AlphaQuest LLC Boosts Stock Position in Gaming and Leisure Properties, Inc. $GLPI

AlphaQuest LLC lifted its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 21.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,420 shares of the real estate investment trust’s stock after purchasing an additional 6,741 shares during the period. AlphaQuest LLC’s holdings in Gaming and Leisure Properties were worth $1,793,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GLPI. Alpine Bank Wealth Management purchased a new stake in shares of Gaming and Leisure Properties during the first quarter worth about $26,000. Private Trust Co. NA purchased a new stake in Gaming and Leisure Properties in the first quarter worth about $28,000. TD Private Client Wealth LLC lifted its holdings in Gaming and Leisure Properties by 64.2% in the first quarter. TD Private Client Wealth LLC now owns 545 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 213 shares during the period. V Square Quantitative Management LLC purchased a new stake in Gaming and Leisure Properties in the second quarter worth about $30,000. Finally, REAP Financial Group LLC lifted its holdings in Gaming and Leisure Properties by 66.0% in the second quarter. REAP Financial Group LLC now owns 664 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 264 shares during the period. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GLPI has been the subject of several research analyst reports. Scotiabank raised their price objective on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Thursday, August 28th. Cantor Fitzgerald initiated coverage on shares of Gaming and Leisure Properties in a report on Wednesday, October 1st. They issued a “neutral” rating and a $51.00 price objective for the company. Mizuho raised their price objective on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, September 11th. Macquarie lowered their price objective on shares of Gaming and Leisure Properties from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, July 28th. Finally, Royal Bank Of Canada lowered their target price on shares of Gaming and Leisure Properties from $54.00 to $53.00 and set an “outperform” rating for the company in a report on Monday, July 28th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $52.94.

Insider Buying and Selling at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 3,000 shares of Gaming and Leisure Properties stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $46.54, for a total transaction of $139,620.00. Following the transaction, the director owned 133,953 shares in the company, valued at approximately $6,234,172.62. The trade was a 2.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.26% of the company’s stock.

Gaming and Leisure Properties Trading Down 0.5%

Shares of Gaming and Leisure Properties stock opened at $44.81 on Friday. The company’s fifty day simple moving average is $46.67 and its 200-day simple moving average is $46.91. The stock has a market capitalization of $12.68 billion, a PE ratio of 17.37, a P/E/G ratio of 9.80 and a beta of 0.74. Gaming and Leisure Properties, Inc. has a 1-year low of $44.21 and a 1-year high of $52.27. The company has a debt-to-equity ratio of 1.41, a current ratio of 7.39 and a quick ratio of 7.39.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.01). Gaming and Leisure Properties had a return on equity of 15.43% and a net margin of 46.32%.The business had revenue of $394.90 million for the quarter, compared to analysts’ expectations of $397.27 million. During the same quarter in the prior year, the business earned $0.94 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, September 12th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 7.0%. Gaming and Leisure Properties’s payout ratio is 120.93%.

Gaming and Leisure Properties Profile

Gaming & Leisure Properties, Inc engages in the provision of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.