Gaming and Leisure Properties (NASDAQ:GLPI) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Several other brokerages also recently weighed in on GLPI. Mizuho lowered their target price on Gaming and Leisure Properties from $50.00 to $47.00 and set a neutral rating on the stock in a research note on Thursday, March 7th. JMP Securities reiterated a market outperform rating and issued a $53.00 target price on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. Royal Bank of Canada lowered their target price on Gaming and Leisure Properties from $49.00 to $47.00 and set an outperform rating on the stock in a research note on Monday. Finally, Morgan Stanley lowered their target price on Gaming and Leisure Properties from $55.00 to $53.00 and set an overweight rating on the stock in a research note on Thursday, March 21st. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $51.91.

Gaming and Leisure Properties Price Performance

Shares of NASDAQ GLPI opened at $43.13 on Wednesday. The firm has a market capitalization of $11.71 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 5.40 and a beta of 0.94. Gaming and Leisure Properties has a fifty-two week low of $41.80 and a fifty-two week high of $51.91. The stock’s 50-day simple moving average is $44.73 and its 200-day simple moving average is $45.82. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.47 and a current ratio of 6.47.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.64 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.26). The firm had revenue of $376.00 million for the quarter, compared to analyst estimates of $368.44 million. Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the firm earned $0.92 EPS. As a group, equities research analysts forecast that Gaming and Leisure Properties will post 3.66 EPS for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 7.05%. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. The ex-dividend date was Thursday, March 14th. Gaming and Leisure Properties’s payout ratio is presently 112.18%.

Insiders Place Their Bets

In other news, Director E Scott Urdang bought 2,500 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the completion of the transaction, the director now owns 156,685 shares in the company, valued at $7,050,825. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by company insiders.

Institutional Trading of Gaming and Leisure Properties

A number of institutional investors have recently bought and sold shares of the company. Raleigh Capital Management Inc. boosted its position in Gaming and Leisure Properties by 3.0% during the third quarter. Raleigh Capital Management Inc. now owns 6,872 shares of the real estate investment trust’s stock worth $313,000 after purchasing an additional 203 shares in the last quarter. Moody National Bank Trust Division boosted its position in Gaming and Leisure Properties by 1.2% during the first quarter. Moody National Bank Trust Division now owns 19,068 shares of the real estate investment trust’s stock worth $878,000 after purchasing an additional 231 shares in the last quarter. Securian Asset Management Inc. boosted its position in Gaming and Leisure Properties by 1.3% during the fourth quarter. Securian Asset Management Inc. now owns 22,534 shares of the real estate investment trust’s stock worth $1,112,000 after purchasing an additional 289 shares in the last quarter. Arete Wealth Advisors LLC boosted its position in Gaming and Leisure Properties by 6.9% during the third quarter. Arete Wealth Advisors LLC now owns 4,602 shares of the real estate investment trust’s stock worth $210,000 after purchasing an additional 299 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings in shares of Gaming and Leisure Properties by 2.7% in the first quarter. Private Advisor Group LLC now owns 11,440 shares of the real estate investment trust’s stock worth $527,000 after acquiring an additional 299 shares during the last quarter. 91.14% of the stock is currently owned by hedge funds and other 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.