Traders Purchase High Volume of Put Options on Gaming and Leisure Properties (NASDAQ:GLPI)

Gaming and Leisure Properties Inc (NASDAQ:GLPI) saw some unusual options trading activity on Thursday. Traders bought 6,532 put options on the company. This represents an increase of 2,716% compared to the average volume of 232 put options.

A number of research analysts have commented on GLPI shares. TheStreet upgraded shares of Gaming and Leisure Properties from a “c” rating to a “b-” rating in a research note on Tuesday, June 9th. Nomura Securities upgraded shares of Gaming and Leisure Properties from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $45.00 to $29.00 in a research note on Wednesday, March 25th. Deutsche Bank dropped their price target on shares of Gaming and Leisure Properties from $46.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Wolfe Research assumed coverage on shares of Gaming and Leisure Properties in a research note on Wednesday, June 24th. They set an “outperform” rating and a $46.00 price target on the stock. Finally, SunTrust Banks dropped their price target on shares of Gaming and Leisure Properties from $56.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. Gaming and Leisure Properties presently has a consensus rating of “Buy” and a consensus price target of $39.64.

Several hedge funds and other institutional investors have recently made changes to their positions in GLPI. Paragon Capital Management LLC purchased a new stake in shares of Gaming and Leisure Properties in the first quarter valued at about $25,000. Parallel Advisors LLC lifted its holdings in shares of Gaming and Leisure Properties by 55.6% in the first quarter. Parallel Advisors LLC now owns 1,508 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 539 shares in the last quarter. Sowell Financial Services LLC lifted its holdings in shares of Gaming and Leisure Properties by 104.3% in the first quarter. Sowell Financial Services LLC now owns 1,622 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 828 shares in the last quarter. Keebeck Alpha LP purchased a new stake in shares of Gaming and Leisure Properties in the first quarter valued at about $228,000. Finally, Diversified Trust Co purchased a new stake in shares of Gaming and Leisure Properties in the first quarter valued at about $237,000. 86.95% of the stock is currently owned by institutional investors.

GLPI stock opened at $32.79 on Friday. The company has a market cap of $7.17 billion, a P/E ratio of 17.92, a P/E/G ratio of 1.71 and a beta of 0.99. Gaming and Leisure Properties has a 52 week low of $12.78 and a 52 week high of $49.99. The company’s 50-day moving average price is $36.25 and its 200 day moving average price is $36.61. The company has a current ratio of 9.92, a quick ratio of 9.92 and a debt-to-equity ratio of 3.20.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.40). The company had revenue of $283.50 million for the quarter, compared to analysts’ expectations of $283.61 million. Gaming and Leisure Properties had a return on equity of 18.91% and a net margin of 34.35%. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 EPS. On average, equities research analysts expect that Gaming and Leisure Properties will post 3.2 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Wednesday, May 13th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 7.32%. The ex-dividend date of this dividend was Tuesday, May 12th. Gaming and Leisure Properties’s dividend payout ratio is currently 13.95%.

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.

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