Gaming and Leisure Properties (NASDAQ:GLPI) Hits New 1-Year High on Analyst Upgrade

Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) reached a new 52-week high on Monday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $47.00 to $48.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Gaming and Leisure Properties traded as high as $50.01 and last traded at $49.98, with a volume of 640492 shares changing hands. The stock had previously closed at $49.45.

A number of other research analysts also recently weighed in on GLPI. StockNews.com raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Friday, July 19th. Scotiabank raised their price objective on Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 16th. Wells Fargo & Company decreased their price objective on Gaming and Leisure Properties from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. JMP Securities reaffirmed a “market outperform” rating and issued a $53.00 price objective on shares of Gaming and Leisure Properties in a research note on Monday, July 15th. Finally, UBS Group raised their price objective on Gaming and Leisure Properties from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Gaming and Leisure Properties has an average rating of “Moderate Buy” and a consensus target price of $51.21.

Institutional Investors Weigh In On Gaming and Leisure Properties

Institutional investors and hedge funds have recently modified their holdings of the business. Foundations Investment Advisors LLC raised its position in Gaming and Leisure Properties by 4.9% during the 4th quarter. Foundations Investment Advisors LLC now owns 7,583 shares of the real estate investment trust’s stock valued at $352,000 after purchasing an additional 354 shares in the last quarter. Russell Investments Group Ltd. raised its position in Gaming and Leisure Properties by 27.4% during the 1st quarter. Russell Investments Group Ltd. now owns 309,882 shares of the real estate investment trust’s stock valued at $14,276,000 after purchasing an additional 66,601 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Gaming and Leisure Properties in the 4th quarter valued at $2,501,000. GraniteShares Advisors LLC purchased a new position in shares of Gaming and Leisure Properties in the 4th quarter valued at $1,473,000. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Gaming and Leisure Properties by 19.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 153,195 shares of the real estate investment trust’s stock valued at $7,560,000 after acquiring an additional 24,489 shares during the period. 91.14% of the stock is owned by institutional investors.

Gaming and Leisure Properties Trading Up 0.9 %

The company has a 50 day moving average of $45.43 and a two-hundred day moving average of $45.18. The company has a debt-to-equity ratio of 1.49, a quick ratio of 5.91 and a current ratio of 5.91. The stock has a market capitalization of $13.69 billion, a PE ratio of 18.36, a P/E/G ratio of 5.82 and a beta of 0.98.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.15). Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The business had revenue of $380.60 million for the quarter, compared to analysts’ expectations of $377.95 million. During the same quarter last year, the firm earned $0.92 earnings per share. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. Sell-side analysts predict that Gaming and Leisure Properties, Inc. will post 3.66 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a $0.76 dividend. The ex-dividend date was Friday, June 7th. This represents a $3.04 annualized dividend and a dividend yield of 6.09%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 112.18%.

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.