International Assets Investment Management LLC raised its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 5,015.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,511 shares of the real estate investment trust's stock after purchasing an additional 52,465 shares during the quarter. International Assets Investment Management LLC's holdings in Gaming and Leisure Properties were worth $2,753,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new position in shares of Gaming and Leisure Properties during the second quarter valued at $31,000. EverSource Wealth Advisors LLC lifted its stake 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 valued at $35,000 after acquiring an additional 590 shares during the period. EdgeRock Capital LLC purchased a new stake in shares of Gaming and Leisure Properties during the 2nd quarter valued at about $33,000. Versant Capital Management Inc grew its stake in shares of Gaming and Leisure Properties by 18,500.0% in the second quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 740 shares during the period. Finally, UMB Bank n.a. raised its holdings in shares of Gaming and Leisure Properties by 388.2% during the third quarter. UMB Bank n.a. now owns 869 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 691 shares during the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on GLPI. JMP Securities restated a "market outperform" rating and issued a $55.00 target price on shares of Gaming and Leisure Properties in a report on Tuesday, October 29th. Stifel Nicolaus lifted their price objective on Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a "buy" rating in a report on Friday, July 26th. Wolfe Research raised Gaming and Leisure Properties from a "peer perform" rating to an "outperform" rating and set a $57.00 target price on the stock in a report on Friday, August 23rd. Royal Bank of Canada boosted their price target on Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an "outperform" rating in a research note on Monday, July 29th. Finally, StockNews.com cut shares of Gaming and Leisure Properties from a "buy" rating to a "hold" rating in a research note on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Gaming and Leisure Properties has a consensus rating of "Moderate Buy" and a consensus target price of $52.18.
Read Our Latest Report on GLPI
Insider Buying and Selling
In other news, Director E Scott Urdang sold 5,605 shares of the firm's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $48.89, for a total transaction of $274,028.45. Following the completion of the transaction, the director now owns 156,685 shares in the company, valued at $7,660,329.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director E Scott Urdang sold 5,605 shares of the firm's stock in a transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Brandon John Moore sold 30,900 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the sale, the chief operating officer now directly owns 208,977 shares in the company, valued at approximately $10,459,298.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,363 shares of company stock worth $2,840,781. 4.37% of the stock is owned by insiders.
Gaming and Leisure Properties Price Performance
Shares of GLPI stock traded down $0.37 on Friday, hitting $49.82. 1,296,635 shares of the stock traded hands, compared to its average volume of 1,216,529. 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 52 week low of $41.80 and a 52 week high of $52.60. The firm has a 50 day simple moving average of $51.14 and a two-hundred day simple moving average of $47.73. The firm has a market cap of $13.67 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 2.16 and a beta of 0.99.
Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.25). The business had revenue of $385.34 million for the quarter, compared to the consensus estimate of $385.09 million. Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. Gaming and Leisure Properties's revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 earnings per share. As a group, equities research analysts predict 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 business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 6.10%. The ex-dividend date was Friday, September 13th. Gaming and Leisure Properties's dividend payout ratio (DPR) is presently 106.29%.
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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