Gaming and Leisure Properties (NASDAQ:GLPI) Stock Price Breaks Above 50-Day Moving Average - What's Next?

Key Points

• GLPI shares moved above their 50-day moving average, trading at $39.34 versus the average of $39.24, but remained below the 200-day average of $44.19.
• Analysts give the stock a “Moderate Buy” consensus with an average target price of $47.36; nine rate it Buy and seven Hold. Recent quarterly EPS of $0.71 missed the $0.80 estimate, while revenue rose 9.5% year over year.
• The REIT pays an annualized dividend of $3.28 per share, representing an 8.3% yield; its reported payout ratio was 100.31%.

Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Get Free Report) crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $39.24 and traded as high as $39.54. Gaming and Leisure Properties shares last traded at $39.34, with a volume of 2,718,311 shares.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wells Fargo & Company reduced their target price on Gaming and Leisure Properties from $43.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Monday, October 19th. Piper Sandler raised shares of Gaming and Leisure Properties to a "buy" rating in a research report on Friday, October 2nd. Weiss Ratings downgraded shares of Gaming and Leisure Properties from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, October 8th. Raymond James Financial reaffirmed an "outperform" rating and set a $47.00 target price on shares of Gaming and Leisure Properties in a research report on Thursday, August 13th. Finally, Morgan Stanley reduced their price objective on Gaming and Leisure Properties from $55.00 to $50.00 and set an "equal weight" rating on the stock in a report on Thursday, September 17th. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Gaming and Leisure Properties currently has an average rating of "Moderate Buy" and a consensus target price of $47.36.

Gaming and Leisure Properties Trading Up 0.6%

The stock has a market cap of $11.44 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 2.00 and a beta of 0.64. The company has a debt-to-equity ratio of 1.52, a current ratio of 5.38 and a quick ratio of 5.38. The company's fifty day moving average price is $39.24 and its 200-day moving average price is $44.19.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last released its earnings results on Thursday, October 29th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $436.30 million. During the same period in the prior year, the firm posted $0.97 EPS. The firm's revenue for the quarter was up 9.5% on a year-over-year basis. On average, research analysts expect that Gaming and Leisure Properties, Inc. will post 4.02 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 8.3%. The ex-dividend date was Friday, September 11th. Gaming and Leisure Properties's payout ratio is presently 100.31%.

Insider Activity

In other news, Director Earl C. Shanks bought 10,000 shares of Gaming and Leisure Properties stock in a transaction that occurred on Tuesday, August 18th. The stock was bought at an average price of $42.24 per share, for a total transaction of $422,400.00. Following the purchase, the director directly owned 107,259 shares of the company's stock, valued at approximately $4,530,620.16. The trade was a 10.28% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gaming and Leisure Properties

Large investors have recently bought and sold shares of the company. Pension & Wealth Management Advisors Inc. purchased a new position in shares of Gaming and Leisure Properties during the third quarter worth $29,000. Markowski Investments acquired a new position in Gaming and Leisure Properties in the second quarter valued at approximately $35,000. Parkside Financial Bank & Trust lifted its holdings in Gaming and Leisure Properties by 115.2% in the second quarter. Parkside Financial Bank & Trust now owns 794 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 425 shares during the period. Root Financial Partners LLC acquired a new position in Gaming and Leisure Properties in the third quarter valued at approximately $30,000. Finally, Mather Group LLC. boosted its position in Gaming and Leisure Properties by 54.2% in the 3rd quarter. Mather Group LLC. now owns 799 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 91.14% of the company's stock.

About Gaming and Leisure Properties

Gaming and Leisure Properties, Inc. NASDAQ: GLPI is a real estate investment trust focused on owning properties used by gaming and leisure businesses. The company leases its properties to casino operators, which generally manage the gaming and hospitality operations. GLPI was established in 2013 as a spin-off from Penn National Gaming, now known as PENN Entertainment. Its portfolio includes casino and related entertainment properties in multiple U.S. states, and the company grows through property acquisitions, lease arrangements and development financing.

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