OFI Invest Asset Management Purchases Shares of 18,954 Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

OFI Invest Asset Management bought a new stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 18,954 shares of the real estate investment trust's stock, valued at approximately $800,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Foundations Investment Advisors LLC lifted its position in Gaming and Leisure Properties by 4.9% during the fourth quarter. Foundations Investment Advisors LLC now owns 7,583 shares of the real estate investment trust's stock valued at $352,000 after purchasing an additional 354 shares during the last quarter. Russell Investments Group Ltd. grew its position in Gaming and Leisure Properties by 27.4% in the first quarter. Russell Investments Group Ltd. now owns 309,882 shares of the real estate investment trust's stock worth $14,276,000 after acquiring an additional 66,601 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Gaming and Leisure Properties during the fourth quarter worth approximately $2,501,000. Treasurer of the State of North Carolina lifted its stake in shares of Gaming and Leisure Properties by 19.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 153,195 shares of the real estate investment trust's stock worth $7,560,000 after acquiring an additional 24,489 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Gaming and Leisure Properties during the 1st quarter valued at $2,396,000. 91.14% of the stock is owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Stock Down 0.2 %

Shares of NASDAQ:GLPI traded down $0.12 on Friday, reaching $49.14. The company had a trading volume of 1,083,467 shares, compared to its average volume of 1,351,815. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $13.34 billion, a PE ratio of 18.13, a PEG ratio of 5.14 and a beta of 0.98. Gaming and Leisure Properties, Inc. has a 52-week low of $41.80 and a 52-week high of $50.74. The firm's 50 day simple moving average is $46.79 and its 200-day simple moving average is $45.50.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The firm had revenue of $380.60 million during the quarter, compared to the consensus estimate of $377.95 million. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The business's revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, 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 firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 6.19%. The ex-dividend date was Friday, June 7th. Gaming and Leisure Properties's dividend payout ratio is currently 112.18%.

Insider Buying and Selling at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 5,605 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $48.89, for a total value of $274,028.45. Following the completion of the transaction, the director now directly owns 156,685 shares of the company's stock, valued at approximately $7,660,329.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GLPI has been the subject of several research analyst reports. Scotiabank lifted their target price on Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 16th. JMP Securities lifted their price objective on shares of Gaming and Leisure Properties from $53.00 to $55.00 and gave the company a "market outperform" rating in a report on Monday, August 12th. Royal Bank of Canada upped their target price on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an "outperform" rating in a research note on Monday, July 29th. Morgan Stanley reaffirmed an "overweight" rating and set a $53.00 target price on shares of Gaming and Leisure Properties in a research report on Friday, June 21st. Finally, StockNews.com upgraded Gaming and Leisure Properties from a "hold" rating to a "buy" rating in a report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $51.38.

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.