Gaming and Leisure Properties Inc (NASDAQ:GLPI) to Issue Dividend Increase – $0.70 Per Share

Gaming and Leisure Properties Inc (NASDAQ:GLPI) declared a quarterly dividend on Wednesday, November 27th, Zacks reports. Stockholders of record on Friday, December 13th will be given a dividend of 0.70 per share by the real estate investment trust on Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 6.60%. The ex-dividend date of this dividend is Thursday, December 12th. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.68.

NASDAQ:GLPI opened at $42.43 on Friday. The company has a market capitalization of $9.08 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 1.27 and a beta of 0.52. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 2.82. Gaming and Leisure Properties has a 52-week low of $31.19 and a 52-week high of $43.12. The stock has a fifty day simple moving average of $40.67 and a 200-day simple moving average of $39.30.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.41). The firm had revenue of $287.61 million for the quarter, compared to analyst estimates of $288.09 million. Gaming and Leisure Properties had a return on equity of 14.76% and a net margin of 27.62%. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period last year, the firm earned $0.76 EPS. As a group, equities analysts anticipate that Gaming and Leisure Properties will post 3.36 earnings per share for the current year.

In other Gaming and Leisure Properties news, SVP Matthew Demchyk purchased 2,500 shares of the stock in a transaction on Friday, November 8th. The stock was bought at an average price of $42.00 per share, for a total transaction of $105,000.00. Following the acquisition, the senior vice president now directly owns 50,000 shares of the company’s stock, valued at $2,100,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired a total of 10,000 shares of company stock valued at $418,875 in the last 90 days. 6.05% of the stock is owned by company insiders.

Several brokerages recently weighed in on GLPI. ValuEngine downgraded shares of Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Thursday, October 31st. Morgan Stanley set a $47.00 target price on shares of Gaming and Leisure Properties and gave the company a “buy” rating in a research note on Friday, August 9th. Macquarie began coverage on shares of Gaming and Leisure Properties in a research note on Thursday, October 24th. They issued an “outperform” rating and a $44.00 target price for the company. Finally, Nomura set a $42.00 target price on shares of Gaming and Leisure Properties and gave the company a “hold” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $44.00.

About Gaming and Leisure Properties

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.

See Also: Convertible Shares

Dividend History for Gaming and Leisure Properties (NASDAQ:GLPI)

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