Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Position Lifted by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,080,860 shares of the real estate investment trust's stock after buying an additional 161,689 shares during the period. Geode Capital Management LLC owned 2.22% of Gaming and Leisure Properties worth $312,316,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GLPI. Segall Bryant & Hamill LLC acquired a new stake in shares of Gaming and Leisure Properties during the 3rd quarter worth about $693,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Gaming and Leisure Properties by 63.1% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 51,991 shares of the real estate investment trust's stock worth $2,351,000 after acquiring an additional 20,111 shares during the last quarter. Sei Investments Co. raised its holdings in Gaming and Leisure Properties by 11.4% in the 2nd quarter. Sei Investments Co. now owns 539,593 shares of the real estate investment trust's stock valued at $24,395,000 after acquiring an additional 55,385 shares during the last quarter. Zacks Investment Management raised its holdings in Gaming and Leisure Properties by 10.9% in the 3rd quarter. Zacks Investment Management now owns 522,197 shares of the real estate investment trust's stock valued at $26,867,000 after acquiring an additional 51,398 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Gaming and Leisure Properties by 87.5% during the 3rd quarter. Cerity Partners LLC now owns 14,410 shares of the real estate investment trust's stock worth $741,000 after purchasing an additional 6,724 shares during the period. Hedge funds and other institutional investors own 91.14% of the company's stock.

Insider Buying and Selling

In related news, Director E Scott Urdang sold 3,000 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $50.39, for a total value of $151,170.00. Following the completion of the transaction, the director now owns 146,800 shares of the company's stock, valued at approximately $7,397,252. This represents a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 4.37% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GLPI. Wells Fargo & Company reiterated an "equal weight" rating and issued a $52.00 target price (up from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Mizuho lowered their target price on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a "neutral" rating for the company in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised shares of Gaming and Leisure Properties from a "hold" rating to a "buy" rating and upped their price target for the stock from $49.00 to $54.00 in a research report on Wednesday, November 20th. JPMorgan Chase & Co. upgraded shares of Gaming and Leisure Properties from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $49.00 to $54.00 in a report on Friday. Finally, StockNews.com downgraded Gaming and Leisure Properties from a "buy" rating to a "hold" rating in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $53.96.

Gaming and Leisure Properties Stock Up 1.0 %

Shares of GLPI traded up $0.49 during midday trading on Friday, reaching $50.09. 1,173,994 shares of the company were exchanged, compared to its average volume of 1,299,698. Gaming and Leisure Properties, Inc. has a 1-year low of $41.80 and a 1-year high of $52.60. The stock has a 50-day moving average price of $50.49 and a 200-day moving average price of $49.03. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. The company has a market cap of $13.74 billion, a price-to-earnings ratio of 17.51, a P/E/G ratio of 2.10 and a beta of 0.98.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 EPS 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 period last year, the firm posted $0.92 earnings per share. The business's revenue was up 7.2% on a year-over-year basis. Research analysts expect that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 6.07%. The ex-dividend date of this dividend is Friday, December 6th. Gaming and Leisure Properties's payout ratio is 106.29%.

Gaming and Leisure Properties Profile

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.