Gaming and Leisure Properties (NASDAQ:GLPI) Sets New 12-Month Low After Analyst Downgrade

Key Points

• Gaming and Leisure Properties fell to a new 52-week low of $39.92 after Scotiabank cut its price target from $50 to $49 while maintaining a sector-perform rating. Analysts’ consensus remains “Moderate Buy,” with an average price target of $48.73.
• Director Earl C. Shanks purchased 10,000 shares worth $422,400, increasing his holdings by 10.28%; institutional investors own 91.14% of the stock.
• GLPI reported quarterly EPS of $0.80, matching estimates, while revenue rose 9% year over year to $430.52 million. The REIT declared a quarterly dividend of $0.82 per share, representing an annualized yield of about 8.2%.

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Get Free Report) hit a new 52-week low during trading on Thursday after Scotiabank lowered their price target on the stock from $50.00 to $49.00. Scotiabank currently has a sector perform rating on the stock. Gaming and Leisure Properties traded as low as $39.92 and last traded at $39.9060, with a volume of 340369 shares traded. The stock had previously closed at $40.35.

GLPI has been the subject of a number of other research reports. Royal Bank Of Canada decreased their target price 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. JPMorgan Chase & Co. dropped their target price on Gaming and Leisure Properties from $53.00 to $51.00 and set an "overweight" rating on the stock in a report on Tuesday, June 30th. Barclays reduced their price target on Gaming and Leisure Properties from $53.00 to $50.00 and set an "overweight" rating for the company in a report on Wednesday, July 22nd. Stifel Nicolaus dropped their price target on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a "hold" rating on the stock in a research note on Friday, July 31st. Finally, Weiss Ratings cut shares of Gaming and Leisure Properties from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, August 12th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $48.73.

Insider Buying and Selling

In other Gaming and Leisure Properties news, Director Earl C. Shanks bought 10,000 shares of the firm's stock in a transaction on Tuesday, August 18th. The stock was 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 in the company, valued at $4,530,620.16. This represents a 10.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.11% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its position in Gaming and Leisure Properties by 29.9% in 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 purchasing an additional 108,741 shares during the period. National Pension Service grew its stake in shares of Gaming and Leisure Properties by 75.3% during 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 during the period. NewEdge Advisors LLC grew its stake in shares of Gaming and Leisure Properties by 267.6% during the 2nd quarter. NewEdge Advisors LLC now owns 26,939 shares of the real estate investment trust's stock valued at $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 during the 2nd quarter valued at about $5,736,000. Finally, Allworth Financial LP increased its position in shares of Gaming and Leisure Properties by 6.9% during the 2nd 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 during the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Stock Down 0.5%

The company's 50 day moving average price is $43.25 and its two-hundred day moving average price is $45.46. 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 stock has a market cap of $11.67 billion, a P/E ratio of 11.77, a PEG ratio of 1.70 and a beta of 0.65.

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

Gaming and Leisure Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be given a dividend of $0.82 per share. The ex-dividend date is Friday, September 11th. This represents a $3.28 annualized dividend and a yield of 8.2%. Gaming and Leisure Properties's payout ratio is 96.19%.

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.

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