JPMorgan Chase & Co. boosted its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 13.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,503,392 shares of the real estate investment trust's stock after purchasing an additional 173,810 shares during the quarter. JPMorgan Chase & Co. owned about 0.55% of Gaming and Leisure Properties worth $77,350,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of GLPI. Assetmark Inc. grew its stake in shares of Gaming and Leisure Properties by 2,547.6% in the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 535 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Gaming and Leisure Properties in the 2nd quarter valued at $31,000. Farther Finance Advisors LLC increased its stake in Gaming and Leisure Properties by 142.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 384 shares during the period. EverSource Wealth Advisors LLC raised its position in Gaming and Leisure Properties by 578.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust's stock worth $35,000 after buying an additional 590 shares during the last quarter. Finally, Abich Financial Wealth Management LLC lifted its stake in shares of Gaming and Leisure Properties by 3,191.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 757 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 734 shares during the period. Institutional investors and hedge funds own 91.14% of the company's stock.
Gaming and Leisure Properties Price Performance
Shares of Gaming and Leisure Properties stock traded up $0.09 during trading on Friday, hitting $47.86. 1,294,701 shares of the company were exchanged, compared to its average volume of 1,054,497. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.80 and a fifty-two week high of $52.60. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. The firm has a 50 day moving average price of $49.60 and a 200 day moving average price of $49.43. The stock has a market capitalization of $13.13 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 2.13 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 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.25). The company had revenue of $385.34 million during the quarter, compared to analyst estimates of $385.09 million. Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The business's revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $0.92 earnings per share. On average, equities analysts expect that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current fiscal year.
Gaming and Leisure Properties Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.35%. The ex-dividend date of this dividend was Friday, December 6th. Gaming and Leisure Properties's dividend payout ratio is presently 106.29%.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Gaming and Leisure Properties from a "hold" rating to a "buy" rating and boosted their price target for the stock from $49.00 to $54.00 in a research note on Wednesday, November 20th. JMP Securities reiterated a "market outperform" rating and set a $55.00 target price on shares of Gaming and Leisure Properties in a research report on Wednesday, December 18th. JPMorgan Chase & Co. raised Gaming and Leisure Properties from a "neutral" rating to an "overweight" rating and raised their price target for the company from $49.00 to $54.00 in a report on Friday, December 13th. Mizuho dropped their price objective on Gaming and Leisure Properties from $52.00 to $51.00 and set a "neutral" rating on the stock in a report on Thursday, November 14th. Finally, StockNews.com cut Gaming and Leisure Properties from a "buy" rating to a "hold" rating in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, Gaming and Leisure Properties presently has an average rating of "Moderate Buy" and a consensus price target of $54.00.
Get Our Latest Stock Report on GLPI
Insider Activity
In related news, Director E Scott Urdang sold 3,000 shares of the company's stock in a transaction on 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 directly owns 146,800 shares in the company, valued at approximately $7,397,252. This represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.37% of the company's stock.
About Gaming and Leisure Properties
(
Free Report)
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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