BidaskClub upgraded shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday, June 27th.
Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Gaming and Leisure Properties from a hold rating to a buy rating and set a $39.00 target price on the stock in a report on Tuesday, May 2nd. TheStreet raised shares of Gaming and Leisure Properties from a c+ rating to a b rating in a report on Monday, May 22nd. Ladenburg Thalmann Financial Services began coverage on shares of Gaming and Leisure Properties in a report on Friday, June 2nd. They set a buy rating and a $41.00 price objective on the stock. Finally, Deutsche Bank AG boosted their price objective on shares of Gaming and Leisure Properties from $36.00 to $37.00 and gave the stock a buy rating in a report on Friday, April 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $37.50.
Shares of Gaming and Leisure Properties (GLPI) opened at 37.07 on Tuesday. Gaming and Leisure Properties has a 1-year low of $29.32 and a 1-year high of $38.89.
Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Thursday, April 27th. The real estate investment trust reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The business had revenue of $242.71 million for the quarter, compared to the consensus estimate of $240.88 million. Gaming and Leisure Properties had a net margin of 38.01% and a return on equity of 16.42%. The business’s quarterly revenue was up 63.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 earnings per share. On average, equities analysts forecast that Gaming and Leisure Properties will post $1.81 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 16th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 6.69%. The ex-dividend date of this dividend was Wednesday, June 14th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 144.19%.
In other Gaming and Leisure Properties news, Director Barry F. Schwartz purchased 10,000 shares of Gaming and Leisure Properties stock in a transaction on Friday, June 16th. The shares were bought at an average price of $36.44 per share, with a total value of $364,400.00. Following the completion of the acquisition, the director now directly owns 14,804 shares of the company’s stock, valued at $539,457.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. 5.88% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in GLPI. Norges Bank acquired a new stake in shares of Gaming and Leisure Properties during the fourth quarter valued at about $53,235,000. Numeric Investors LLC increased its stake in shares of Gaming and Leisure Properties by 425.6% in the fourth quarter. Numeric Investors LLC now owns 43,100 shares of the real estate investment trust’s stock valued at $1,320,000 after buying an additional 34,900 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Gaming and Leisure Properties by 5.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 54,100 shares of the real estate investment trust’s stock valued at $1,657,000 after buying an additional 2,800 shares during the period. Boothbay Fund Management LLC acquired a new stake in shares of Gaming and Leisure Properties during the fourth quarter valued at about $258,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in Gaming and Leisure Properties by 9.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,331 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 291 shares in the last quarter. 90.26% of the stock is currently owned by institutional investors.
Gaming and Leisure Properties Company Profile
Gaming and Leisure Properties, Inc (GLPI) is a self-administered and self-managed Pennsylvania real estate investment trust (REIT). The Company is engaged in the business of acquiring, financing and owning real estate property to be leased to gaming operators in triple net lease arrangements. Its segments include GLP Capital, L.P.
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