Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Announces Quarterly Dividend of $0.78

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) declared a quarterly dividend on Thursday, February 19th. Stockholders of record on Friday, March 13th will be paid a dividend of 0.78 per share by the real estate investment trust on Friday, March 27th. This represents a c) annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Friday, March 13th.

Gaming and Leisure Properties has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Gaming and Leisure Properties has a dividend payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Gaming and Leisure Properties to earn $3.98 per share next year, which means the company should continue to be able to cover its $3.12 annual dividend with an expected future payout ratio of 78.4%.

Gaming and Leisure Properties Stock Performance

GLPI traded down $0.22 during trading hours on Friday, hitting $47.13. The company’s stock had a trading volume of 876,915 shares, compared to its average volume of 2,338,438. The company has a 50-day simple moving average of $45.25 and a 200 day simple moving average of $45.43. The company has a current ratio of 13.23, a quick ratio of 13.23 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $13.34 billion, a PE ratio of 17.08, a PEG ratio of 2.58 and a beta of 0.67. Gaming and Leisure Properties has a fifty-two week low of $41.17 and a fifty-two week high of $52.24.

Insider Buying and Selling at Gaming and Leisure Properties

In related news, SVP Steven Ladany sold 13,409 shares of Gaming and Leisure Properties stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $45.04, for a total value of $603,941.36. Following the transaction, the senior vice president directly owned 57,886 shares in the company, valued at $2,607,185.44. The trade was a 18.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 36,864 shares of company stock worth $1,650,906. Company insiders own 4.26% of the company’s stock.

Hedge Funds Weigh In On Gaming and Leisure Properties

A number of institutional investors have recently bought and sold shares of the stock. Spire Wealth Management lifted its stake in Gaming and Leisure Properties by 62.3% during the third quarter. Spire Wealth Management now owns 620 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 238 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Gaming and Leisure Properties in the 4th quarter valued at approximately $29,000. MassMutual Private Wealth & Trust FSB boosted its stake in Gaming and Leisure Properties by 89.3% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 655 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 309 shares during the period. Quent Capital LLC purchased a new position in shares of Gaming and Leisure Properties during the third quarter valued at $31,000. Finally, International Assets Investment Management LLC acquired a new stake in Gaming and Leisure Properties during the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 91.14% of the company’s stock.

About Gaming and Leisure Properties

Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.

The company’s core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.