Brokerages Set Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) PT at $52.50

Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) have received an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $52.50.

Several analysts have issued reports on the stock. Morgan Stanley dropped their price target on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. Royal Bank of Canada decreased their price objective on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. StockNews.com upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Mizuho decreased their price objective on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, March 7th. Finally, The Goldman Sachs Group initiated coverage on shares of Gaming and Leisure Properties in a report on Friday, December 8th. They issued a “neutral” rating and a $51.00 price objective on the stock.

Gaming and Leisure Properties Stock Performance

NASDAQ GLPI opened at $45.12 on Tuesday. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.48. The firm’s fifty day moving average price is $45.50 and its two-hundred day moving average price is $46.18. Gaming and Leisure Properties has a 1 year low of $43.54 and a 1 year high of $52.45. The firm has a market capitalization of $12.25 billion, a P/E ratio of 16.29, a price-to-earnings-growth ratio of 5.66 and a beta of 0.94.

Gaming and Leisure Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.76 per share. The ex-dividend date was Thursday, March 14th. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 annualized dividend and a yield of 6.74%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 109.75%.

Insider Transactions at Gaming and Leisure Properties

In other news, Director E Scott Urdang purchased 2,500 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were purchased at an average price of $45.00 per share, for a total transaction of $112,500.00. Following the transaction, the director now owns 156,685 shares of the company’s stock, valued at $7,050,825. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. lifted its position in shares of Gaming and Leisure Properties by 107.4% in the 4th quarter. Pacer Advisors Inc. now owns 45,803 shares of the real estate investment trust’s stock worth $2,260,000 after purchasing an additional 23,722 shares during the period. Signature Wealth Management Group acquired a new position in shares of Gaming and Leisure Properties in the 4th quarter worth approximately $3,944,000. Securian Asset Management Inc. bought a new stake in shares of Gaming and Leisure Properties in the 3rd quarter valued at $1,013,000. Korea Investment CORP increased its stake in shares of Gaming and Leisure Properties by 30.2% in the 3rd quarter. Korea Investment CORP now owns 58,774 shares of the real estate investment trust’s stock valued at $2,677,000 after acquiring an additional 13,627 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Gaming and Leisure Properties by 3.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,513,781 shares of the real estate investment trust’s stock valued at $114,419,000 after acquiring an additional 79,673 shares in the last quarter. Institutional investors and hedge funds own 91.14% of the company’s stock.

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.