Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Get Free Report)'s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $42.12 and last traded at $42.16, with a volume of 122053 shares changing hands. The stock had previously closed at $42.81.
Analysts Set New Price Targets
GLPI has been the subject of several recent research reports. Mizuho lowered their price objective on Gaming and Leisure Properties from $50.00 to $47.00 and set a "neutral" rating for the company in a research report on Thursday, March 7th. Morgan Stanley lowered their price objective on Gaming and Leisure Properties from $55.00 to $53.00 and set an "overweight" rating for the company in a research report on Thursday, March 21st. JMP Securities reissued a "market outperform" rating and set a $53.00 price objective on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. StockNews.com upgraded Gaming and Leisure Properties from a "hold" rating to a "buy" rating in a report on Thursday, February 29th. Finally, Royal Bank of Canada reduced their price target on 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. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $52.09.
View Our Latest Analysis on GLPI
Gaming and Leisure Properties Trading Down 1.7 %
The stock has a 50 day simple moving average of $45.21 and a 200-day simple moving average of $46.02. The firm has a market capitalization of $11.43 billion, a P/E ratio of 15.20, a P/E/G ratio of 5.37 and a beta of 0.94. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.48.
Gaming and Leisure Properties Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.76 per share. This is an increase from Gaming and Leisure Properties's previous quarterly dividend of $0.73. This represents a $3.04 dividend on an annualized basis and a dividend yield of 7.22%. The ex-dividend date was Thursday, March 14th. Gaming and Leisure Properties's payout ratio is currently 109.75%.
Insider Buying and Selling at Gaming and Leisure Properties
In other news, Director E Scott Urdang purchased 2,500 shares of the business's stock in a transaction on Friday, March 1st. The stock was acquired at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the purchase, the director now directly owns 156,685 shares in the company, valued at approximately $7,050,825. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 4.40% of the company's stock.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in GLPI. Atlas Capital Advisors LLC lifted its holdings in Gaming and Leisure Properties by 203.0% in the 1st quarter. Atlas Capital Advisors LLC now owns 512 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 343 shares in the last quarter. Headlands Technologies LLC purchased a new position in Gaming and Leisure Properties in the 4th quarter worth approximately $30,000. Operose Advisors LLC purchased a new position in Gaming and Leisure Properties in the 3rd quarter worth approximately $32,000. EdgeRock Capital LLC purchased a new position in Gaming and Leisure Properties in the 4th quarter worth approximately $33,000. Finally, MCF Advisors LLC lifted its holdings in Gaming and Leisure Properties by 416.7% in the 1st quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 600 shares in the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.
About Gaming and Leisure Properties
(
Get Free Report)
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.
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