Gaming and Leisure Properties’ (GLPI) “Overweight” Rating Reiterated at Morgan Stanley

Morgan Stanley reiterated their overweight rating on shares of Gaming and Leisure Properties (NASDAQ:GLPIFree Report) in a report released on Friday, Benzinga reports. Morgan Stanley currently has a $53.00 price objective on the real estate investment trust’s stock.

GLPI has been the subject of a number of other research reports. Wells Fargo & Company lowered their target price on Gaming and Leisure Properties from $49.00 to $48.00 and set an equal weight rating for the company in a research note on Thursday, May 30th. Wedbush reiterated an outperform rating and issued a $51.00 target price on shares of Gaming and Leisure Properties in a research note on Friday, May 17th. StockNews.com cut Gaming and Leisure Properties from a buy rating to a hold rating in a report on Saturday, June 15th. Royal Bank of Canada lowered their price target on shares of Gaming and Leisure Properties from $49.00 to $47.00 and set an outperform rating on the stock in a report on Monday, April 29th. Finally, Stifel Nicolaus boosted their target price on Gaming and Leisure Properties from $50.75 to $51.00 and gave the stock a buy rating in a research report on Friday, May 17th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $50.33.

View Our Latest Report on Gaming and Leisure Properties

Gaming and Leisure Properties Stock Up 1.0 %

Shares of NASDAQ:GLPI opened at $44.37 on Friday. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $50.06. The company has a quick ratio of 6.47, a current ratio of 6.47 and a debt-to-equity ratio of 1.49. The business has a fifty day simple moving average of $44.03 and a 200 day simple moving average of $45.48. The firm has a market cap of $12.05 billion, a P/E ratio of 16.37, a P/E/G ratio of 5.17 and a beta of 0.96.

Gaming and Leisure Properties (NASDAQ:GLPIGet Free Report) last announced its earnings results on Friday, April 26th. The real estate investment trust reported $0.64 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.26). Gaming and Leisure Properties had a net margin of 50.05% and a return on equity of 16.79%. The firm had revenue of $376.00 million during the quarter, compared to analysts’ expectations of $368.44 million. During the same quarter in the prior year, the company earned $0.92 EPS. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. Analysts predict that Gaming and Leisure Properties will post 3.65 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, June 21st. Shareholders of record on Friday, June 7th were given a $0.76 dividend. The ex-dividend date was Friday, June 7th. This represents a $3.04 dividend on an annualized basis and a yield of 6.85%. Gaming and Leisure Properties’s payout ratio is currently 112.18%.

Institutional Investors Weigh In On Gaming and Leisure Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLPI. Vanguard Group Inc. grew its holdings in shares of Gaming and Leisure Properties by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 37,572,599 shares of the real estate investment trust’s stock valued at $1,711,432,000 after acquiring an additional 555,332 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Gaming and Leisure Properties by 40.8% in the 4th quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust’s stock valued at $627,204,000 after buying an additional 3,684,553 shares in the last quarter. Putnam Investments LLC boosted its stake in Gaming and Leisure Properties by 3.1% in the 4th quarter. Putnam Investments LLC now owns 9,511,521 shares of the real estate investment trust’s stock valued at $469,394,000 after buying an additional 282,828 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Gaming and Leisure Properties by 1.7% during the 4th quarter. Principal Financial Group Inc. now owns 8,921,163 shares of the real estate investment trust’s stock valued at $440,259,000 after purchasing an additional 150,055 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Gaming and Leisure Properties by 4.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,489,160 shares of the real estate investment trust’s stock valued at $252,886,000 after acquiring an additional 211,709 shares during the last quarter. Institutional investors own 91.14% 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.