Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Get Rating) declared a quarterly dividend on Wednesday, November 23rd, Zacks reports. Stockholders of record on Friday, December 9th will be paid a dividend of 0.705 per share by the real estate investment trust on Friday, December 23rd. This represents a $2.82 annualized dividend and a dividend yield of 5.51%. The ex-dividend date is Thursday, December 8th.
Gaming and Leisure Properties has increased its dividend by an average of 4.1% annually over the last three years and has raised its dividend every year for the last 2 years. Gaming and Leisure Properties has a payout ratio of 105.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Gaming and Leisure Properties to earn $3.65 per share next year, which means the company should continue to be able to cover its $2.82 annual dividend with an expected future payout ratio of 77.3%.
Gaming and Leisure Properties Trading Up 0.1 %
Gaming and Leisure Properties stock traded up $0.04 during midday trading on Thursday, reaching $51.20. The stock had a trading volume of 628,981 shares, compared to its average volume of 1,499,031. The stock has a market capitalization of $13.08 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 10.40 and a beta of 1.02. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.60 and a current ratio of 0.60. The stock’s 50-day simple moving average is $47.92 and its 200 day simple moving average is $48.04. Gaming and Leisure Properties has a twelve month low of $41.81 and a twelve month high of $52.87.
Institutional Investors Weigh In On Gaming and Leisure Properties
Wall Street Analysts Forecast Growth
A number of brokerages have commented on GLPI. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Gaming and Leisure Properties from $57.00 to $62.00 in a report on Monday, August 1st. Royal Bank of Canada began coverage on Gaming and Leisure Properties in a research note on Monday, September 19th. They set an “outperform” rating and a $54.00 price target on the stock. StockNews.com downgraded shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, November 8th. Raymond James dropped their price target on shares of Gaming and Leisure Properties from $56.00 to $53.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, October 4th. Finally, JMP Securities started coverage on shares of Gaming and Leisure Properties in a research note on Friday, September 23rd. They set an “outperform” rating and a $53.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.80.
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.
- Get a free copy of the StockNews.com research report on Gaming and Leisure Properties (GLPI)
- Institutional Support for Analog Devices Remains High
- Microsoft Shares: Is it Time to Back Up the Truck?
- Is the 60/40 Portfolio Mix Still in Vogue?
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
- Three CBD Stocks to Dominate a Budding Industry
Receive News & Ratings for Gaming and Leisure Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gaming and Leisure Properties and related companies with MarketBeat.com's FREE daily email newsletter.