Short Interest in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Declines By 5.3%

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) was the recipient of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 4,800,000 shares, a decrease of 5.3% from the March 31st total of 5,070,000 shares. Based on an average daily volume of 1,420,000 shares, the days-to-cover ratio is presently 3.4 days.

Analysts Set New Price Targets

GLPI has been the topic of a number of research analyst reports. Morgan Stanley decreased their price target on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. JMP Securities restated a “market outperform” rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Mizuho decreased their price target on Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Finally, Royal Bank of Canada decreased their price target on Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.91.

Insider Activity at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average price of $45.00 per share, for a total transaction of $112,500.00. Following the purchase, the director now directly owns 156,685 shares in the company, valued at $7,050,825. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is owned by corporate insiders.

Institutional Trading of Gaming and Leisure Properties

Several hedge funds have recently added to or reduced their stakes in GLPI. Headlands Technologies LLC acquired a new stake in Gaming and Leisure Properties during the 4th quarter worth $30,000. Operose Advisors LLC acquired a new stake in Gaming and Leisure Properties during the 3rd quarter worth $32,000. EdgeRock Capital LLC acquired a new stake in shares of Gaming and Leisure Properties in the 4th quarter valued at about $33,000. MCF Advisors LLC raised its stake in shares of Gaming and Leisure Properties by 416.7% in the 1st quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 600 shares during the period. Finally, Mather Group LLC. acquired a new stake in shares of Gaming and Leisure Properties in the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 91.14% of the company’s stock.

Gaming and Leisure Properties Trading Up 1.5 %

Shares of NASDAQ:GLPI traded up $0.63 during midday trading on Wednesday, hitting $43.36. The company had a trading volume of 392,602 shares, compared to its average volume of 1,397,295. Gaming and Leisure Properties has a 12 month low of $41.80 and a 12 month high of $51.91. The company has a current ratio of 6.47, a quick ratio of 6.47 and a debt-to-equity ratio of 1.49. The stock has a market cap of $11.77 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 5.40 and a beta of 0.94. The firm has a fifty day simple moving average of $44.73 and a 200 day simple moving average of $45.82.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.26). The company had revenue of $376.00 million during the quarter, compared to the consensus estimate of $368.44 million. Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. On average, analysts predict that Gaming and Leisure Properties will post 3.66 EPS for the current year.

Gaming and Leisure Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 7.01%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 112.18%.

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.