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

A number of other equities analysts also recently issued reports on the stock. Wedbush reaffirmed an outperform rating and set a $51.00 price objective on shares of Gaming and Leisure Properties in a report on Friday, May 17th. Stifel Nicolaus lifted their price objective on shares of Gaming and Leisure Properties from $50.75 to $51.00 and gave the stock a buy rating in a report on Friday, May 17th. Morgan Stanley reaffirmed an overweight rating and set a $53.00 price objective on shares of Gaming and Leisure Properties in a report on Friday, June 21st. Mizuho cut 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 report on Friday, May 10th. Finally, Scotiabank boosted their price target on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a sector perform rating in a report on Thursday, May 16th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $50.33.

Gaming and Leisure Properties Stock Performance

Shares of GLPI stock opened at $44.10 on Tuesday. The company has a current ratio of 6.47, a quick ratio of 6.47 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $11.97 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 5.17 and a beta of 0.98. The firm has a fifty day simple moving average of $44.29 and a two-hundred day simple moving average of $45.34. Gaming and Leisure Properties has a 12 month low of $41.80 and a 12 month high of $50.06.

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

Gaming and Leisure Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 6.89%. The ex-dividend date was Friday, June 7th. Gaming and Leisure Properties’s dividend payout ratio is currently 112.18%.

Institutional Investors Weigh In On Gaming and Leisure Properties

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLPI. LPL Financial LLC raised its stake in Gaming and Leisure Properties by 13.7% in the 3rd quarter. LPL Financial LLC now owns 105,146 shares of the real estate investment trust’s stock valued at $4,789,000 after acquiring an additional 12,656 shares during the period. Mariner LLC increased its position in shares of Gaming and Leisure Properties by 3.7% during the third quarter. Mariner LLC now owns 20,122 shares of the real estate investment trust’s stock valued at $917,000 after buying an additional 716 shares during the period. Natixis Advisors L.P. bought a new stake in shares of Gaming and Leisure Properties during the third quarter valued at about $1,357,000. O Shaughnessy Asset Management LLC increased its position in shares of Gaming and Leisure Properties by 14.4% during the third quarter. O Shaughnessy Asset Management LLC now owns 8,132 shares of the real estate investment trust’s stock valued at $370,000 after buying an additional 1,024 shares during the period. Finally, Bank of Nova Scotia increased its position in shares of Gaming and Leisure Properties by 15.3% during the third quarter. Bank of Nova Scotia now owns 15,769 shares of the real estate investment trust’s stock valued at $718,000 after buying an additional 2,097 shares during the period. 91.14% of the stock is currently owned by 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.