Scotiabank Cuts Gaming and Leisure Properties (NASDAQ:GLPI) Price Target to $49.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its price objective cut by Scotiabank from $50.00 to $49.00 in a report released on Thursday morning, MarketBeat Ratings reports. They currently have a sector perform rating on the real estate investment trust’s stock.

A number of other equities analysts have also issued reports on the stock. Raymond James Financial restated an “outperform” rating and set a $47.00 target price on shares of Gaming and Leisure Properties in a research report on Thursday, August 13th. Cantor Fitzgerald decreased their price target on shares of Gaming and Leisure Properties from $52.00 to $48.00 and set a “neutral” rating for the company in a research note on Monday, August 10th. JPMorgan Chase & Co. lowered their price objective on shares of Gaming and Leisure Properties from $53.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 30th. Weiss Ratings cut shares of Gaming and Leisure Properties from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 12th. Finally, UBS Group set a $49.00 target price on shares of Gaming and Leisure Properties in a report on Thursday, June 18th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and an average target price of $48.73.

Gaming and Leisure Properties Trading Down 1.3%

NASDAQ GLPI opened at $39.59 on Thursday. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.74 and a quick ratio of 4.74. The firm’s fifty day moving average price is $43.12 and its 200 day moving average price is $45.35. The company has a market capitalization of $11.52 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 1.65 and a beta of 0.65. Gaming and Leisure Properties has a 12 month low of $39.48 and a 12 month high of $49.95.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. Gaming and Leisure Properties had a net margin of 59.01% and a return on equity of 19.17%. The firm had revenue of $430.52 million during the quarter, compared to analysts’ expectations of $428.51 million. During the same period in the previous year, the company earned $0.96 earnings per share. Gaming and Leisure Properties’s quarterly revenue was up 9.0% compared to the same quarter last year. Gaming and Leisure Properties has set its FY 2026 guidance at 4.100-4.120 EPS. On average, sell-side analysts expect that Gaming and Leisure Properties will post 4.03 earnings per share for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued a $0.82 dividend. The ex-dividend date is Friday, September 11th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 8.3%. Gaming and Leisure Properties’s dividend payout ratio is currently 96.19%.

Insider Transactions at Gaming and Leisure Properties

In other news, Director Earl C. Shanks bought 10,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were bought at an average cost of $42.24 per share, for a total transaction of $422,400.00. Following the completion of the transaction, the director owned 107,259 shares in the company, valued at $4,530,620.16. This trade represents a 10.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.11% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its stake in Gaming and Leisure Properties by 29.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 472,446 shares of the real estate investment trust’s stock valued at $21,038,000 after acquiring an additional 108,741 shares during the last quarter. National Pension Service raised its position in Gaming and Leisure Properties by 75.3% during the second quarter. National Pension Service now owns 39,812 shares of the real estate investment trust’s stock worth $1,773,000 after acquiring an additional 17,097 shares during the last quarter. NewEdge Advisors LLC raised its position in Gaming and Leisure Properties by 267.6% during the second quarter. NewEdge Advisors LLC now owns 26,939 shares of the real estate investment trust’s stock worth $1,200,000 after acquiring an additional 19,611 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Gaming and Leisure Properties in the second quarter valued at about $5,736,000. Finally, Allworth Financial LP lifted its holdings in shares of Gaming and Leisure Properties by 6.9% in the second quarter. Allworth Financial LP now owns 75,746 shares of the real estate investment trust’s stock valued at $3,373,000 after purchasing an additional 4,883 shares in the last quarter. Hedge funds and other institutional investors own 91.14% of the company’s stock.

About Gaming and Leisure Properties

Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust that owns, acquires and leases gaming-related properties. Its portfolio primarily consists of casinos and other properties used for gaming, entertainment and hospitality activities.

GLPI generally leases its properties to gaming operators under long-term, triple-net lease agreements. Under these arrangements, tenants typically operate the properties and are responsible for expenses such as maintenance, insurance and property taxes, while GLPI focuses on owning and managing the underlying real estate.

The company was established in 2013 through the spin-off of gaming properties from Penn National Gaming, now known as PENN Entertainment.