Gaming and Leisure Properties, Inc. $GLPI Stock Position Increased by CenterBook Partners LP

Key Points

• CenterBook Partners increased its GLPI stake by 430.8% in the third quarter, adding 62,815 shares to hold 77,395 shares valued at about $2.94 million. Institutional investors and hedge funds own 91.14% of the stock.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $47.36; nine rate the stock Buy and seven Hold.
• GLPI’s latest quarter fell short of earnings expectations, reporting $0.71 per share versus a $0.80 consensus estimate. The REIT declared an annualized dividend of $3.28 per share, equivalent to an 8.4% yield based on the article’s share price.

CenterBook Partners LP raised its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 430.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,395 shares of the real estate investment trust's stock after purchasing an additional 62,815 shares during the period. CenterBook Partners LP's holdings in Gaming and Leisure Properties were worth $2,939,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GLPI. Pension & Wealth Management Advisors Inc. purchased a new position in shares of Gaming and Leisure Properties during the third quarter valued at approximately $29,000. Markowski Investments acquired a new stake in Gaming and Leisure Properties during the second quarter worth approximately $35,000. Parkside Financial Bank & Trust grew its stake in Gaming and Leisure Properties by 115.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 794 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 425 shares during the period. Root Financial Partners LLC purchased a new stake in Gaming and Leisure Properties in the 3rd quarter worth approximately $30,000. Finally, Mather Group LLC. raised its holdings in Gaming and Leisure Properties by 54.2% in the 3rd quarter. Mather Group LLC. now owns 799 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 281 shares during the last quarter. 91.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on GLPI. Mizuho reduced their price target on Gaming and Leisure Properties from $53.00 to $48.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 2nd. Stifel Nicolaus lowered their price objective on Gaming and Leisure Properties from $50.00 to $49.00 and set a "hold" rating for the company in a research report on Friday, July 31st. Morgan Stanley lowered their price objective on Gaming and Leisure Properties from $55.00 to $50.00 and set an "equal weight" rating for the company in a research report on Thursday, September 17th. Piper Sandler upgraded Gaming and Leisure Properties to a "buy" rating in a research note on Friday, October 2nd. Finally, Raymond James Financial reiterated an "outperform" rating and set a $47.00 target price on shares of Gaming and Leisure Properties in a research report on Thursday, August 13th. Nine equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Gaming and Leisure Properties currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.36.

Insider Transactions at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director Earl C. Shanks acquired 10,000 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were bought at an average cost of $42.24 per share, for a total transaction of $422,400.00. Following the acquisition, the director directly owned 107,259 shares of the company's stock, valued at $4,530,620.16. This trade represents a 10.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.11% of the company's stock.

Gaming and Leisure Properties Price Performance

Gaming and Leisure Properties stock opened at $38.89 on Friday. Gaming and Leisure Properties, Inc. has a 1 year low of $37.33 and a 1 year high of $49.95. The firm has a 50 day moving average price of $39.54 and a 200 day moving average price of $44.34. The company has a market cap of $11.31 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.99 and a beta of 0.64. The company has a debt-to-equity ratio of 1.52, a quick ratio of 5.38 and a current ratio of 5.38.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). The company had revenue of $435.45 million for the quarter, compared to analysts' expectations of $436.30 million. Gaming and Leisure Properties had a return on equity of 18.16% and a net margin of 55.71%. The business's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 EPS. Sell-side analysts predict that Gaming and Leisure Properties, Inc. will post 4.02 earnings per share for the current year.

Gaming and Leisure Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were paid a dividend of $0.82 per share. The ex-dividend date was Friday, September 11th. This represents a $3.28 annualized dividend and a yield of 8.4%. Gaming and Leisure Properties's dividend payout ratio is currently 100.31%.

About Gaming and Leisure Properties

Gaming and Leisure Properties, Inc NASDAQ: GLPI is a real estate investment trust focused on owning properties used by gaming and leisure businesses. The company leases its properties to casino operators, which generally manage the gaming and hospitality operations.

GLPI was established in 2013 as a spin-off from Penn National Gaming, now known as PENN Entertainment. Its portfolio includes casino and related entertainment properties in multiple U.S. states, and the company grows through property acquisitions, lease arrangements and development financing.

Peter M.

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