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

Gaming and Leisure Properties (NASDAQ:GLPI) had its price target decreased by Mizuho from $52.00 to $51.00 in a 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 research analysts also recently weighed in on the company. Raymond James lifted their target price on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Royal Bank of Canada lifted their target price on 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. Wolfe Research raised Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus lifted their target price on Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a “buy” rating in a research report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Gaming and Leisure Properties has an average rating of “Moderate Buy” and an average target price of $52.54.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ:GLPI traded up $0.47 during midday trading on Thursday, hitting $49.19. The company’s stock had a trading volume of 942,310 shares, compared to its average volume of 1,313,291. The stock has a market capitalization of $13.50 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 2.11 and a beta of 0.99. The stock’s 50 day simple moving average is $50.78 and its 200 day simple moving average is $48.11. Gaming and Leisure Properties has a fifty-two week low of $41.80 and a fifty-two week high of $52.60. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35.

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

Gaming and Leisure Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.18%. The ex-dividend date was Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 106.29%.

Insider Activity

In other news, CFO Desiree A. Burke sold 12,973 shares of Gaming and Leisure Properties stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $52.02, for a total value of $674,855.46. Following the completion of the transaction, the chief financial officer now owns 108,073 shares in the company, valued at approximately $5,621,957.46. The trade was a 10.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director E Scott Urdang sold 6,885 shares of Gaming and Leisure Properties stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.16, for a total transaction of $345,351.60. Following the completion of the transaction, the director now owns 149,800 shares of the company’s stock, valued at $7,513,968. This trade represents a 4.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,758 shares of company stock worth $2,717,922. Insiders own 4.37% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Assetmark Inc. increased its stake in shares of Gaming and Leisure Properties by 2,547.6% in the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 535 shares during the period. Farther Finance Advisors LLC lifted its position in Gaming and Leisure Properties by 142.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 384 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Gaming and Leisure Properties in the 2nd quarter valued at about $31,000. EverSource Wealth Advisors LLC boosted its stake in shares of Gaming and Leisure Properties by 578.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 590 shares during the last quarter. Finally, EdgeRock Capital LLC acquired a new stake in shares of Gaming and Leisure Properties during the 2nd quarter worth approximately $33,000. Institutional investors 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.