Gaming and Leisure Properties (NASDAQ:GLPI) Reaches New 1-Year Low at $43.40

Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Get Free Report) hit a new 52-week low on Wednesday . The company traded as low as $43.40 and last traded at $43.70, with a volume of 573125 shares trading hands. The stock had previously closed at $45.99.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GLPI. JMP Securities restated a "market outperform" rating and issued a $53.00 price objective on shares of Gaming and Leisure Properties in a report on Monday, March 4th. Royal Bank of Canada dropped their price objective on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set an "outperform" rating for the company 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. JPMorgan Chase & Co. cut shares of Gaming and Leisure Properties from an "overweight" rating to a "neutral" rating and set a $48.00 price target for the company. in a report on Thursday, December 14th. Finally, Morgan Stanley lowered their price target on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an "overweight" rating for the company in a report on Thursday, March 21st. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $52.09.

Gaming and Leisure Properties Stock Down 5.9 %

The firm has a market cap of $11.75 billion, a PE ratio of 15.63, a P/E/G ratio of 5.68 and a beta of 0.94. The company has a debt-to-equity ratio of 1.48, a quick ratio of 7.41 and a current ratio of 7.41. The firm's 50-day moving average price is $45.43 and its two-hundred day moving average price is $46.10.

Gaming and Leisure Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 7.02%. The ex-dividend date 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 payout ratio is currently 109.75%.

Insider Transactions at Gaming and Leisure Properties

In related news, Director E Scott Urdang acquired 2,500 shares of Gaming and Leisure Properties stock in a transaction dated Friday, March 1st. The stock was acquired 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.40% of the company's stock.

Institutional Trading of Gaming and Leisure Properties

Several institutional investors and hedge funds have recently bought and sold shares of GLPI. Wellington Management Group LLP raised its position in Gaming and Leisure Properties by 40.8% in the 4th quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust's stock valued at $627,204,000 after purchasing an additional 3,684,553 shares during the last quarter. Norges Bank purchased a new stake in Gaming and Leisure Properties in the 4th quarter valued at $141,537,000. Bank of New York Mellon Corp raised its position in Gaming and Leisure Properties by 78.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,906,793 shares of the real estate investment trust's stock valued at $132,404,000 after purchasing an additional 1,278,566 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Gaming and Leisure Properties by 811.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,349,554 shares of the real estate investment trust's stock worth $70,260,000 after buying an additional 1,201,444 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Gaming and Leisure Properties by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 34,218,955 shares of the real estate investment trust's stock worth $1,605,894,000 after buying an additional 1,199,697 shares during the last quarter. Hedge funds and other institutional investors 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.