number of hedge funds and other institutional investors have recently modified their holdings of GLPI. Foundations Investment Advisors LLC increased its position in shares of Gaming and Leisure Properties by 4.9% during the fourth quarter. Foundations Investment Advisors LLC now owns 7,583 shares of the real estate investment trust’s stock worth $352,000 after acquiring an additional 354 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth about $2,501,000. GraniteShares Advisors LLC purchased a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth about $1,473,000. Treasurer of the State of North Carolina increased its position in shares of Gaming and Leisure Properties by 19.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 153,195 shares of the real estate investment trust’s stock worth $7,560,000 after acquiring an additional 24,489 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Gaming and Leisure Properties by 107.4% during the fourth quarter. Pacer Advisors Inc. now owns 45,803 shares of the real estate investment trust’s stock worth $2,260,000 after acquiring an additional 23,722 shares during the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.

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.