In yesterday’s Wall Street session, Gaming and Leisure Properties Inc. (NASDAQ:GLPI) shares traded at $50.94, down -0.49% from the previous session.
GLPI stock price is now 0.08% away from the 50-day moving average and 5.64% away from the 200-day moving average. The market capitalization of the company currently stands at $13.10B.
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With the price target of $53, JMP Securities recently initiated with Mkt Outperform rating for Gaming and Leisure Properties Inc. (NASDAQ: GLPI). On September 19, 2022, RBC Capital Mkts recently initiated its ‘Outperform’ rating on the stock quoting a target price of $54, while ‘Berenberg’ rates the stock as ‘Buy’.
In other news, Moore Brandon John, COO, Gen Counsel & Sec sold 3,000 shares of the company’s stock on Nov 30. The stock was sold for $156,000 at an average price of $52.00. Upon completion of the transaction, the COO, Gen Counsel & Sec now directly owns 182,993 shares in the company, valued at $9.32 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 28, EVP, Gen Counsel & Sec Moore Brandon John sold 3,000 shares of the business’s stock. A total of $156,000 was realized by selling the stock at an average price of $52.00. This leaves the insider owning 185,993 shares of the company worth $9.47 million. Insiders disposed of 587,452 shares of company stock worth roughly $29.92 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GLPI stock. A new stake in Gaming and Leisure Properties Inc. shares was purchased by HEITMAN REAL ESTATE SECURITIES LLC during the first quarter worth $67,351,000. RANGER GLOBAL REAL ESTATE ADVISORS, LLC invested $43,759,000 in shares of GLPI during the first quarter. In the first quarter, MEAG MUNICH ERGO, KAPITALANLAGEGESELLSCHAFT MBH acquired a new stake in Gaming and Leisure Properties Inc. valued at approximately $42,575,000. ZACKS INVESTMENT MANAGEMENT acquired a new stake in GLPI for approximately $22,433,000. TWO SIGMA ADVISERS, LP purchased a new stake in GLPI valued at around $18,726,000 in the second quarter. In total, there are 623 active investors with 92.20% ownership of the company’s stock.
Wednesday morning saw Gaming and Leisure Properties Inc. (NASDAQ: GLPI) opened at $51.34. During the past 12 months, Gaming and Leisure Properties Inc. has had a low of $41.81 and a high of $53.43. The fifty day moving average price for GLPI is $50.90 and a two-hundred day moving average price translates $48.22 for the stock.
The latest earnings results from Gaming and Leisure Properties Inc. (NASDAQ: GLPI) was released for Sep, 2022. According to the REIT – Specialty Company, earnings per share came in at $0.85, beating analysts’ expectations of $0.62 by 0.23. This compares to $0.63 EPS in the same period last year. The net profit margin was 47.90% and return on equity was 18.70% for GLPI. The company reported revenue of $333.82 million for the quarter, compared to $298.71 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.75 percent. For the current quarter, analysts expect GLPI to generate $329.91M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/23/2022. Investors who held shares on 12/09/2022 were paid a $0.705 dividend. On an annualized basis, this represents a $2.82 dividend and a 5.54% percent yield. There was an ex-dividend date of 12/08/2022 for this dividend. In terms of dividend payout ratio, GLPI is presently at 116.00%.
Gaming and Leisure Properties Inc.(GLPI) 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.
