Gaming and Leisure Properties (NASDAQ:GLPI) Receives Market Outperform Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of Gaming and Leisure Properties (NASDAQ:GLPIFree Report) in a research note released on Thursday, Benzinga reports. The firm currently has a $53.00 price objective on the real estate investment trust’s stock.

Several other research firms have also weighed in on GLPI. Mizuho raised their price objective on Gaming and Leisure Properties from $47.00 to $49.00 and gave the company a neutral rating in a research note on Wednesday, January 10th. The Goldman Sachs Group started coverage on Gaming and Leisure Properties in a research note on Friday, December 8th. They issued a neutral rating and a $51.00 price objective on the stock. JPMorgan Chase & Co. lowered Gaming and Leisure Properties from an overweight rating to a neutral rating and set a $48.00 price objective on the stock. in a research note on Thursday, December 14th. Finally, Royal Bank of Canada reduced their price objective on Gaming and Leisure Properties from $54.00 to $50.00 and set an outperform rating on the stock in a research note on Monday, October 30th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $52.73.

Read Our Latest Stock Report on Gaming and Leisure Properties

Gaming and Leisure Properties Stock Up 0.2 %

GLPI stock opened at $45.39 on Thursday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market capitalization of $12.12 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 4.74 and a beta of 0.95. The business’s fifty day moving average price is $47.24 and its two-hundred day moving average price is $46.77. Gaming and Leisure Properties has a fifty-two week low of $43.54 and a fifty-two week high of $55.13.

Gaming and Leisure Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 8th were issued a $0.73 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $2.92 annualized dividend and a dividend yield of 6.43%. Gaming and Leisure Properties’s payout ratio is currently 106.57%.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, SVP Matthew Demchyk sold 25,391 shares of the stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $48.87, for a total transaction of $1,240,858.17. Following the transaction, the senior vice president now directly owns 57,976 shares in the company, valued at approximately $2,833,287.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 1,600 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $49.31, for a total value of $78,896.00. Following the completion of the sale, the chief financial officer now owns 147,710 shares in the company, valued at approximately $7,283,580.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Matthew Demchyk sold 25,391 shares of the stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $48.87, for a total value of $1,240,858.17. Following the completion of the sale, the senior vice president now owns 57,976 shares of the company’s stock, valued at approximately $2,833,287.12. The disclosure for this sale can be found here. Insiders have sold a total of 53,614 shares of company stock valued at $2,621,353 in the last 90 days. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Gaming and Leisure Properties

Several institutional investors and hedge funds have recently bought and sold shares of the business. Securian Asset Management Inc. lifted its holdings in Gaming and Leisure Properties by 1.3% in the 4th quarter. Securian Asset Management Inc. now owns 22,534 shares of the real estate investment trust’s stock worth $1,112,000 after buying an additional 289 shares during the period. Financial Advocates Investment Management purchased a new position in shares of Gaming and Leisure Properties in the 4th quarter valued at approximately $222,000. American National Bank purchased a new position in shares of Gaming and Leisure Properties in the 4th quarter valued at approximately $61,000. Quadrant Capital Group LLC lifted its stake in shares of Gaming and Leisure Properties by 49.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,620 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 867 shares during the period. Finally, Foundations Investment Advisors LLC lifted its stake in shares of Gaming and Leisure Properties by 4.9% in 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 during the period. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Gaming and Leisure Properties Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Gaming and Leisure Properties (NASDAQ:GLPI)

Receive News & Ratings for Gaming and Leisure Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gaming and Leisure Properties and related companies with MarketBeat.com's FREE daily email newsletter.