Gaming and Leisure Properties (NASDAQ:GLPI) Research Coverage Started at Citigroup

Citigroup started coverage on shares of Gaming and Leisure Properties (NASDAQ:GLPI) in a research report released on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $49.00 price objective on the real estate investment trust’s stock.

A number of other equities analysts have also recently commented on GLPI. Barclays dropped their target price on Gaming and Leisure Properties from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Tuesday, October 20th. Morgan Stanley lowered their price target on Gaming and Leisure Properties from $55.00 to $50.00 and set an “equal weight” rating for the company in a research report on Thursday, September 17th. JPMorgan Chase & Co. lowered shares of Gaming and Leisure Properties from an “overweight” rating to a “neutral” rating and set a $46.00 price objective for the company. in a research note on Thursday, September 24th. Stifel Nicolaus cut their price objective on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “hold” rating on the stock in a research report on Friday, July 31st. Finally, Piper Sandler raised shares of Gaming and Leisure Properties to a “buy” rating in a research note on Friday, October 2nd. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.36.

Gaming and Leisure Properties Price Performance

Shares of Gaming and Leisure Properties stock traded down $0.55 during trading hours on Wednesday, reaching $38.89. The company’s stock had a trading volume of 2,581,857 shares, compared to its average volume of 2,455,190. The firm has a 50 day moving average price of $39.54 and a 200-day moving average price of $44.34. Gaming and Leisure Properties has a one year low of $37.33 and a one year high of $49.95. The company has a debt-to-equity ratio of 1.52, a current ratio of 5.38 and a quick ratio of 5.38. The stock has a market cap of $11.31 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.64 and a beta of 0.64.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The business had revenue of $435.45 million during the quarter, compared to the consensus estimate of $436.30 million. Gaming and Leisure Properties had a net margin of 55.71% and a return on equity of 18.16%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.97 EPS. On average, analysts predict that Gaming and Leisure Properties will post 4.02 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 8.4%. The ex-dividend date was Friday, September 11th. Gaming and Leisure Properties’s dividend payout ratio is presently 100.31%.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director Earl C. Shanks purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was purchased at an average cost of $42.24 per share, with a total value of $422,400.00. Following the purchase, the director owned 107,259 shares of the company’s stock, valued at approximately $4,530,620.16. The trade was a 10.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.11% of the company’s stock.

Hedge Funds Weigh In On Gaming and Leisure Properties

Hedge funds have recently bought and sold shares of the business. Aberdeen Group plc lifted its position in shares of Gaming and Leisure Properties by 15.0% during the third quarter. Aberdeen Group plc now owns 129,361 shares of the real estate investment trust’s stock worth $4,912,000 after purchasing an additional 16,883 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Gaming and Leisure Properties by 13.9% in the third quarter. Allworth Financial LP now owns 86,281 shares of the real estate investment trust’s stock worth $3,276,000 after purchasing an additional 10,535 shares during the last quarter. Barr E S & Co. increased its stake in Gaming and Leisure Properties by 12.9% in the 3rd quarter. Barr E S & Co. now owns 249,670 shares of the real estate investment trust’s stock worth $9,480,000 after buying an additional 28,483 shares during the period. Maryland State Retirement & Pension System increased its stake in Gaming and Leisure Properties by 31.0% in the 3rd quarter. Maryland State Retirement & Pension System now owns 18,671 shares of the real estate investment trust’s stock worth $709,000 after buying an additional 4,418 shares during the period. Finally, Ritholtz Wealth Management purchased a new position in Gaming and Leisure Properties in the 3rd quarter worth about $449,000. 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 and leases gaming and entertainment properties. The company primarily operates as a landlord, generating rental income through long-term agreements with casino operators rather than directly managing most of the gaming facilities located on its properties.

GLPI’s portfolio includes casinos, resorts, racetracks and related entertainment facilities across the United States. Its leases are generally structured as triple-net agreements, under which tenants are typically responsible for property-level expenses such as maintenance, insurance and real estate taxes.