Barr E S & Co. grew its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Free Report) by 9.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 202,339 shares of the real estate investment trust’s stock after buying an additional 17,997 shares during the quarter. Barr E S & Co.’s holdings in Gaming and Leisure Properties were worth $9,043,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the business. DNB Asset Management AS grew its stake in shares of Gaming and Leisure Properties by 4.9% during the fourth quarter. DNB Asset Management AS now owns 52,493 shares of the real estate investment trust’s stock worth $2,346,000 after purchasing an additional 2,445 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in shares of Gaming and Leisure Properties by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 63,319 shares of the real estate investment trust’s stock worth $2,830,000 after purchasing an additional 237 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Gaming and Leisure Properties by 10.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 109,187 shares of the real estate investment trust’s stock worth $4,880,000 after purchasing an additional 10,023 shares in the last quarter. Arbejdsmarkedets Tillaegspension acquired a new position in shares of Gaming and Leisure Properties during the fourth quarter worth $25,150,000. Finally, Pinnacle Associates Ltd. grew its stake in shares of Gaming and Leisure Properties by 5.4% during the fourth quarter. Pinnacle Associates Ltd. now owns 5,251 shares of the real estate investment trust’s stock worth $235,000 after purchasing an additional 270 shares in the last quarter. Institutional investors and hedge funds own 91.14% of the company’s stock.
Gaming and Leisure Properties Stock Performance
NASDAQ GLPI opened at $46.38 on Friday. The company has a debt-to-equity ratio of 1.62, a current ratio of 6.29 and a quick ratio of 6.29. Gaming and Leisure Properties, Inc. has a 1 year low of $41.17 and a 1 year high of $49.95. The company has a market capitalization of $13.15 billion, a PE ratio of 14.72, a P/E/G ratio of 2.00 and a beta of 0.68. The company has a fifty day moving average of $46.85 and a two-hundred day moving average of $45.65.
Gaming and Leisure Properties Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 6.7%. The ex-dividend date was Friday, March 13th. Gaming and Leisure Properties’s dividend payout ratio is currently 99.05%.
Insider Buying and Selling at Gaming and Leisure Properties
In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 9,804 shares of the company’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $49.02, for a total value of $480,592.08. Following the completion of the transaction, the chief financial officer owned 128,352 shares in the company, valued at $6,291,815.04. This represents a 7.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Brandon John Moore sold 16,884 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $48.05, for a total transaction of $811,276.20. Following the completion of the transaction, the chief operating officer owned 257,874 shares of the company’s stock, valued at $12,390,845.70. This represents a 6.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 32,178 shares of company stock worth $1,552,938 over the last 90 days. Corporate insiders own 4.11% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently commented on GLPI. Barclays boosted their target price on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. Weiss Ratings downgraded shares of Gaming and Leisure Properties from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Royal Bank Of Canada boosted their target price on shares of Gaming and Leisure Properties from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Monday, February 23rd. Scotiabank boosted their target price on shares of Gaming and Leisure Properties from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Finally, Mizuho boosted their target price on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 11th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $52.50.
Check Out Our Latest Analysis on Gaming and Leisure Properties
About Gaming and Leisure Properties
Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.
The company’s core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.
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