Sei Investments Co. raised its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Free Report) by 36.3% during the first quarter, Holdings Channel reports. The institutional investor owned 959,895 shares of the real estate investment trust’s stock after buying an additional 255,486 shares during the period. Sei Investments Co.’s holdings in Gaming and Leisure Properties were worth $42,591,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Trust Advisors LP increased its stake in Gaming and Leisure Properties by 78.7% in the second quarter. First Trust Advisors LP now owns 283,963 shares of the real estate investment trust’s stock valued at $13,255,000 after purchasing an additional 125,098 shares during the last quarter. Cerity Partners LLC lifted its position in shares of Gaming and Leisure Properties by 18.6% during the 2nd quarter. Cerity Partners LLC now owns 10,233 shares of the real estate investment trust’s stock worth $478,000 after buying an additional 1,608 shares during the last quarter. Bank of Nova Scotia lifted its position in shares of Gaming and Leisure Properties by 16.6% during the 2nd quarter. Bank of Nova Scotia now owns 18,603 shares of the real estate investment trust’s stock worth $868,000 after buying an additional 2,646 shares during the last quarter. AXA S.A. boosted its holdings in shares of Gaming and Leisure Properties by 478.5% in the 2nd quarter. AXA S.A. now owns 39,543 shares of the real estate investment trust’s stock valued at $1,846,000 after buying an additional 32,708 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in shares of Gaming and Leisure Properties by 276.2% in the 2nd quarter. Squarepoint Ops LLC now owns 70,459 shares of the real estate investment trust’s stock valued at $3,289,000 after buying an additional 51,731 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts recently commented on GLPI shares. JPMorgan Chase & Co. dropped their target price on shares of Gaming and Leisure Properties from $53.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 30th. Morgan Stanley upped their price objective on shares of Gaming and Leisure Properties from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Wells Fargo & Company dropped their price objective on Gaming and Leisure Properties from $48.00 to $45.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 15th. Stifel Nicolaus set a $50.00 target price on Gaming and Leisure Properties in a research report on Friday, April 24th. Finally, Weiss Ratings downgraded Gaming and Leisure Properties from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and an average price target of $51.27.
Insider Transactions at Gaming and Leisure Properties
In related news, Director E Scott Urdang sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $48.32, for a total value of $144,960.00. Following the completion of the sale, the director owned 127,429 shares in the company, valued at $6,157,369.28. This trade represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.11% of the stock is owned by corporate insiders.
Gaming and Leisure Properties Stock Performance
NASDAQ:GLPI opened at $45.17 on Monday. The company has a debt-to-equity ratio of 1.62, a current ratio of 6.29 and a quick ratio of 6.29. The firm has a market cap of $12.80 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 2.00 and a beta of 0.66. The firm’s fifty day moving average price is $45.67 and its 200 day moving average price is $46.25. Gaming and Leisure Properties, Inc. has a 1-year low of $41.17 and a 1-year high of $49.95.
Gaming and Leisure Properties (NASDAQ:GLPI – Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The real estate investment trust reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. Gaming and Leisure Properties had a net margin of 55.56% and a return on equity of 18.06%. The company had revenue of $419.99 million during the quarter, compared to the consensus estimate of $417.15 million. During the same quarter in the prior year, the firm earned $0.96 EPS. Gaming and Leisure Properties’s quarterly revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts expect that Gaming and Leisure Properties, Inc. will post 4.01 EPS for the current year.
Gaming and Leisure Properties Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 7.3%. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.78. The ex-dividend date was Friday, June 12th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 104.13%.
Gaming and Leisure Properties Company Profile
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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