Gaming and Leisure Properties (NASDAQ:GLPI) Hits New 1-Year High on Analyst Upgrade

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)’s stock price hit a new 52-week high during trading on Monday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $47.00 to $48.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Gaming and Leisure Properties traded as high as $50.01 and last traded at $49.98, with a volume of 640492 shares traded. The stock had previously closed at $49.45.

Several other brokerages have also commented on GLPI. Mizuho decreased their price target on Gaming and Leisure Properties from $47.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. UBS Group upped their target price on Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Wedbush reaffirmed an “outperform” rating and issued a $51.00 target price on shares of Gaming and Leisure Properties in a research note on Friday, May 17th. Stifel Nicolaus upped their target price on Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a “buy” rating in a research note on Friday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $53.00 target price on shares of Gaming and Leisure Properties in a research note on Monday, July 15th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.21.

Institutional Trading of Gaming and Leisure Properties

Large investors have recently added to or reduced their stakes in the stock. Foundations Investment Advisors LLC increased its holdings in Gaming and Leisure Properties by 4.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 7,583 shares of the real estate investment trust’s stock valued at $352,000 after purchasing an additional 354 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Gaming and Leisure Properties by 27.4% in the 1st quarter. Russell Investments Group Ltd. now owns 309,882 shares of the real estate investment trust’s stock valued at $14,276,000 after purchasing an additional 66,601 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Gaming and Leisure Properties in the 4th quarter valued at $2,501,000. GraniteShares Advisors LLC purchased a new position in Gaming and Leisure Properties in the 4th quarter valued at about $1,473,000. Finally, Treasurer of the State of North Carolina boosted its position in Gaming and Leisure Properties by 19.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 153,195 shares of the real estate investment trust’s stock valued at $7,560,000 after buying an additional 24,489 shares during the last quarter. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Gaming and Leisure Properties Trading Up 0.9 %

The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49. The business’s 50-day simple moving average is $45.43 and its two-hundred day simple moving average is $45.18. The company has a market capitalization of $13.69 billion, a PE ratio of 18.36, a PEG ratio of 5.82 and a beta of 0.98.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). The firm had revenue of $380.60 million during the quarter, compared to analysts’ expectations of $377.95 million. Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 earnings per share. On average, analysts predict that Gaming and Leisure Properties, Inc. will post 3.66 earnings per share for the current year.

Gaming and Leisure Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a $0.76 dividend. The ex-dividend date was Friday, June 7th. This represents a $3.04 dividend on an annualized basis and a yield of 6.09%. Gaming and Leisure Properties’s payout ratio is currently 112.18%.

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.