Gaming and Leisure Properties (NASDAQ:GLPI) Lowered to Hold at StockNews.com

StockNews.com lowered shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a buy rating to a hold rating in a research note issued to investors on Thursday.

A number of other analysts have also recently issued reports on the company. Mizuho decreased their target price on Gaming and Leisure Properties from $47.00 to $46.00 and set a neutral rating for the company in a report on Friday, May 10th. Morgan Stanley reiterated an overweight rating and set a $53.00 target price on shares of Gaming and Leisure Properties in a report on Friday, June 21st. Stifel Nicolaus boosted their target price on Gaming and Leisure Properties from $50.75 to $51.00 and gave the stock a buy rating in a report on Friday, May 17th. Wells Fargo & Company decreased their target price on Gaming and Leisure Properties from $49.00 to $48.00 and set an equal weight rating for the company in a report on Thursday, May 30th. Finally, Wedbush reiterated an outperform rating and set a $51.00 target price on shares of Gaming and Leisure Properties in a report on Friday, May 17th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $50.18.

Gaming and Leisure Properties Trading Up 3.7 %

NASDAQ GLPI opened at $46.80 on Thursday. Gaming and Leisure Properties has a 12 month low of $41.80 and a 12 month high of $50.06. The company has a 50-day moving average of $44.52 and a 200-day moving average of $45.24. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.47 and a quick ratio of 6.47. The company has a market cap of $12.71 billion, a P/E ratio of 17.27, a P/E/G ratio of 5.31 and a beta of 0.98.

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

Gaming and Leisure Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 6.50%. The ex-dividend date of this dividend was Friday, June 7th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 112.18%.

Hedge Funds Weigh In On Gaming and Leisure Properties

Several institutional investors and hedge funds have recently made changes to their positions in GLPI. Headlands Technologies LLC purchased a new position in shares of Gaming and Leisure Properties during the 4th quarter valued at approximately $30,000. EdgeRock Capital LLC purchased a new position in shares of Gaming and Leisure Properties during the 4th quarter valued at approximately $33,000. MCF Advisors LLC boosted its stake in shares of Gaming and Leisure Properties by 416.7% during the 1st quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 600 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Gaming and Leisure Properties by 18,500.0% during the 2nd quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 740 shares during the last quarter. Finally, Mather Group LLC. purchased a new position in shares of Gaming and Leisure Properties during the 1st quarter valued at approximately $42,000. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

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.