Scotiabank Cuts Gaming and Leisure Properties (NASDAQ:GLPI) Price Target to $43.00

Gaming and Leisure Properties (NASDAQ:GLPI) had its price objective cut by Scotiabank from $49.00 to $43.00 in a research note issued to investors on Thursday, Marketbeat Ratings reports. They currently have a sector perform rating on the real estate investment trust’s stock.

GLPI has been the subject of several other research reports. Weiss Ratings lowered Gaming and Leisure Properties from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 12th. JPMorgan Chase & Co. dropped their target price on Gaming and Leisure Properties from $53.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 30th. Cantor Fitzgerald reduced their target price on Gaming and Leisure Properties from $52.00 to $48.00 and set a “neutral” rating on the stock in a research report on Monday, August 10th. Wells Fargo & Company decreased their price target on Gaming and Leisure Properties from $45.00 to $43.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 1st. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $47.00 price target on shares of Gaming and Leisure Properties in a research note on Thursday, August 13th. Five research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $47.73.

Gaming and Leisure Properties Stock Performance

GLPI stock opened at $38.79 on Thursday. Gaming and Leisure Properties has a one year low of $38.32 and a one year high of $49.95. The firm has a market cap of $11.28 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 1.62 and a beta of 0.65. The company has a debt-to-equity ratio of 1.51, a quick ratio of 4.74 and a current ratio of 4.74. The firm has a 50-day simple moving average of $42.60 and a two-hundred day simple moving average of $45.00.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Gaming and Leisure Properties had a net margin of 59.01% and a return on equity of 19.17%. The firm had revenue of $430.52 million for the quarter, compared to the consensus estimate of $428.51 million. During the same quarter in the previous year, the firm earned $0.96 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. Gaming and Leisure Properties has set its FY 2026 guidance at 4.100-4.120 EPS. On average, equities analysts forecast that Gaming and Leisure Properties will post 4.03 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were issued a $0.82 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 8.5%. Gaming and Leisure Properties’s dividend payout ratio is currently 96.19%.

Insider Activity

In other news, Director Earl C. Shanks acquired 10,000 shares of Gaming and Leisure Properties stock in a transaction dated Tuesday, August 18th. The stock was purchased at an average cost of $42.24 per share, for a total transaction of $422,400.00. Following the completion of the purchase, the director directly owned 107,259 shares in the company, valued at $4,530,620.16. This trade represents a 10.28% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Gaming and Leisure Properties

Several hedge funds and other institutional investors have recently bought and sold shares of GLPI. Lasalle Investment Management Securities LLC lifted its position in Gaming and Leisure Properties by 17.0% during the second quarter. Lasalle Investment Management Securities LLC now owns 2,309,247 shares of the real estate investment trust’s stock valued at $102,831,000 after purchasing an additional 334,933 shares during the period. Empowered Funds LLC acquired a new stake in Gaming and Leisure Properties during the 1st quarter worth about $1,219,000. Bank of America Corp DE purchased a new position in shares of Gaming and Leisure Properties during the 2nd quarter valued at about $54,270,000. Squarepoint Ops LLC acquired a new position in shares of Gaming and Leisure Properties in the 2nd quarter valued at about $5,736,000. Finally, State Street Corp lifted its holdings in shares of Gaming and Leisure Properties by 2.3% in the 2nd quarter. State Street Corp now owns 13,477,304 shares of the real estate investment trust’s stock valued at $600,144,000 after buying an additional 305,154 shares during the period. Institutional investors and hedge funds own 91.14% of the company’s stock.

About Gaming and Leisure Properties

Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust that owns, acquires and leases gaming-related properties. Its portfolio primarily consists of casinos and other properties used for gaming, entertainment and hospitality activities.

GLPI generally leases its properties to gaming operators under long-term, triple-net lease agreements. Under these arrangements, tenants typically operate the properties and are responsible for expenses such as maintenance, insurance and property taxes, while GLPI focuses on owning and managing the underlying real estate.

The company was established in 2013 through the spin-off of gaming properties from Penn National Gaming, now known as PENN Entertainment.