Gaming and Leisure Properties Inc (NASDAQ:GLPI) saw a large increase in short interest in May. As of May 29th, there was short interest totalling 4,650,000 shares, an increase of 73.5% from the May 14th total of 2,680,000 shares. Based on an average trading volume of 3,000,000 shares, the days-to-cover ratio is presently 1.6 days. Approximately 2.3% of the shares of the stock are short sold.
A number of equities research analysts have recently issued reports on the stock. Deutsche Bank dropped their target price on shares of Gaming and Leisure Properties from $46.00 to $38.00 and set a “buy” rating for the company in a report on Friday, May 1st. Zacks Investment Research lowered shares of Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a report on Tuesday. Nomura Securities raised shares of Gaming and Leisure Properties from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $45.00 to $29.00 in a report on Wednesday, March 25th. BidaskClub raised shares of Gaming and Leisure Properties from a “buy” rating to a “strong-buy” rating in a report on Friday, May 22nd. Finally, ValuEngine lowered shares of Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $36.43.
Shares of GLPI stock traded down $1.29 on Thursday, hitting $35.95. 1,178,290 shares of the stock traded hands, compared to its average volume of 2,270,431. The firm’s 50-day moving average price is $30.76 and its two-hundred day moving average price is $37.52. The company has a debt-to-equity ratio of 3.20, a quick ratio of 9.92 and a current ratio of 9.92. The stock has a market capitalization of $8.04 billion, a PE ratio of 19.68, a PEG ratio of 2.06 and a beta of 0.97. Gaming and Leisure Properties has a twelve month low of $12.78 and a twelve month high of $49.99.
Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.40). The firm had revenue of $283.50 million for the quarter, compared to analyst estimates of $283.61 million. Gaming and Leisure Properties had a net margin of 34.35% and a return on equity of 18.91%. The company’s revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 EPS. On average, equities research analysts anticipate that Gaming and Leisure Properties will post 3.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Wednesday, May 13th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $2.40 annualized dividend and a dividend yield of 6.68%. Gaming and Leisure Properties’s payout ratio is 13.95%.
In related news, Director E Scott Urdang purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average price of $30.71 per share, with a total value of $307,100.00. Following the acquisition, the director now owns 111,299 shares in the company, valued at $3,417,992.29. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.83% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of GLPI. Capital International Investors acquired a new position in Gaming and Leisure Properties in the first quarter valued at about $125,199,000. Morgan Stanley lifted its position in Gaming and Leisure Properties by 65.1% in the first quarter. Morgan Stanley now owns 5,691,449 shares of the real estate investment trust’s stock valued at $157,711,000 after buying an additional 2,244,222 shares during the last quarter. Norges Bank acquired a new position in Gaming and Leisure Properties in the fourth quarter valued at about $91,241,000. Deutsche Bank AG lifted its position in Gaming and Leisure Properties by 1,076.1% in the first quarter. Deutsche Bank AG now owns 1,907,361 shares of the real estate investment trust’s stock valued at $52,853,000 after buying an additional 1,745,188 shares during the last quarter. Finally, Prudential Financial Inc. lifted its position in Gaming and Leisure Properties by 3,252.6% in the fourth quarter. Prudential Financial Inc. now owns 1,160,027 shares of the real estate investment trust’s stock valued at $49,939,000 after buying an additional 1,125,426 shares during the last quarter. 86.95% 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.
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