Gaming and Leisure Properties (NASDAQ:GLPI) PT Lowered to $47.00 at Royal Bank of Canada

Gaming and Leisure Properties (NASDAQ:GLPI - Free Report) had its price objective trimmed by Royal Bank of Canada from $49.00 to $47.00 in a report released on Monday, Benzinga reports. The firm currently has an outperform rating on the real estate investment trust's stock.

GLPI has been the topic of several other research reports. JMP Securities reissued a market outperform rating and issued a $53.00 price target 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 research report on Thursday, February 29th. Mizuho cut their price target on Gaming and Leisure Properties from $50.00 to $47.00 and set a neutral rating for the company in a report on Thursday, March 7th. Finally, Morgan Stanley decreased their price objective on Gaming and Leisure Properties from $55.00 to $53.00 and set an overweight rating on the stock in a research note on Thursday, March 21st. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $51.91.

Gaming and Leisure Properties Stock Performance

NASDAQ:GLPI traded up $0.74 during trading hours on Monday, reaching $43.20. The stock had a trading volume of 1,344,398 shares, compared to its average volume of 1,411,044. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $52.31. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.47 and a current ratio of 6.47. The stock has a 50 day simple moving average of $44.78 and a 200 day simple moving average of $45.84. The stock has a market cap of $11.73 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 5.31 and a beta of 0.94.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.26). The firm had revenue of $376.00 million during the quarter, compared to analysts' expectations of $368.44 million. Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. The company's revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business posted $0.92 EPS. On average, research analysts forecast that Gaming and Leisure Properties will post 3.66 EPS for the current fiscal year.

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. This represents a $3.04 annualized dividend and a yield of 7.04%. This is a boost from Gaming and Leisure Properties's previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Thursday, March 14th. Gaming and Leisure Properties's payout ratio is presently 112.18%.

Insiders Place Their Bets

In other Gaming and Leisure Properties news, Director E Scott Urdang purchased 2,500 shares of the company's stock in a transaction dated Friday, March 1st. The stock was 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 in the company, valued at approximately $7,050,825. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.40% of the company's stock.

Institutional Trading of Gaming and Leisure Properties

Institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC lifted its stake in Gaming and Leisure Properties by 38.7% during the third quarter. CWM LLC now owns 1,954 shares of the real estate investment trust's stock worth $89,000 after purchasing an additional 545 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Gaming and Leisure Properties by 15.2% during the third quarter. Commonwealth Equity Services LLC now owns 22,433 shares of the real estate investment trust's stock valued at $1,022,000 after acquiring an additional 2,957 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Gaming and Leisure Properties by 0.9% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 121,200 shares of the real estate investment trust's stock worth $5,521,000 after acquiring an additional 1,100 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Gaming and Leisure Properties by 229.7% in the 3rd quarter. Xponance Inc. now owns 33,025 shares of the real estate investment trust's stock worth $1,504,000 after acquiring an additional 23,007 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Gaming and Leisure Properties by 2.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 67,917 shares of the real estate investment trust's stock valued at $3,094,000 after purchasing an additional 1,623 shares in 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.