An issue of Gaming and Leisure Properties Inc (NASDAQ:GLPI) debt rose 1.6% against its face value during trading on Wednesday. The high-yield issue of debt has a 5.375% coupon and is set to mature on April 15, 2026. The bonds in the issue are now trading at $103.63. Price moves in a company’s debt in credit markets often predict parallel moves in its share price.

A number of analysts recently issued reports on the company. Oppenheimer began coverage on Gaming and Leisure Properties in a research report on Tuesday. They issued an “outperform” rating and a $41.00 target price for the company. Credit Suisse Group began coverage on Gaming and Leisure Properties in a research note on Tuesday. They set an “outperform” rating and a $41.00 price objective for the company. BidaskClub downgraded Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. ValuEngine downgraded Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. Finally, Morgan Stanley raised Gaming and Leisure Properties from an “equal” rating to a “weight” rating and set a $37.00 price objective for the company in a research note on Tuesday, July 24th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $39.00.

GLPI traded up $0.39 on Friday, hitting $35.44. 42,375 shares of the company traded hands, compared to its average volume of 1,284,238. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.89. The company has a market cap of $7.40 billion, a PE ratio of 11.13, a P/E/G ratio of 1.06 and a beta of 0.79. Gaming and Leisure Properties Inc has a 12-month low of $32.51 and a 12-month high of $39.32.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.34). The company had revenue of $254.22 million for the quarter, compared to analysts’ expectations of $254.40 million. Gaming and Leisure Properties had a net margin of 38.54% and a return on equity of 15.56%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 earnings per share. sell-side analysts expect that Gaming and Leisure Properties Inc will post 3.05 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Friday, September 7th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 7.11%. The ex-dividend date of this dividend is Thursday, September 6th. Gaming and Leisure Properties’s dividend payout ratio is presently 80.00%.

In other Gaming and Leisure Properties news, Director E Scott Urdang bought 3,000 shares of the business’s stock in a transaction dated Friday, June 8th. The stock was acquired at an average cost of $35.32 per share, with a total value of $105,960.00. Following the purchase, the director now owns 62,971 shares in the company, valued at approximately $2,224,135.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.88% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in Gaming and Leisure Properties by 2.7% in the 2nd quarter. BlackRock Inc. now owns 14,682,501 shares of the real estate investment trust’s stock valued at $525,634,000 after purchasing an additional 388,519 shares in the last quarter. Renaissance Technologies LLC increased its stake in Gaming and Leisure Properties by 14.9% in the 2nd quarter. Renaissance Technologies LLC now owns 9,056,089 shares of the real estate investment trust’s stock valued at $324,208,000 after purchasing an additional 1,174,600 shares in the last quarter. FMR LLC increased its stake in Gaming and Leisure Properties by 20.3% in the 2nd quarter. FMR LLC now owns 5,365,666 shares of the real estate investment trust’s stock valued at $192,091,000 after purchasing an additional 905,752 shares in the last quarter. Millennium Management LLC increased its stake in Gaming and Leisure Properties by 23.3% in the 2nd quarter. Millennium Management LLC now owns 3,084,735 shares of the real estate investment trust’s stock valued at $110,434,000 after purchasing an additional 582,081 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Gaming and Leisure Properties by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,996,233 shares of the real estate investment trust’s stock valued at $107,266,000 after purchasing an additional 47,572 shares in the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

About Gaming and Leisure Properties (NASDAQ:GLPI)

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.

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