Zacks Investment Management Raises Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Zacks Investment Management grew its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 10.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 522,197 shares of the real estate investment trust's stock after purchasing an additional 51,398 shares during the quarter. Zacks Investment Management owned approximately 0.19% of Gaming and Leisure Properties worth $26,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of GLPI. Assetmark Inc. boosted its position 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 period. Farther Finance Advisors LLC lifted its stake in Gaming and Leisure Properties by 142.2% in the third 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 last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Gaming and Leisure Properties in the second quarter valued at approximately $31,000. EverSource Wealth Advisors LLC grew its position in shares of Gaming and Leisure Properties by 578.4% during the second quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 590 shares during the last quarter. Finally, EdgeRock Capital LLC acquired a new position in shares of Gaming and Leisure Properties in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 91.14% of the company's stock.

Gaming and Leisure Properties Price Performance

Shares of GLPI traded down $0.33 during trading hours on Friday, reaching $50.43. The company had a trading volume of 1,474,199 shares, compared to its average volume of 1,079,242. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. Gaming and Leisure Properties, Inc. has a 12-month low of $41.80 and a 12-month high of $52.60. The firm has a 50 day simple moving average of $50.62 and a 200-day simple moving average of $48.85. The company has a market capitalization of $13.84 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 2.18 and a beta of 0.98.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 net margin of 51.93% and a return on equity of 17.31%. Gaming and Leisure Properties's revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 earnings per share. Research analysts expect that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 6.03%. The ex-dividend date is Friday, December 6th. Gaming and Leisure Properties's dividend payout ratio (DPR) is 106.29%.

Insider Activity

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GLPI shares. Wolfe Research upgraded shares of Gaming and Leisure Properties from a "peer perform" rating to an "outperform" rating and set a $57.00 price target for the company in a research note on Friday, August 23rd. Wells Fargo & Company restated an "equal weight" rating and issued a $52.00 price target (up previously from $51.00) on shares of Gaming and Leisure Properties in a research report on Tuesday, October 1st. StockNews.com cut Gaming and Leisure Properties from a "buy" rating to a "hold" rating in a research report on Monday, October 28th. Mizuho dropped their target price 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, Raymond James increased their price target on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an "outperform" rating in a report on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $53.32.

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.