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

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

Several other brokerages have also recently issued reports on GLPI. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $52.00 price objective (up previously from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft upped their price target on Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a report on Monday, July 29th. StockNews.com lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Raymond James boosted their target price 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. Finally, JMP Securities reiterated a “market outperform” rating and issued a $55.00 price target on shares of Gaming and Leisure Properties in a research report on Tuesday, October 29th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.54.

Gaming and Leisure Properties Price Performance

GLPI stock traded up $0.47 during trading on Thursday, hitting $49.19. The company had a trading volume of 942,310 shares, compared to its average volume of 1,313,291. The firm has a market capitalization of $13.50 billion, a price-to-earnings ratio of 17.04, a P/E/G ratio of 2.11 and a beta of 0.99. The business has a 50 day moving average of $50.78 and a 200 day moving average of $48.11. Gaming and Leisure Properties has a fifty-two week low of $41.80 and a fifty-two week high of $52.60. 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 (NASDAQ:GLPI) last posted its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share 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 analyst estimates 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 revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 EPS. As a group, research analysts predict 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. Stockholders of record on Friday, September 13th were issued a $0.76 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.18%. Gaming and Leisure Properties’s payout ratio is currently 106.29%.

Insider Buying and Selling

In related news, COO Brandon John Moore sold 30,900 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the completion of the sale, the chief operating officer now directly owns 208,977 shares in the company, valued at approximately $10,459,298.85. This trade represents a 12.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $151,170.00. Following the sale, the director now owns 146,800 shares of the company’s stock, valued at approximately $7,397,252. This represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,758 shares of company stock worth $2,717,922. Corporate insiders own 4.37% of the company’s stock.

Hedge Funds Weigh In On Gaming and Leisure Properties

Several hedge funds have recently bought and sold shares of the business. State Street Corp increased its position in Gaming and Leisure Properties by 1.4% during the third quarter. State Street Corp now owns 12,135,195 shares of the real estate investment trust’s stock worth $624,356,000 after buying an additional 162,484 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Gaming and Leisure Properties by 6.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,534,033 shares of the real estate investment trust’s stock worth $284,726,000 after buying an additional 341,492 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Gaming and Leisure Properties by 9.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,104,552 shares of the real estate investment trust’s stock worth $185,564,000 after buying an additional 350,250 shares during the last quarter. Jennison Associates LLC increased its position in Gaming and Leisure Properties by 25.3% during the third quarter. Jennison Associates LLC now owns 4,075,461 shares of the real estate investment trust’s stock worth $209,682,000 after buying an additional 821,634 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Gaming and Leisure Properties by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,327,466 shares of the real estate investment trust’s stock worth $171,198,000 after buying an additional 96,028 shares during the last quarter. 91.14% of the stock is owned by institutional investors and hedge funds.

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.