Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Announces Quarterly Dividend of $0.78

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) announced a quarterly dividend on Thursday, February 19th. Stockholders of record on Friday, March 13th will be given a dividend of 0.78 per share by the real estate investment trust on Friday, March 27th. This represents a c) annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Friday, March 13th.

Gaming and Leisure Properties has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 2 years. Gaming and Leisure Properties has a dividend payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Gaming and Leisure Properties to earn $3.98 per share next year, which means the company should continue to be able to cover its $3.12 annual dividend with an expected future payout ratio of 78.4%.

Gaming and Leisure Properties Stock Performance

NASDAQ:GLPI traded down $0.22 during midday trading on Friday, reaching $47.13. The stock had a trading volume of 876,915 shares, compared to its average volume of 2,338,438. The company has a quick ratio of 13.23, a current ratio of 13.23 and a debt-to-equity ratio of 1.47. The stock has a market cap of $13.34 billion, a P/E ratio of 17.08, a P/E/G ratio of 2.58 and a beta of 0.67. The firm has a fifty day simple moving average of $45.25 and a two-hundred day simple moving average of $45.43. Gaming and Leisure Properties has a 12-month low of $41.17 and a 12-month high of $52.24.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GLPI shares. UBS Group reiterated a “buy” rating on shares of Gaming and Leisure Properties in a research note on Thursday, January 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Gaming and Leisure Properties in a research report on Thursday, January 22nd. Mizuho set a $50.00 price target on Gaming and Leisure Properties and gave the company an “outperform” rating in a report on Wednesday, December 17th. Stifel Nicolaus set a $48.50 price objective on Gaming and Leisure Properties in a report on Thursday, February 12th. Finally, Barclays increased their price objective on Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and a consensus target price of $51.86.

Gaming and Leisure Properties Company Profile

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.