Gaming and Leisure Properties, Inc. $GLPI Shares Bought by Swiss National Bank

Key Points

• Swiss National Bank increased its stake in Gaming and Leisure Properties by 10.2% in the first quarter, bringing its holdings to 830,545 shares valued at about $36.9 million.
• The company reported better-than-expected Q1 results, with EPS of $0.82 versus the $0.76 consensus and revenue of $419.99 million, up 6.3% from a year earlier.
• GLPI recently raised its quarterly dividend to $0.82 per share, equal to an annualized yield of about 7.3%, though the payout ratio is above 100%.

Swiss National Bank lifted its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 10.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 830,545 shares of the real estate investment trust's stock after acquiring an additional 76,700 shares during the period. Swiss National Bank owned 0.29% of Gaming and Leisure Properties worth $36,851,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in Gaming and Leisure Properties during the 4th quarter valued at about $29,000. SHP Wealth Management acquired a new stake in shares of Gaming and Leisure Properties in the fourth quarter valued at approximately $30,000. International Assets Investment Management LLC bought a new stake in shares of Gaming and Leisure Properties during the fourth quarter valued at approximately $31,000. True Wealth Design LLC raised its holdings in shares of Gaming and Leisure Properties by 238.3% during the fourth quarter. True Wealth Design LLC now owns 866 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 610 shares during the last quarter. Finally, Blue Trust Inc. acquired a new position in shares of Gaming and Leisure Properties during the first quarter worth approximately $40,000. Institutional investors and hedge funds own 91.14% of the company's stock.

Gaming and Leisure Properties Trading Up 0.4%

Gaming and Leisure Properties stock opened at $44.71 on Thursday. Gaming and Leisure Properties, Inc. has a 12-month low of $41.17 and a 12-month high of $49.95. 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 stock has a market capitalization of $12.67 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 1.97 and a beta of 0.66. The firm has a 50 day simple moving average of $45.74 and a 200-day simple moving average of $46.25.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its earnings results on Thursday, April 23rd. The real estate investment trust reported $0.82 EPS for the quarter, topping the consensus estimate of $0.76 by $0.06. The firm had revenue of $419.99 million for the quarter, compared to analysts' expectations of $417.15 million. Gaming and Leisure Properties had a return on equity of 18.06% and a net margin of 55.56%.The firm's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.96 earnings per share. As a group, equities research analysts expect that Gaming and Leisure Properties, Inc. will post 4.01 EPS for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a $0.82 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 7.3%. This is a boost from Gaming and Leisure Properties's previous quarterly dividend of $0.78. Gaming and Leisure Properties's dividend payout ratio (DPR) is presently 104.13%.

Insider Activity at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 3,000 shares of the company's stock in a transaction on Wednesday, June 10th. The stock was 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 represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GLPI shares. Scotiabank decreased their price objective on Gaming and Leisure Properties from $52.00 to $49.00 and set a "sector perform" rating for the company in a report on Thursday, June 18th. UBS Group set a $49.00 price target on Gaming and Leisure Properties in a research report on Thursday, June 18th. Stifel Nicolaus set a $50.00 price target on Gaming and Leisure Properties in a research note on Friday, April 24th. Wells Fargo & Company lowered their price target 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. Finally, Morgan Stanley lifted 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. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $51.27.

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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