Royal Bank of Canada Trims Gaming and Leisure Properties (NASDAQ:GLPI) Target Price to $47.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target cut by Royal Bank of Canada from $49.00 to $47.00 in a report issued on Monday morning, Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

Other analysts also recently issued reports about the company. Mizuho decreased their price target on Gaming and Leisure Properties from $50.00 to $47.00 and set a neutral rating for the company in a report on Thursday, March 7th. JMP Securities reaffirmed a market outperform rating and issued a $53.00 price objective on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. StockNews.com raised Gaming and Leisure Properties from a hold rating to a buy rating in a research report on Thursday, February 29th. Finally, Morgan Stanley lowered their price objective on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an overweight rating on the stock in a research report on Thursday, March 21st. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $51.91.

Gaming and Leisure Properties Stock Up 0.9 %

NASDAQ:GLPI opened at $43.13 on Monday. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.47 and a quick ratio of 6.47. Gaming and Leisure Properties has a one year low of $41.80 and a one year high of $51.91. The firm’s 50 day simple moving average is $44.73 and its 200 day simple moving average is $45.82. The company has a market cap of $11.71 billion, a PE ratio of 15.92, a P/E/G ratio of 5.40 and a beta of 0.94.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.26). The business had revenue of $376.00 million during the quarter, compared to the consensus estimate of $368.44 million. Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 EPS. On average, research analysts anticipate that Gaming and Leisure Properties will post 3.66 earnings per share for the current year.

Gaming and Leisure Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.76 dividend. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 dividend on an annualized basis and a dividend yield of 7.05%. The ex-dividend date was Thursday, March 14th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 112.18%.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director E Scott Urdang acquired 2,500 shares of Gaming and Leisure Properties stock in a transaction that occurred on Friday, March 1st. The stock was bought at an average price of $45.00 per share, with a total value of $112,500.00. Following the completion of the purchase, the director now owns 156,685 shares in the company, valued at $7,050,825. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Gaming and Leisure Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new position in shares of Gaming and Leisure Properties during the fourth quarter worth about $30,000. Operose Advisors LLC purchased a new position in Gaming and Leisure Properties in the 3rd quarter worth approximately $32,000. EdgeRock Capital LLC purchased a new position in shares of Gaming and Leisure Properties in the fourth quarter worth $33,000. MCF Advisors LLC increased its position in shares of Gaming and Leisure Properties by 416.7% in the first quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 600 shares during the period. Finally, Mather Group LLC. purchased a new position in Gaming and Leisure Properties during the 1st quarter valued at about $42,000. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

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.