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

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

GLPI has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft increased their price objective on Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a research note on Monday, July 29th. StockNews.com lowered shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Monday, October 28th. JMP Securities reaffirmed a “market outperform” rating and set a $55.00 price objective on shares of Gaming and Leisure Properties in a research note on Tuesday, October 29th. Royal Bank of Canada increased their target price on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, Stifel Nicolaus boosted their price target on Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a “buy” rating in a report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and an average price target of $52.54.

Gaming and Leisure Properties Price Performance

GLPI stock opened at $49.19 on Thursday. The firm has a market cap of $13.50 billion, a P/E ratio of 17.20, a P/E/G ratio of 2.12 and a beta of 0.99. The firm’s fifty day moving average is $50.74 and its 200 day moving average is $48.19. Gaming and Leisure Properties has a 52 week low of $41.80 and a 52 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 announced its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $385.34 million for the quarter, compared to the consensus estimate of $385.09 million. During the same period last year, the business posted $0.92 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. Research analysts predict 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 issued a $0.76 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.04 dividend on an annualized basis and a yield of 6.18%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 106.29%.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 12,973 shares of the firm’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 completion of the transaction, the chief financial officer now owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. This trade represents a 10.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brandon John Moore sold 30,900 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $50.05, for a total value of $1,546,545.00. Following the completion of the sale, the chief operating officer now directly owns 208,977 shares in the company, valued at approximately $10,459,298.85. This represents a 12.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,758 shares of company stock valued at $2,717,922. 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. Mirae Asset Global Investments Co. Ltd. bought a new stake in Gaming and Leisure Properties during the 1st quarter valued at about $775,000. Russell Investments Group Ltd. increased its position in shares of Gaming and Leisure Properties by 27.4% during the first quarter. Russell Investments Group Ltd. now owns 309,882 shares of the real estate investment trust’s stock valued at $14,276,000 after acquiring an additional 66,601 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Gaming and Leisure Properties by 1.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 226,503 shares of the real estate investment trust’s stock worth $10,435,000 after acquiring an additional 3,154 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Gaming and Leisure Properties by 11.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 306,766 shares of the real estate investment trust’s stock valued at $14,133,000 after acquiring an additional 31,864 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Gaming and Leisure Properties during the 1st quarter valued at $610,000. 91.14% of the stock is currently owned by 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.