Gaming and Leisure Properties (NASDAQ:GLPI) Downgraded by StockNews.com to “Hold”

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

Several other analysts have also issued reports on GLPI. Stifel Nicolaus upped their price target on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a “buy” rating in a research report on Friday, July 26th. Wolfe Research raised Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research note on Friday, August 23rd. UBS Group increased their price objective on Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, Raymond James increased 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 investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.18.

Gaming and Leisure Properties Price Performance

Shares of Gaming and Leisure Properties stock opened at $50.19 on Monday. The firm has a market capitalization of $13.77 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 5.82 and a beta of 0.99. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49. Gaming and Leisure Properties has a 12 month low of $41.80 and a 12 month high of $52.60. The business’s 50-day moving average price is $51.15 and its 200-day moving average price is $47.62.

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

Gaming and Leisure Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 6.06%. The ex-dividend date of this dividend was Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio is currently 106.29%.

Insider Buying and Selling

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 6,885 shares of Gaming and Leisure Properties stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.16, for a total transaction of $345,351.60. Following the sale, the director now directly owns 149,800 shares of the company’s stock, valued at approximately $7,513,968. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Desiree A. Burke sold 12,973 shares of the stock in a transaction dated 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 directly owns 108,073 shares in the company, valued at $5,621,957.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director E Scott Urdang sold 6,885 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.16, for a total transaction of $345,351.60. Following the sale, the director now directly owns 149,800 shares in the company, valued at $7,513,968. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,363 shares of company stock valued at $2,840,781 over the last three months. Corporate insiders own 4.37% of the company’s stock.

Hedge Funds Weigh In On Gaming and Leisure Properties

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ignite Planners LLC raised its stake in Gaming and Leisure Properties by 1.8% during the second quarter. Ignite Planners LLC now owns 12,181 shares of the real estate investment trust’s stock valued at $543,000 after buying an additional 220 shares during the last quarter. EP Wealth Advisors LLC raised its position in shares of Gaming and Leisure Properties by 0.7% in the 2nd quarter. EP Wealth Advisors LLC now owns 33,990 shares of the real estate investment trust’s stock worth $1,537,000 after purchasing an additional 220 shares during the last quarter. Ieq Capital LLC boosted its stake in Gaming and Leisure Properties by 0.3% in the 2nd quarter. Ieq Capital LLC now owns 90,749 shares of the real estate investment trust’s stock worth $4,103,000 after purchasing an additional 257 shares in the last quarter. Marshall Financial Group LLC grew its position in Gaming and Leisure Properties by 1.4% during the 3rd quarter. Marshall Financial Group LLC now owns 20,917 shares of the real estate investment trust’s stock valued at $1,076,000 after purchasing an additional 289 shares during the last quarter. Finally, Private Advisor Group LLC increased its stake in Gaming and Leisure Properties by 2.7% during the 1st quarter. Private Advisor Group LLC now owns 11,440 shares of the real estate investment trust’s stock valued at $527,000 after purchasing an additional 299 shares in the last quarter. Institutional investors 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.