Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Plans $0.76 Quarterly Dividend

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) announced a quarterly dividend on Monday, November 25th,Wall Street Journal reports. Investors of record on Friday, December 6th will be given a dividend of 0.76 per share by the real estate investment trust on Friday, December 20th. This represents a $3.04 dividend on an annualized basis and a yield of 5.95%. The ex-dividend date is Friday, December 6th.

Gaming and Leisure Properties has raised its dividend by an average of 5.8% annually over the last three years. Gaming and Leisure Properties has a dividend payout ratio of 101.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Gaming and Leisure Properties to earn $3.80 per share next year, which means the company should continue to be able to cover its $3.04 annual dividend with an expected future payout ratio of 80.0%.

Gaming and Leisure Properties Trading Down 0.5 %

GLPI opened at $51.09 on Wednesday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. The stock’s 50 day moving average price is $50.60 and its 200-day moving average price is $48.77. Gaming and Leisure Properties has a one year low of $41.80 and a one year high of $52.60. The stock has a market cap of $14.02 billion, a price-to-earnings ratio of 17.86, a P/E/G ratio of 2.18 and a beta of 0.98.

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). The company 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 company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.92 EPS. On average, equities analysts forecast that Gaming and Leisure Properties will post 3.67 EPS for the current year.

Insider Transactions at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 3,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $50.39, for a total transaction of $151,170.00. Following the completion of the sale, the director now owns 146,800 shares in the company, valued at approximately $7,397,252. This represents a 2.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and issued a $55.00 price target on shares of Gaming and Leisure Properties in a report on Tuesday, October 29th. StockNews.com cut Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Raymond James increased their price target on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Wells Fargo & Company restated an “equal weight” rating and issued a $52.00 price objective (up from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Finally, Mizuho lowered their price objective on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and a consensus price target of $53.32.

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.