Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Receives Consensus Rating of “Moderate Buy” from Brokerages

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) has earned an average rating of “Moderate Buy” from the eleven research firms that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $52.09.

Several research analysts have recently weighed in on the stock. Mizuho lowered their price target on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. StockNews.com raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. JMP Securities reaffirmed a “market outperform” rating and issued a $53.00 target price on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. Morgan Stanley decreased their target price 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. Finally, Royal Bank of Canada decreased their target price on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th.

Gaming and Leisure Properties Trading Down 2.2 %

Shares of GLPI stock opened at $42.46 on Friday. The company’s 50-day moving average price is $44.87 and its 200-day moving average price is $45.91. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.48. The stock has a market cap of $11.53 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 5.43 and a beta of 0.94. Gaming and Leisure Properties has a twelve month low of $41.80 and a twelve month high of $52.31.

Gaming and Leisure Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 7.16%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. Gaming and Leisure Properties’s dividend payout ratio is currently 109.75%.

Insider Transactions at Gaming and Leisure Properties

In other news, Director E Scott Urdang bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the completion of the purchase, the director now owns 156,685 shares of the company’s stock, valued at $7,050,825. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Gaming and Leisure Properties

Several hedge funds have recently added to or reduced their stakes in GLPI. CWM LLC increased its stake in Gaming and Leisure Properties by 38.7% in the third quarter. CWM LLC now owns 1,954 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 545 shares during the last quarter. AE Wealth Management LLC boosted its holdings in shares of Gaming and Leisure Properties by 79.3% in the third quarter. AE Wealth Management LLC now owns 23,613 shares of the real estate investment trust’s stock valued at $1,076,000 after acquiring an additional 10,445 shares during the period. Ballentine Partners LLC acquired a new stake in shares of Gaming and Leisure Properties in the third quarter valued at approximately $416,000. Commonwealth Equity Services LLC boosted its holdings in shares of Gaming and Leisure Properties by 15.2% in the third quarter. Commonwealth Equity Services LLC now owns 22,433 shares of the real estate investment trust’s stock valued at $1,022,000 after acquiring an additional 2,957 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of Gaming and Leisure Properties by 0.9% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 121,200 shares of the real estate investment trust’s stock valued at $5,521,000 after acquiring an additional 1,100 shares during the period. 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.