Crestline Management LP Has $2.39 Million Stock Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Crestline Management LP raised its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 104.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,533 shares of the real estate investment trust's stock after acquiring an additional 25,320 shares during the quarter. Crestline Management LP's holdings in Gaming and Leisure Properties were worth $2,386,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. US Bancorp DE increased its stake in Gaming and Leisure Properties by 106.2% in the 4th quarter. US Bancorp DE now owns 44,745 shares of the real estate investment trust's stock valued at $2,155,000 after buying an additional 23,050 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Gaming and Leisure Properties by 11.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 24,560 shares of the real estate investment trust's stock worth $1,183,000 after acquiring an additional 2,498 shares in the last quarter. Aew Capital Management L P boosted its position in Gaming and Leisure Properties by 1,786.5% during the fourth quarter. Aew Capital Management L P now owns 761,600 shares of the real estate investment trust's stock valued at $36,679,000 after purchasing an additional 721,230 shares during the last quarter. Raymond James Financial Inc. bought a new position in Gaming and Leisure Properties in the fourth quarter valued at approximately $49,188,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Gaming and Leisure Properties during the 4th quarter worth approximately $768,000. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Macquarie reissued an "outperform" rating and issued a $60.00 target price on shares of Gaming and Leisure Properties in a research note on Friday, April 25th. Scotiabank lowered their price objective on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a "sector perform" rating on the stock in a research note on Thursday, January 16th. Morgan Stanley downgraded shares of Gaming and Leisure Properties from an "overweight" rating to an "equal weight" rating and set a $53.00 target price for the company. in a research note on Wednesday, January 15th. Royal Bank of Canada lowered their price target on Gaming and Leisure Properties from $56.00 to $54.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Finally, Wells Fargo & Company raised their price objective on Gaming and Leisure Properties from $50.00 to $51.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Gaming and Leisure Properties has an average rating of "Moderate Buy" and an average target price of $54.70.

Gaming and Leisure Properties Price Performance

NASDAQ:GLPI traded up $0.38 during trading hours on Friday, reaching $46.80. 1,214,694 shares of the company were exchanged, compared to its average volume of 1,270,826. The business has a 50 day moving average of $48.94 and a 200 day moving average of $49.05. Gaming and Leisure Properties, Inc. has a 1-year low of $42.86 and a 1-year high of $52.60. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35. The company has a market capitalization of $12.86 billion, a P/E ratio of 16.31, a P/E/G ratio of 2.01 and a beta of 0.81.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 EPS for the quarter, hitting analysts' consensus estimates of $0.96. The company had revenue of $395.24 million for the quarter, compared to analysts' expectations of $396.27 million. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. Gaming and Leisure Properties's revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business earned $0.92 earnings per share. Research analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.04 annualized dividend and a dividend yield of 6.50%. Gaming and Leisure Properties's dividend payout ratio is 108.19%.

Insider Buying and Selling

In other news, SVP Matthew Demchyk sold 1,138 shares of Gaming and Leisure Properties stock in a transaction on Friday, February 28th. The stock was sold at an average price of $50.45, for a total value of $57,412.10. Following the transaction, the senior vice president now owns 53,002 shares in the company, valued at approximately $2,673,950.90. This trade represents a 2.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director E Scott Urdang sold 5,000 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $50.89, for a total value of $254,450.00. Following the transaction, the director now directly owns 140,953 shares of the company's stock, valued at $7,173,098.17. This trade represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,842 shares of company stock worth $1,153,961. Corporate insiders own 4.37% of the company's stock.

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.