Gaming and Leisure Properties, Inc. (GLPI) To Go Ex-Dividend on December 6th

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) declared a quarterly dividend on Monday, November 25th,Wall Street Journal reports. Stockholders of record on Friday, December 6th will be given a dividend of 0.76 per share by the real estate investment trust on Friday, December 20th. This represents a $3.04 annualized dividend and a dividend yield of 5.88%. The ex-dividend date is Friday, December 6th.

Gaming and Leisure Properties has raised its dividend by an average of 5.8% annually over the last three years. Gaming and Leisure Properties has a dividend payout ratio of 101.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Gaming and Leisure Properties to earn $3.80 per share next year, which means the company should continue to be able to cover its $3.04 annual dividend with an expected future payout ratio of 80.0%.

Gaming and Leisure Properties Stock Up 1.0 %

GLPI traded up $0.49 on Wednesday, hitting $51.66. 737,014 shares of the company were exchanged, compared to its average volume of 1,311,664. The firm has a 50-day moving average price of $50.55 and a two-hundred day moving average price of $48.56. 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 has a twelve month low of $41.80 and a twelve month high of $52.60. The company has a market cap of $14.17 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 2.18 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results 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). Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The firm had revenue of $385.34 million during the quarter, compared to analyst estimates of $385.09 million. During the same period last year, the business earned $0.92 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, equities analysts predict that Gaming and Leisure Properties will post 3.67 earnings per share for the current year.

Insider Buying and Selling at Gaming and Leisure Properties

In related news, CFO Desiree A. Burke sold 12,973 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $52.02, for a total value of $674,855.46. Following the sale, the chief financial officer now owns 108,073 shares in the company, valued at $5,621,957.46. This represents a 10.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director E Scott Urdang sold 3,000 shares of the business’s 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 in the company, valued at approximately $7,397,252. The trade was a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,858 shares of company stock valued at $1,171,377. 4.37% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GLPI has been the subject of a number of research analyst reports. Wolfe Research raised Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price target for the company in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and increased their target price for the company from $49.00 to $54.00 in a research report on Wednesday, November 20th. Raymond James boosted their price target on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. StockNews.com lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, JMP Securities reissued a “market outperform” rating and issued a $55.00 target price on shares of Gaming and Leisure Properties in a report on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Gaming and Leisure Properties has an average rating of “Moderate Buy” and an average target price of $53.32.

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.