OVERSEA CHINESE BANKING Corp Ltd Takes Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 64,541 shares of the real estate investment trust's stock, valued at approximately $3,321,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Assetmark Inc. raised its holdings 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 in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Gaming and Leisure Properties in the second quarter valued at $31,000. EdgeRock Capital LLC purchased a new stake in Gaming and Leisure Properties during the 2nd quarter worth about $33,000. Versant Capital Management Inc boosted its position in shares of Gaming and Leisure Properties by 18,500.0% during the 2nd 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 in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of 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 acquiring an additional 384 shares during the last quarter. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GLPI has been the topic of several research reports. Scotiabank raised their price objective on Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 16th. JMP Securities restated a "market outperform" rating and set a $55.00 price target on shares of Gaming and Leisure Properties in a research note on Tuesday, October 29th. Raymond James boosted their price objective on Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an "outperform" rating in a research note on Wednesday, August 21st. Wolfe Research upgraded shares of 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 research report on Friday, August 23rd. Finally, Stifel Nicolaus lifted their target price on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a "buy" rating in a report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $52.18.

Gaming and Leisure Properties Trading Down 0.1 %

Shares of NASDAQ:GLPI traded down $0.07 during midday trading on Wednesday, reaching $49.09. The company's stock had a trading volume of 1,358,582 shares, compared to its average volume of 1,318,074. The firm has a market cap of $13.47 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 2.12 and a beta of 0.99. The business has a 50 day moving average price of $50.89 and a 200 day moving average price of $48.10. Gaming and Leisure Properties, Inc. has a 1 year low of $41.80 and a 1 year 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.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last issued 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). The company had revenue of $385.34 million for 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 for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company posted $0.92 EPS. Research analysts forecast that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 6.19%. The ex-dividend date of this dividend was Friday, September 13th. Gaming and Leisure Properties's payout ratio is currently 106.29%.

Insider Activity at Gaming and Leisure Properties

In other news, CFO Desiree A. Burke sold 12,973 shares of the company's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $52.02, for a total value of $674,855.46. Following the completion of the sale, the chief financial officer now owns 108,073 shares of the company's stock, valued at $5,621,957.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Desiree A. Burke sold 12,973 shares of the company's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $52.02, for a total value of $674,855.46. Following the completion of the transaction, the chief financial officer now directly owns 108,073 shares in the company, valued at approximately $5,621,957.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director E Scott Urdang sold 3,000 shares of the business's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $50.39, for a total transaction of $151,170.00. Following the completion of the transaction, the director now owns 146,800 shares in the company, valued at $7,397,252. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,758 shares of company stock worth $2,717,922. 4.37% of the stock is currently owned by corporate insiders.

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.