Home Hedge Funds Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Bought by National Asset Management...

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Bought by National Asset Management Inc.

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National Asset Management Inc. raised its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPIGet Rating) by 16.8% in the first quarter, Holdings Channel.com reports. The fund owned 7,520 shares of the real estate investment trust’s stock after acquiring an additional 1,081 shares during the period. National Asset Management Inc.’s holdings in Gaming and Leisure Properties were worth $354,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. National Bank of Canada FI acquired a new stake in Gaming and Leisure Properties during the 4th quarter worth about $34,000. New York State Teachers Retirement System raised its holdings in Gaming and Leisure Properties by 2.1% during the 4th quarter. New York State Teachers Retirement System now owns 19,100 shares of the real estate investment trust’s stock worth $929,000 after buying an additional 400 shares during the period. Janney Montgomery Scott LLC raised its holdings in Gaming and Leisure Properties by 6.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 31,933 shares of the real estate investment trust’s stock worth $1,554,000 after buying an additional 1,997 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Gaming and Leisure Properties during the 4th quarter worth about $10,208,000. Finally, State of New Jersey Common Pension Fund D raised its holdings in Gaming and Leisure Properties by 10.6% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 422,196 shares of the real estate investment trust’s stock worth $20,545,000 after buying an additional 40,408 shares during the period. 91.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GLPI. UBS Group dropped their target price on Gaming and Leisure Properties to $55.00 in a report on Thursday, June 9th. Truist Financial increased their price objective on Gaming and Leisure Properties from $51.00 to $54.00 and gave the stock a “hold” rating in a report on Wednesday, July 20th. Raymond James upped their target price on Gaming and Leisure Properties from $54.00 to $56.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 8th. StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Wednesday, May 11th. Finally, Morgan Stanley lifted their target price on Gaming and Leisure Properties from $53.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Gaming and Leisure Properties Stock Performance

NASDAQ:GLPI opened at $51.99 on Friday. The stock has a fifty day moving average price of $47.20 and a 200-day moving average price of $45.77. The company has a market cap of $12.87 billion, a price-to-earnings ratio of 23.63, a PEG ratio of 3.17 and a beta of 0.97. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.65 and a current ratio of 1.65. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.81 and a fifty-two week high of $52.67.

Gaming and Leisure Properties (NASDAQ:GLPIGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.27). Gaming and Leisure Properties had a return on equity of 16.86% and a net margin of 42.79%. The business had revenue of $326.40 million for the quarter, compared to analyst estimates of $325.40 million. During the same period last year, the firm posted $0.87 EPS. Gaming and Leisure Properties’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.5 EPS for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Friday, June 10th were issued a $0.705 dividend. This represents a $2.82 dividend on an annualized basis and a yield of 5.42%. The ex-dividend date was Thursday, June 9th. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.69. Gaming and Leisure Properties’s dividend payout ratio is presently 128.18%.

Insiders Place Their Bets

In other news, EVP Brandon John Moore sold 3,000 shares of the stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $52.00, for a total value of $156,000.00. Following the completion of the sale, the executive vice president now owns 185,993 shares of the company’s stock, valued at $9,671,636. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.60% of the company’s stock.

Gaming and Leisure Properties Company Profile

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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.

Further Reading

Want to see what other hedge funds are holding GLPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gaming and Leisure Properties, Inc. (NASDAQ:GLPIGet Rating).

Institutional Ownership by Quarter for Gaming and Leisure Properties (NASDAQ:GLPI)



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