Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can raised its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 205.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 461,086 shares of the real estate investment trust's stock after acquiring an additional 310,212 shares during the period. Bank of Montreal Can owned approximately 0.17% of Gaming and Leisure Properties worth $23,400,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Jennison Associates LLC lifted its position in Gaming and Leisure Properties by 25.3% during the third quarter. Jennison Associates LLC now owns 4,075,461 shares of the real estate investment trust's stock valued at $209,682,000 after purchasing an additional 821,634 shares during the period. DigitalBridge Group Inc. purchased a new position in shares of Gaming and Leisure Properties during the 2nd quarter valued at about $16,936,000. Dimensional Fund Advisors LP lifted its holdings in shares of Gaming and Leisure Properties by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,104,552 shares of the real estate investment trust's stock valued at $185,564,000 after buying an additional 350,250 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Gaming and Leisure Properties by 6.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,534,033 shares of the real estate investment trust's stock worth $284,726,000 after buying an additional 341,492 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in Gaming and Leisure Properties by 46.9% during the third quarter. Raymond James & Associates now owns 580,315 shares of the real estate investment trust's stock worth $29,857,000 after acquiring an additional 185,348 shares during the period. 91.14% of the stock is owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Price Performance

GLPI traded down $0.05 on Friday, reaching $51.61. 843,655 shares of the company's stock were exchanged, compared to its average volume of 1,309,637. The stock has a market cap of $14.16 billion, a PE ratio of 18.05, a P/E/G ratio of 2.19 and a beta of 0.99. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35. Gaming and Leisure Properties, Inc. has a twelve month low of $41.80 and a twelve month high of $52.60. The stock's fifty day moving average price is $50.59 and its 200-day moving average price is $48.65.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last issued its earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.25). Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The company had revenue of $385.34 million for the quarter, compared to analyst estimates of $385.09 million. During the same quarter in the prior year, the firm earned $0.92 earnings per share. The company's revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts expect that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.04 annualized dividend and a dividend yield of 5.89%. Gaming and Leisure Properties's dividend payout ratio is presently 106.29%.

Wall Street Analyst Weigh In

GLPI has been the subject of a number of analyst reports. Wells Fargo & Company reissued an "equal weight" rating and issued a $52.00 price target (up from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Stifel Nicolaus boosted their price objective on Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a "buy" rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised Gaming and Leisure Properties from a "hold" rating to a "buy" rating and upped their target price for the stock from $49.00 to $54.00 in a research note on Wednesday, November 20th. JMP Securities reissued a "market outperform" rating and issued a $55.00 price target on shares of Gaming and Leisure Properties in a research note on Tuesday, October 29th. Finally, StockNews.com cut shares of Gaming and Leisure Properties from a "buy" rating to a "hold" rating in a research report on Monday, October 28th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $53.32.

Insider Transactions at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $50.39, for a total transaction of $151,170.00. Following the completion of the sale, the director now owns 146,800 shares in the company, valued at $7,397,252. This trade represents a 2.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.37% of the company's stock.

About Gaming and Leisure Properties

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.