Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) to Issue $0.76 Quarterly Dividend

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) declared a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Investors of record on Friday, March 14th will be given a dividend of 0.76 per share by the real estate investment trust on Friday, March 28th. This represents a $3.04 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date is Friday, March 14th.

Gaming and Leisure Properties has increased its dividend by an average of 4.1% per year over the last three years. Gaming and Leisure Properties has a payout ratio of 95.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Gaming and Leisure Properties to earn $3.98 per share next year, which means the company should continue to be able to cover its $2.96 annual dividend with an expected future payout ratio of 74.4%.

Gaming and Leisure Properties Price Performance

Gaming and Leisure Properties stock opened at $49.11 on Friday. The firm has a market capitalization of $13.47 billion, a P/E ratio of 17.11, a PEG ratio of 2.01 and a beta of 0.99. Gaming and Leisure Properties has a one year low of $41.80 and a one year high of $52.60. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35. The business has a fifty day moving average price of $48.14 and a 200-day moving average price of $49.76.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 EPS for the quarter, topping 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 business had revenue of $389.62 million during the quarter, compared to the consensus estimate of $391.54 million. As a group, equities research analysts forecast that Gaming and Leisure Properties will post 3.81 EPS for the current year.

Insider Activity

In other Gaming and Leisure Properties news, SVP Matthew Demchyk sold 10,474 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $48.62, for a total transaction of $509,245.88. Following the completion of the sale, the senior vice president now owns 71,757 shares of the company’s stock, valued at $3,488,825.34. This represents a 12.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Brandon John Moore sold 3,982 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $47.84, for a total transaction of $190,498.88. Following the completion of the transaction, the chief operating officer now owns 278,634 shares in the company, valued at $13,329,850.56. The trade was a 1.41 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,222 shares of company stock valued at $1,624,947. 4.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $55.00 target price on shares of Gaming and Leisure Properties in a report on Wednesday, December 18th. Scotiabank reduced their price target on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. Morgan Stanley downgraded Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price objective on the stock. in a research report on Wednesday, January 15th. Mizuho reduced their target price on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Finally, Stifel Nicolaus raised their price target on Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a “buy” rating in a report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.93.

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.