Gaming and Leisure Properties (NASDAQ:GLPI) Price Target Lowered to $53.00 at Barclays

Gaming and Leisure Properties (NASDAQ:GLPI) had its price objective decreased by Barclays from $55.00 to $53.00 in a research note released on Tuesday,Benzinga reports. Barclays currently has an equal weight rating on the real estate investment trust’s stock.

GLPI has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and raised their price target for the stock from $49.00 to $54.00 in a research report on Wednesday, November 20th. Stifel Nicolaus raised their price target on Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley downgraded 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 report on Wednesday, January 15th. JMP Securities reiterated a “market outperform” rating and set a $55.00 price objective on shares of Gaming and Leisure Properties in a report on Wednesday, December 18th. Finally, Mizuho decreased their price objective on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.04.

Gaming and Leisure Properties Trading Down 0.1 %

NASDAQ:GLPI opened at $49.79 on Tuesday. Gaming and Leisure Properties has a 1-year low of $41.80 and a 1-year high of $52.60. The business’s 50-day moving average price is $48.36 and its two-hundred day moving average price is $49.79. 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 firm has a market capitalization of $13.68 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 2.01 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.01. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. The firm had revenue of $389.62 million for the quarter, compared to analyst estimates of $391.54 million. On average, equities analysts expect that Gaming and Leisure Properties will post 3.81 earnings per share for the current year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.76 per share. The ex-dividend date is Friday, March 14th. This represents a $3.04 annualized dividend and a dividend yield of 6.11%. Gaming and Leisure Properties’s dividend payout ratio is currently 105.92%.

Insider Transactions at Gaming and Leisure Properties

In related news, SVP Matthew Demchyk sold 1,149 shares of Gaming and Leisure Properties stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $47.80, for a total transaction of $54,922.20. Following the completion of the sale, the senior vice president now directly owns 91,620 shares of the company’s stock, valued at approximately $4,379,436. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Brandon John Moore sold 3,982 shares of Gaming and Leisure Properties stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $47.84, for a total value of $190,498.88. Following the sale, the chief operating officer now directly owns 278,634 shares of the company’s stock, valued at approximately $13,329,850.56. The trade was a 1.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 42,742 shares of company stock worth $2,101,682. 4.37% of the stock is owned by company insiders.

Institutional Trading of Gaming and Leisure Properties

Several hedge funds have recently added to or reduced their stakes in GLPI. Dodge & Cox raised its holdings in Gaming and Leisure Properties by 75.3% in the 4th quarter. Dodge & Cox now owns 13,498,634 shares of the real estate investment trust’s stock valued at $650,094,000 after acquiring an additional 5,797,299 shares in the last quarter. Franklin Resources Inc. grew its position in Gaming and Leisure Properties by 4.7% during the 4th quarter. Franklin Resources Inc. now owns 12,830,944 shares of the real estate investment trust’s stock worth $617,938,000 after acquiring an additional 571,720 shares during the last quarter. State Street Corp grew its position in Gaming and Leisure Properties by 1.4% during the 3rd quarter. State Street Corp now owns 12,135,195 shares of the real estate investment trust’s stock worth $624,356,000 after acquiring an additional 162,484 shares during the last quarter. Geode Capital Management LLC grew its position in Gaming and Leisure Properties by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 6,245,884 shares of the real estate investment trust’s stock worth $300,395,000 after acquiring an additional 165,024 shares during the last quarter. Finally, Jennison Associates LLC grew its position in shares of Gaming and Leisure Properties by 5.2% in the 4th quarter. Jennison Associates LLC now owns 4,287,118 shares of the real estate investment trust’s stock valued at $206,468,000 after buying an additional 211,657 shares during the last quarter. 91.14% of the stock is owned by institutional investors and hedge funds.

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.