Mizuho Lowers Gaming and Leisure Properties (NASDAQ:GLPI) Price Target to $51.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target decreased by Mizuho from $52.00 to $51.00 in a research report report published on Thursday,Benzinga reports. Mizuho currently has a neutral rating on the real estate investment trust’s stock.

A number of other equities analysts have also issued reports on GLPI. Raymond James increased their price target on Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Wolfe Research raised Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 target price for the company in a research note on Friday, August 23rd. Royal Bank of Canada boosted their price target on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $52.00 price objective (up previously from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.54.

Gaming and Leisure Properties Trading Up 1.0 %

Gaming and Leisure Properties stock opened at $49.19 on Thursday. Gaming and Leisure Properties has a 52-week low of $41.80 and a 52-week high of $52.60. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $13.50 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 2.12 and a beta of 0.99. The firm has a 50-day moving average price of $50.74 and a two-hundred day moving average price of $48.22.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.25). The company had revenue of $385.34 million during the quarter, compared to analyst estimates of $385.09 million. Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 EPS. Sell-side analysts expect that Gaming and Leisure Properties will post 3.67 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 6.18%. The ex-dividend date of this dividend was Friday, September 13th. Gaming and Leisure Properties’s payout ratio is 106.29%.

Insider Buying and Selling at Gaming and Leisure Properties

In related news, CFO Desiree A. Burke sold 12,973 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $52.02, for a total transaction of $674,855.46. Following the transaction, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. The trade was a 10.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Brandon John Moore sold 30,900 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the completion of the transaction, the chief operating officer now owns 208,977 shares in the company, valued at approximately $10,459,298.85. This represents a 12.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,758 shares of company stock valued at $2,717,922 in the last three months. 4.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Gaming and Leisure Properties

Several institutional investors and hedge funds have recently modified their holdings of GLPI. State Street Corp raised its holdings in shares of Gaming and Leisure Properties by 1.4% during the third quarter. State Street Corp now owns 12,135,195 shares of the real estate investment trust’s stock worth $624,356,000 after acquiring an additional 162,484 shares in the last quarter. Geode Capital Management LLC increased its position in Gaming and Leisure Properties by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,080,860 shares of the real estate investment trust’s stock worth $312,316,000 after purchasing an additional 161,689 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Gaming and Leisure Properties by 6.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,534,033 shares of the real estate investment trust’s stock worth $284,726,000 after purchasing an additional 341,492 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Gaming and Leisure Properties by 9.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,104,552 shares of the real estate investment trust’s stock valued at $185,564,000 after buying an additional 350,250 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Gaming and Leisure Properties by 25.3% in the 3rd quarter. Jennison Associates LLC now owns 4,075,461 shares of the real estate investment trust’s stock valued at $209,682,000 after buying an additional 821,634 shares in the last quarter. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Company Profile

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.