Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) announced a dividend on Friday, December 17th, Fidelity reports. Stockholders of record on Monday, December 27th will be paid a dividend of 0.24 per share by the real estate investment trust on Friday, January 7th. The ex-dividend date is Thursday, December 23rd.
Gaming and Leisure Properties has a dividend payout ratio of 109.8% 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 $3.47 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 77.2%.
Shares of GLPI opened at $46.13 on Friday. The firm has a market cap of $11.00 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 3.77 and a beta of 1.03. The company has a debt-to-equity ratio of 2.00, a quick ratio of 4.72 and a current ratio of 4.72. Gaming and Leisure Properties has a fifty-two week low of $39.08 and a fifty-two week high of $51.46. The firm has a 50 day moving average price of $47.61 and a 200-day moving average price of $47.58.
Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Wednesday, October 27th. The real estate investment trust reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.03. Gaming and Leisure Properties had a net margin of 47.92% and a return on equity of 21.35%. The company had revenue of $298.71 million during the quarter, compared to analyst estimates of $295.47 million. During the same period in the prior year, the business posted $0.89 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. As a group, equities research analysts predict that Gaming and Leisure Properties will post 3.4 earnings per share for the current year.
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A number of equities research analysts recently commented on GLPI shares. Raymond James upped their price target on shares of Gaming and Leisure Properties from $52.00 to $54.00 and gave the company a “strong-buy” rating in a report on Wednesday, December 8th. Mizuho upped their price objective on shares of Gaming and Leisure Properties from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, November 1st. Capital One Financial began coverage on shares of Gaming and Leisure Properties in a report on Thursday, September 2nd. They issued an “overweight” rating and a $54.00 price objective for the company. Morgan Stanley upped their price objective on shares of Gaming and Leisure Properties from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Scotiabank lowered shares of Gaming and Leisure Properties from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $53.33.
In related news, Director E Scott Urdang purchased 3,000 shares of the company’s stock in a transaction dated Wednesday, December 15th. The shares were purchased at an average price of $45.71 per share, with a total value of $137,130.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.53% of the company’s stock.
About Gaming and Leisure Properties
Gaming & Leisure Properties, Inc is engaged in acquiring, financing, and owning real estate property to be leased to gaming operators in triple net lease arrangements. It operates through the GLP Capital and TRS Properties segments. The GLP Capital segment consists of the leased real property and represents the majority of business.
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