Key Points
- Insider sale: Gaming and Leisure Properties director E. Scott Urdang sold 3,000 shares on June 10 at an average price of $48.32, totaling $144,960. After the trade, he still owned 127,429 shares.
- Dividend boost: The REIT raised its quarterly dividend to $0.82 per share from $0.78, translating to an annualized dividend of $3.28 and a yield of about 6.9%.
- Business and outlook: GLPI recently beat quarterly earnings estimates with $0.82 EPS and $420 million in revenue, while analysts currently rate the stock a Moderate Buy with an average target price of $52.89.
Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Get Free Report) Director E Scott Urdang sold 3,000 shares of the company's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $48.32, for a total transaction of $144,960.00. Following the transaction, the director owned 127,429 shares in the company, valued at approximately $6,157,369.28. The trade was a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Gaming and Leisure Properties Stock Performance
Shares of GLPI stock opened at $47.87 on Friday. The firm has a 50-day moving average of $47.03 and a 200-day moving average of $46.06. The company has a market cap of $13.57 billion, a P/E ratio of 15.20, a P/E/G ratio of 2.09 and a beta of 0.66. The company has a debt-to-equity ratio of 1.62, a current ratio of 6.29 and a quick ratio of 6.29. Gaming and Leisure Properties, Inc. has a one year low of $41.17 and a one year high of $49.95.
Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its earnings results on Thursday, April 23rd. The real estate investment trust reported $0.82 EPS for the quarter, beating the consensus estimate of $0.76 by $0.06. The company had revenue of $419.99 million during the quarter, compared to the consensus estimate of $417.15 million. Gaming and Leisure Properties had a net margin of 55.56% and a return on equity of 18.06%. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 earnings per share. Gaming and Leisure Properties has set its FY 2026 guidance at 4.080-4.120 EPS. Equities research analysts forecast that Gaming and Leisure Properties, Inc. will post 4 EPS for the current fiscal year.
Gaming and Leisure Properties Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be issued a $0.82 dividend. This is an increase from Gaming and Leisure Properties's previous quarterly dividend of $0.78. This represents a $3.28 annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Friday, June 12th. Gaming and Leisure Properties's dividend payout ratio is currently 99.05%.
Institutional Trading of Gaming and Leisure Properties
Large investors have recently added to or reduced their stakes in the stock. Lighthouse Investment Partners LLC purchased a new stake in Gaming and Leisure Properties during the third quarter worth about $10,117,000. Raiffeisen Bank International AG purchased a new stake in Gaming and Leisure Properties during the third quarter worth about $703,000. LDR Capital Management LLC purchased a new stake in Gaming and Leisure Properties during the fourth quarter worth about $2,392,000. Sound Income Strategies LLC increased its holdings in Gaming and Leisure Properties by 11.7% during the fourth quarter. Sound Income Strategies LLC now owns 415,085 shares of the real estate investment trust's stock worth $19,235,000 after buying an additional 43,501 shares during the last quarter. Finally, Bayhunt Capital LLC purchased a new stake in Gaming and Leisure Properties during the fourth quarter worth about $14,811,000. Hedge funds and other institutional investors own 91.14% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on GLPI shares. Stifel Nicolaus set a $50.00 target price on shares of Gaming and Leisure Properties in a report on Friday, April 24th. Royal Bank Of Canada increased their target price on shares of Gaming and Leisure Properties from $53.00 to $54.00 and gave the company an "outperform" rating in a report on Monday, February 23rd. Weiss Ratings upgraded shares of Gaming and Leisure Properties from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, May 15th. Mizuho increased their target price on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an "outperform" rating in a report on Wednesday, March 11th. Finally, Scotiabank increased their target price on shares of Gaming and Leisure Properties from $50.00 to $52.00 and gave the company a "sector perform" rating in a report on Tuesday, May 12th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Gaming and Leisure Properties presently has a consensus rating of "Moderate Buy" and an average target price of $52.89.
Read Our Latest Analysis on Gaming and Leisure Properties
Gaming and Leisure Properties Company Profile
(
Get Free Report)
Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.
The company's core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.
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