Banco Santander S.A. Buys Shares of 100,416 Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Key Points

• Banco Santander S.A. acquired a new position in Gaming and Leisure Properties, purchasing 100,416 shares valued at approximately $5.11 million during the first quarter.
• The company recently increased its dividend to $0.78 per share, up from the previous $0.76, resulting in an annualized yield of 6.8%.
• Despite a slight miss on quarterly earnings per share, Gaming and Leisure Properties reported a year-over-year revenue increase of 3.8%, with a total of $394.90 million in revenue for the quarter.

Banco Santander S.A. acquired a new position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 100,416 shares of the real estate investment trust's stock, valued at approximately $5,111,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Dodge & Cox increased its position in Gaming and Leisure Properties by 75.3% during the 4th quarter. Dodge & Cox now owns 13,498,634 shares of the real estate investment trust's stock valued at $650,094,000 after purchasing an additional 5,797,299 shares during the period. Raymond James Financial Inc. bought a new position in shares of Gaming and Leisure Properties in the 4th quarter worth approximately $49,188,000. Northern Trust Corp boosted its position in shares of Gaming and Leisure Properties by 48.2% during the fourth quarter. Northern Trust Corp now owns 2,873,006 shares of the real estate investment trust's stock valued at $138,364,000 after purchasing an additional 933,842 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Gaming and Leisure Properties in the first quarter worth $12,114,000. Finally, Hsbc Holdings PLC raised its holdings in Gaming and Leisure Properties by 41.5% in the fourth quarter. Hsbc Holdings PLC now owns 800,089 shares of the real estate investment trust's stock worth $38,452,000 after purchasing an additional 234,473 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors.

Gaming and Leisure Properties Stock Down 0.1%

NASDAQ GLPI traded down $0.04 on Thursday, reaching $45.78. 129,613 shares of the stock traded hands, compared to its average volume of 1,456,554. Gaming and Leisure Properties, Inc. has a 12 month low of $44.48 and a 12 month high of $52.60. The company has a market cap of $12.95 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 10.11 and a beta of 0.71. The company has a fifty day moving average price of $46.89 and a 200-day moving average price of $48.02. The company has a debt-to-equity ratio of 1.41, a quick ratio of 7.39 and a current ratio of 7.39.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $394.90 million during the quarter, compared to analysts' expectations of $397.27 million. During the same period in the prior year, the business posted $0.94 EPS. The company's quarterly revenue was up 3.8% on a year-over-year basis. As a group, research analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a $0.78 dividend. The ex-dividend date was Friday, June 13th. This represents a $3.12 annualized dividend and a yield of 6.8%. This is a boost from Gaming and Leisure Properties's previous quarterly dividend of $0.76. Gaming and Leisure Properties's payout ratio is currently 120.93%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GLPI shares. Barclays lifted their price target on shares of Gaming and Leisure Properties from $54.00 to $55.00 and gave the company an "equal weight" rating in a research report on Monday, July 21st. Royal Bank Of Canada cut their target price on Gaming and Leisure Properties from $54.00 to $53.00 and set an "outperform" rating on the stock in a research note on Monday, July 28th. Mizuho dropped their price target on shares of Gaming and Leisure Properties from $53.00 to $48.00 and set a "neutral" rating on the stock in a research note on Monday, June 16th. Scotiabank decreased their target price on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating for the company in a report on Monday, May 12th. Finally, Wells Fargo & Company reduced their target price on Gaming and Leisure Properties from $51.00 to $49.00 and set an "equal weight" rating for the company in a report on Monday, June 2nd. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Gaming and Leisure Properties currently has an average rating of "Moderate Buy" and a consensus target price of $53.16.

Insider Buying and Selling

In related news, Director E Scott Urdang sold 3,000 shares of the firm's 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 sale, the director owned 133,953 shares in the company, valued at approximately $6,234,172.62. This trade represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.26% of the company's stock.

About Gaming and Leisure Properties

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.