Gaming and Leisure Properties (NASDAQ:GLPI) Hits New 12-Month Low - Here's Why

Key Points

• GLPI fell to a new 52-week low of $41.09, below its 50-day and 200-day moving averages. Several analysts recently reduced their price targets, although the consensus remains “Moderate Buy” with a $49.27 target.
• The REIT matched quarterly earnings expectations at $0.80 per share and exceeded revenue estimates with $430.52 million, but earnings declined from $0.96 a year earlier. Revenue increased 9% year over year.
• GLPI declared a quarterly dividend of $0.82 per share, equivalent to an annualized yield of about 8.0%; however, its 96.19% payout ratio signals limited earnings coverage. A company director also bought 10,000 shares, while institutional investors own 91.14% of the stock.

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Get Free Report)'s stock price reached a new 52-week low on Thursday . The stock traded as low as $41.09 and last traded at $41.1550, with a volume of 610050 shares changing hands. The stock had previously closed at $41.50.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GLPI shares. 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. Cantor Fitzgerald lowered their target price on shares of Gaming and Leisure Properties from $52.00 to $48.00 and set a "neutral" rating for the company in a report on Monday, August 10th. Royal Bank Of Canada dropped their price target on shares of Gaming and Leisure Properties from $54.00 to $52.00 and set an "outperform" rating for the company in a research note on Monday, August 3rd. Raymond James Financial reissued an "outperform" rating and issued a $47.00 price objective on shares of Gaming and Leisure Properties in a research report on Thursday, August 13th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Gaming and Leisure Properties from $53.00 to $51.00 and set an "overweight" rating for the company in a research note on Tuesday, June 30th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.27.

Gaming and Leisure Properties Stock Performance

The company has a current ratio of 4.74, a quick ratio of 4.74 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $11.97 billion, a PE ratio of 12.07, a PEG ratio of 1.74 and a beta of 0.65. The firm's 50-day simple moving average is $43.56 and its 200-day simple moving average is $45.72.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Gaming and Leisure Properties had a net margin of 59.01% and a return on equity of 19.17%. The firm had revenue of $430.52 million during the quarter, compared to the consensus estimate of $428.51 million. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The company's revenue was up 9.0% on a year-over-year basis. Gaming and Leisure Properties has set its FY 2026 guidance at 4.100-4.120 EPS. On average, research analysts predict that Gaming and Leisure Properties, Inc. will post 4.03 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $3.28 dividend on an annualized basis and a yield of 8.0%. Gaming and Leisure Properties's payout ratio is 96.19%.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director Earl C. Shanks purchased 10,000 shares of the company's stock in a transaction dated Tuesday, August 18th. The shares were acquired at an average price of $42.24 per share, with a total value of $422,400.00. Following the transaction, the director owned 107,259 shares of the company's stock, valued at $4,530,620.16. This represents a 10.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.11% of the company's stock.

Institutional Trading of Gaming and Leisure Properties

Several institutional investors and hedge funds have recently made changes to their positions in GLPI. The Manufacturers Life Insurance Company grew its holdings in Gaming and Leisure Properties by 29.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 472,446 shares of the real estate investment trust's stock worth $21,038,000 after acquiring an additional 108,741 shares in the last quarter. National Pension Service raised its holdings in shares of Gaming and Leisure Properties by 75.3% in the 2nd quarter. National Pension Service now owns 39,812 shares of the real estate investment trust's stock valued at $1,773,000 after purchasing an additional 17,097 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Gaming and Leisure Properties by 267.6% in the 2nd quarter. NewEdge Advisors LLC now owns 26,939 shares of the real estate investment trust's stock worth $1,200,000 after purchasing an additional 19,611 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Gaming and Leisure Properties in the 2nd quarter worth approximately $5,736,000. Finally, Allworth Financial LP boosted its stake in shares of Gaming and Leisure Properties by 6.9% during the second quarter. Allworth Financial LP now owns 75,746 shares of the real estate investment trust's stock valued at $3,373,000 after purchasing an additional 4,883 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors.

About Gaming and Leisure Properties

Gaming and Leisure Properties, Inc NASDAQ: GLPI is a real estate investment trust that owns, acquires and leases gaming-related properties. Its portfolio primarily consists of casinos and other properties used for gaming, entertainment and hospitality activities.

GLPI generally leases its properties to gaming operators under long-term, triple-net lease agreements. Under these arrangements, tenants typically operate the properties and are responsible for expenses such as maintenance, insurance and property taxes, while GLPI focuses on owning and managing the underlying real estate.

The company was established in 2013 through the spin-off of gaming properties from Penn National Gaming, now known as PENN Entertainment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.