Verition Fund Management LLC Takes Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Verition Fund Management LLC bought a new position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 13,360 shares of the real estate investment trust's stock, valued at approximately $687,000.

Several other institutional investors have also recently made changes to their positions in GLPI. Assetmark Inc. raised its position in 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 worth $29,000 after purchasing an additional 535 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Gaming and Leisure Properties during the second quarter valued at approximately $31,000. EdgeRock Capital LLC bought a new stake in shares of Gaming and Leisure Properties during the 2nd quarter worth approximately $33,000. Farther Finance Advisors LLC boosted its holdings in Gaming and Leisure Properties by 142.2% during 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 period. Finally, EverSource Wealth Advisors LLC grew its position in Gaming and Leisure Properties by 578.4% in 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 last quarter. Institutional investors own 91.14% of the company's stock.

Insider Transactions at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 6,885 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.16, for a total value of $345,351.60. Following the completion of the transaction, the director now directly owns 149,800 shares of the company's stock, valued at $7,513,968. This trade represents a 4.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.37% of the company's stock.

Gaming and Leisure Properties Stock Down 0.3 %

GLPI traded down $0.13 on Wednesday, hitting $49.61. The company had a trading volume of 1,329,806 shares, compared to its average volume of 1,302,252. The stock has a market capitalization of $13.61 billion, a price-to-earnings ratio of 17.35, a P/E/G ratio of 2.14 and a beta of 0.98. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. The stock has a fifty day moving average price of $50.54 and a 200-day moving average price of $48.96. Gaming and Leisure Properties, Inc. has a 12-month low of $41.80 and a 12-month high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $385.34 million during the quarter, compared to analysts' expectations of $385.09 million. During the same period in the previous year, the firm earned $0.92 EPS. The firm's quarterly revenue was up 7.2% on a year-over-year basis. Analysts predict that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.04 annualized dividend and a dividend yield of 6.13%. Gaming and Leisure Properties's dividend payout ratio is presently 106.29%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GLPI shares. StockNews.com cut shares of Gaming and Leisure Properties from a "buy" rating to a "hold" rating in a report on Monday, October 28th. Wolfe Research raised 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. Raymond James boosted their price target on Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an "outperform" rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft upgraded Gaming and Leisure Properties from a "hold" rating to a "buy" rating and raised their price objective for the stock from $49.00 to $54.00 in a report on Wednesday, November 20th. Finally, JMP Securities reiterated 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. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Gaming and Leisure Properties currently has a consensus rating of "Moderate Buy" and an average price target of $53.50.

Gaming and Leisure Properties Company 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.