Gaming and Leisure Properties (NASDAQ:GLPI) Price Target Cut to $51.00 by Analysts at Mizuho

Gaming and Leisure Properties (NASDAQ:GLPI) had its target price cut by Mizuho from $52.00 to $51.00 in a research note published on Thursday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other research firms have also commented on GLPI. StockNews.com lowered shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Wolfe Research raised shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 target price for the company in a report on Friday, August 23rd. Royal Bank of Canada lifted their price target on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price objective on 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, Stifel Nicolaus lifted their target price on 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. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.54.

Gaming and Leisure Properties Trading Up 1.0 %

Shares of GLPI stock opened at $49.19 on Thursday. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $52.60. The stock has a market capitalization of $13.50 billion, a P/E ratio of 17.20, a P/E/G ratio of 2.12 and a beta of 0.99. The firm’s 50 day moving average is $50.74 and its 200 day moving average is $48.19.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). The firm had revenue of $385.34 million during the quarter, compared to analysts’ expectations of $385.09 million. Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned $0.92 earnings per share. Research analysts expect that Gaming and Leisure Properties will post 3.67 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, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 6.18%. The ex-dividend date was Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 106.29%.

Insiders Place Their Bets

In other news, Director E Scott Urdang sold 3,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $50.39, for a total value of $151,170.00. Following the transaction, the director now owns 146,800 shares of the company’s stock, valued at approximately $7,397,252. The trade was a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Desiree A. Burke sold 12,973 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $52.02, for a total transaction of $674,855.46. Following the transaction, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at $5,621,957.46. The trade was a 10.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,758 shares of company stock worth $2,717,922 in the last three months. 4.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Gaming and Leisure Properties

Large investors have recently made changes to their positions in the company. Assetmark Inc. grew its holdings in shares of Gaming and Leisure Properties by 2,547.6% in the third quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 535 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Gaming and Leisure Properties in the 2nd quarter worth $31,000. EdgeRock Capital LLC bought a new stake in Gaming and Leisure Properties during the second quarter worth approximately $33,000. Versant Capital Management Inc increased its position 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 purchasing an additional 740 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in Gaming and Leisure Properties by 142.2% during the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 384 shares during the last quarter. 91.14% of the stock is 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.