Gaming and Leisure Properties (NASDAQ:GLPI) Reaches New 12-Month Low at $42.12

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $42.12 and last traded at $42.16, with a volume of 122053 shares trading hands. The stock had previously closed at $42.81.

Analysts Set New Price Targets

Several brokerages have commented on GLPI. Royal Bank of Canada dropped their target price on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. Morgan Stanley decreased their price target on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $53.00 target price on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. StockNews.com raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Finally, Mizuho decreased their target price on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and an average price target of $52.09.

Gaming and Leisure Properties Price Performance

The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.48. The firm has a market cap of $11.46 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 5.37 and a beta of 0.94. The company’s 50-day moving average is $45.27 and its 200-day moving average is $46.05.

Gaming and Leisure Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.76 per share. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.04 annualized dividend and a dividend yield of 7.20%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 109.75%.

Insider Buying and Selling at Gaming and Leisure Properties

In related news, Director E Scott Urdang bought 2,500 shares of the business’s stock in a transaction on Friday, March 1st. The shares were purchased at an average price of $45.00 per share, for a total transaction of $112,500.00. Following the completion of the transaction, the director now directly owns 156,685 shares of the company’s stock, valued at approximately $7,050,825. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Gaming and Leisure Properties

A number of hedge funds have recently added to or reduced their stakes in the stock. Atlas Capital Advisors LLC raised its stake in shares of Gaming and Leisure Properties by 203.0% during the first quarter. Atlas Capital Advisors LLC now owns 512 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 343 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Gaming and Leisure Properties during the fourth quarter valued at $30,000. Operose Advisors LLC bought a new position in shares of Gaming and Leisure Properties during the third quarter valued at $32,000. EdgeRock Capital LLC bought a new position in shares of Gaming and Leisure Properties during the fourth quarter valued at $33,000. Finally, Mather Group LLC. bought a new position in shares of Gaming and Leisure Properties during the first quarter valued at $42,000. Institutional investors and hedge funds own 91.14% of the company’s stock.

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.