Gaming and Leisure Properties (NASDAQ:GLPI) Stock Crosses Above Fifty Day Moving Average After Analyst Downgrade

Key Points

• Shares crossed above the 50-day moving average, trading at $39.83 versus an average of $39.67, after Piper Sandler upgraded GLPI to Buy. Analysts’ consensus rating was Moderate Buy, with a $47.36 price target.
• GLPI reported quarterly EPS of $0.71, below the $0.80 consensus estimate, and revenue of $435.45 million, slightly under estimates. Revenue nevertheless rose 9.5% year over year.
• The REIT’s quarterly dividend was $0.82 per share, equivalent to an annualized yield of 8.2%; its reported payout ratio was 100.31%.

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Wednesday after Piper Sandler upgraded the stock to a buy rating. The stock has a fifty day moving average of $39.67 and traded as high as $39.95. Gaming and Leisure Properties shares last traded at $39.83, with a volume of 3,119,336 shares.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. lowered Gaming and Leisure Properties from an "overweight" rating to a "neutral" rating and set a $46.00 target price for the company. in a research report on Thursday, September 24th. UBS Group set a $49.00 price target on shares of Gaming and Leisure Properties in a report on Thursday, June 18th. Raymond James Financial restated an "outperform" rating and set a $47.00 price target on shares of Gaming and Leisure Properties in a report on Thursday, August 13th. Weiss Ratings downgraded shares of Gaming and Leisure Properties from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, August 12th. Finally, Stifel Nicolaus reduced 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 note on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.36.

Insider Buying and Selling

In other news, Director Earl C. Shanks acquired 10,000 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was purchased at an average price of $42.24 per share, for a total transaction of $422,400.00. Following the completion of the acquisition, the director directly owned 107,259 shares in the company, valued at $4,530,620.16. The trade was a 10.28% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 4.11% of the company's stock.

Institutional Trading of Gaming and Leisure Properties

Hedge funds have recently bought and sold shares of the business. Gen Wealth Partners Inc increased its position in shares of Gaming and Leisure Properties by 301.1% during the third quarter. Gen Wealth Partners Inc now owns 1,055 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 792 shares during the last quarter. AlphaCore Capital LLC boosted its position in Gaming and Leisure Properties by 104.3% in the third quarter. AlphaCore Capital LLC now owns 11,399 shares of the real estate investment trust's stock worth $433,000 after purchasing an additional 5,820 shares during the last quarter. University of Texas Texas AM Investment Management Co. boosted its position in Gaming and Leisure Properties by 38.7% in the third quarter. University of Texas Texas AM Investment Management Co. now owns 1,675 shares of the real estate investment trust's stock worth $64,000 after purchasing an additional 467 shares during the last quarter. StoneX Group Inc. bought a new position in Gaming and Leisure Properties in the 3rd quarter valued at $678,000. Finally, Parallel Advisors LLC grew its stake in Gaming and Leisure Properties by 83.3% in the 3rd quarter. Parallel Advisors LLC now owns 9,805 shares of the real estate investment trust's stock valued at $372,000 after purchasing an additional 4,455 shares during the period. Institutional investors and hedge funds own 91.14% of the company's stock.

Gaming and Leisure Properties Price Performance

The stock has a market cap of $11.59 billion, a P/E ratio of 12.18, a P/E/G ratio of 2.00 and a beta of 0.64. The business has a 50 day simple moving average of $39.67 and a 200-day simple moving average of $44.41. The company has a debt-to-equity ratio of 1.52, a quick ratio of 5.38 and a current ratio of 5.38.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.71 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). Gaming and Leisure Properties had a return on equity of 18.16% and a net margin of 55.71%. The company had revenue of $435.45 million during the quarter, compared to the consensus estimate of $436.30 million. During the same period last year, the firm posted $0.97 EPS. The company's revenue for the quarter was up 9.5% compared to the same quarter last year. On average, sell-side analysts forecast that Gaming and Leisure Properties, Inc. will post 4.03 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were paid a $0.82 dividend. The ex-dividend date was Friday, September 11th. This represents a $3.28 annualized dividend and a dividend yield of 8.2%. Gaming and Leisure Properties's payout ratio is presently 100.31%.

About Gaming and Leisure Properties

Gaming and Leisure Properties, Inc NASDAQ: GLPI is a real estate investment trust that owns and leases gaming and entertainment properties. The company primarily operates as a landlord, generating rental income through long-term agreements with casino operators rather than directly managing most of the gaming facilities located on its properties.

GLPI's portfolio includes casinos, resorts, racetracks and related entertainment facilities across the United States. Its leases are generally structured as triple-net agreements, under which tenants are typically responsible for property-level expenses such as maintenance, insurance and real estate taxes.

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