Gaming and Leisure Properties (NASDAQ:GLPI) Price Target Lowered to $53.00 at Barclays

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target lowered by Barclays from $55.00 to $53.00 in a research note issued to investors on Tuesday,Benzinga reports. Barclays currently has an equal weight rating on the real estate investment trust’s stock.

A number of other research analysts have also issued reports on GLPI. JPMorgan Chase & Co. upgraded Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $49.00 to $54.00 in a research report on Friday, December 13th. Scotiabank cut their price objective on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 16th. Stifel Nicolaus upped their target price on shares of Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley cut Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price target on the stock. in a report on Wednesday, January 15th. Finally, Royal Bank of Canada decreased their price objective on Gaming and Leisure Properties from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Monday, February 24th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and an average price target of $54.04.

Gaming and Leisure Properties Stock Down 0.7 %

GLPI stock opened at $50.03 on Tuesday. The firm has a market cap of $13.75 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 2.01 and a beta of 0.99. Gaming and Leisure Properties has a 1-year low of $41.80 and a 1-year high of $52.60. The firm has a fifty day moving average price of $48.44 and a two-hundred day moving average price of $49.80. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. The business had revenue of $389.62 million during the quarter, compared to the consensus estimate of $391.54 million. Research analysts predict that Gaming and Leisure Properties will post 3.81 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.04 annualized dividend and a dividend yield of 6.08%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 105.92%.

Insider Transactions at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, COO Brandon John Moore sold 3,982 shares of Gaming and Leisure Properties stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $47.84, for a total value of $190,498.88. Following the transaction, the chief operating officer now owns 278,634 shares in the company, valued at approximately $13,329,850.56. The trade was a 1.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director E Scott Urdang sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $49.72, for a total value of $248,600.00. Following the completion of the transaction, the director now directly owns 145,953 shares in the company, valued at $7,256,783.16. This represents a 3.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,161 shares of company stock valued at $2,425,521 in the last quarter. Insiders own 4.37% of the company’s stock.

Hedge Funds Weigh In On Gaming and Leisure Properties

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Segall Bryant & Hamill LLC acquired a new position in shares of Gaming and Leisure Properties in the third quarter worth about $693,000. Aew Capital Management L P raised its stake in Gaming and Leisure Properties by 1,786.5% during the 4th quarter. Aew Capital Management L P now owns 761,600 shares of the real estate investment trust’s stock valued at $36,679,000 after purchasing an additional 721,230 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of Gaming and Leisure Properties by 76.1% in the third quarter. Sanctuary Advisors LLC now owns 32,316 shares of the real estate investment trust’s stock valued at $1,646,000 after purchasing an additional 13,965 shares in the last quarter. Zacks Investment Management boosted its position in Gaming and Leisure Properties by 10.9% during the 3rd quarter. Zacks Investment Management now owns 522,197 shares of the real estate investment trust’s stock worth $26,867,000 after acquiring an additional 51,398 shares during the period. Finally, QRG Capital Management Inc. boosted its holdings in shares of Gaming and Leisure Properties by 3.5% during the fourth quarter. QRG Capital Management Inc. now owns 152,426 shares of the real estate investment trust’s stock worth $7,341,000 after purchasing an additional 5,127 shares during the period. Institutional investors and hedge funds own 91.14% of the company’s stock.

About Gaming and Leisure Properties

Gaming & Leisure Properties, Inc engages in acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.