Gaming and Leisure Properties (NASDAQ:GLPI) Given New $47.00 Price Target at Royal Bank of Canada

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target lowered by Royal Bank of Canada from $49.00 to $47.00 in a research note released on Monday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the real estate investment trust’s stock.

Several other equities research analysts have also weighed in on GLPI. Mizuho cut their target price on Gaming and Leisure Properties from $50.00 to $47.00 and set a neutral rating on the stock in a research report on Thursday, March 7th. Morgan Stanley cut their target price on 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. StockNews.com raised Gaming and Leisure Properties from a hold rating to a buy rating in a research report on Thursday, February 29th. Finally, JMP Securities reissued a market outperform rating and set a $53.00 target price on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Gaming and Leisure Properties has a consensus rating of Moderate Buy and a consensus price target of $51.91.

Gaming and Leisure Properties Price Performance

GLPI stock opened at $43.20 on Monday. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.47 and a quick ratio of 6.47. The firm has a market capitalization of $11.73 billion, a P/E ratio of 15.94, a P/E/G ratio of 5.31 and a beta of 0.94. The business’s 50-day moving average is $44.78 and its two-hundred day moving average is $45.84. Gaming and Leisure Properties has a 1 year low of $41.80 and a 1 year high of $52.31.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). The company had revenue of $376.00 million during the quarter, compared to analyst estimates of $368.44 million. Gaming and Leisure Properties had a net margin of 50.05% and a return on equity of 16.79%. Gaming and Leisure Properties’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.92 EPS. Analysts anticipate that Gaming and Leisure Properties will post 3.66 earnings per share for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 7.04%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 112.18%.

Insider Buying and Selling

In related news, Director E Scott Urdang bought 2,500 shares of the stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the purchase, the director now owns 156,685 shares of the company’s stock, valued at approximately $7,050,825. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new position in shares of Gaming and Leisure Properties in the 4th quarter valued at approximately $2,501,000. GraniteShares Advisors LLC purchased a new position in shares of Gaming and Leisure Properties in the 4th quarter valued at approximately $1,473,000. Pacer Advisors Inc. boosted its stake in shares of Gaming and Leisure Properties by 107.4% in the fourth quarter. Pacer Advisors Inc. now owns 45,803 shares of the real estate investment trust’s stock valued at $2,260,000 after buying an additional 23,722 shares in the last quarter. Signature Wealth Management Group purchased a new stake in shares of Gaming and Leisure Properties in the fourth quarter valued at approximately $3,944,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Gaming and Leisure Properties in the fourth quarter valued at approximately $3,701,000. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Company Profile

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.