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

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) declared a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.76 per share by the real estate investment trust on Friday, March 28th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.19%. The ex-dividend date is Friday, March 14th.

Gaming and Leisure Properties has raised its dividend payment by an average of 4.1% per year over the last three years. Gaming and Leisure Properties has a dividend payout ratio of 95.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Gaming and Leisure Properties to earn $3.81 per share next year, which means the company should continue to be able to cover its $2.96 annual dividend with an expected future payout ratio of 77.7%.

Gaming and Leisure Properties Trading Down 0.6 %

Shares of GLPI stock traded down $0.28 during trading hours on Friday, reaching $49.11. 1,245,533 shares of the stock were exchanged, compared to its average volume of 988,416. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month 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. The company’s 50-day moving average price is $48.16 and its 200-day moving average price is $49.76. The firm has a market capitalization of $13.47 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.99 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The firm had revenue of $389.62 million during the quarter, compared to analysts’ expectations of $391.54 million. As a group, equities analysts anticipate that Gaming and Leisure Properties will post 3.67 earnings per share for the current year.

Wall Street Analyst Weigh In

GLPI has been the subject of several research reports. JPMorgan Chase & Co. raised shares of 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. Deutsche Bank Aktiengesellschaft upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $49.00 to $54.00 in a research note on Wednesday, November 20th. Morgan Stanley lowered shares of Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price objective for the company. in a research note on Wednesday, January 15th. Scotiabank reduced their price objective on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. Finally, Barclays initiated coverage on shares of Gaming and Leisure Properties in a research note on Tuesday, December 17th. They set an “equal weight” rating and a $54.53 price objective for the company. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Gaming and Leisure Properties has an average rating of “Moderate Buy” and an average price target of $53.93.

Insider Transactions at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, SVP Matthew Demchyk sold 17,617 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $49.40, for a total transaction of $870,279.80. Following the transaction, the senior vice president now owns 54,140 shares of the company’s stock, valued at approximately $2,674,516. This trade represents a 24.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Brandon John Moore sold 3,982 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $47.84, for a total value of $190,498.88. Following the transaction, the chief operating officer now directly owns 278,634 shares in the company, valued at approximately $13,329,850.56. The trade was a 1.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,222 shares of company stock worth $1,624,947 over the last ninety days. Company insiders own 4.37% 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.