Skandinaviska Enskilda Banken AB publ Buys 129,800 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Key Points

• Skandinaviska Enskilda Banken AB increased its stake in Gaming and Leisure Properties, Inc. by 115.9% during the first quarter, owning 241,808 shares worth approximately $12.3 million as of its latest filing.
• The company reported $0.96 earnings per share for the last quarter, missing the consensus estimate by $0.01, while quarterly revenue stood at $394.9 million.
• Gaming and Leisure Properties announced a quarterly dividend increase to $0.78 per share, reflecting a yield of 6.68%, despite a high payout ratio of 120.93%.

Skandinaviska Enskilda Banken AB publ increased its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 115.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 241,808 shares of the real estate investment trust's stock after purchasing an additional 129,800 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.09% of Gaming and Leisure Properties worth $12,308,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Alpine Bank Wealth Management purchased a new position in shares of Gaming and Leisure Properties in the first quarter valued at $26,000. Private Trust Co. NA purchased a new position in shares of Gaming and Leisure Properties in the first quarter valued at $28,000. TD Private Client Wealth LLC grew its position in shares of Gaming and Leisure Properties by 64.2% in the first quarter. TD Private Client Wealth LLC now owns 545 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 213 shares in the last quarter. Wayfinding Financial LLC purchased a new position in shares of Gaming and Leisure Properties in the first quarter valued at $33,000. Finally, Cullen Frost Bankers Inc. grew its position in shares of Gaming and Leisure Properties by 1,872.7% in the first quarter. Cullen Frost Bankers Inc. now owns 651 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 618 shares in the last quarter. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 4,000 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $46.58, for a total value of $186,320.00. Following the completion of the sale, the director owned 136,953 shares of the company's stock, valued at approximately $6,379,270.74. The trade was a 2.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.26% of the company's stock.

Gaming and Leisure Properties Price Performance

GLPI stock traded up $0.14 during mid-day trading on Wednesday, hitting $46.40. 422,518 shares of the stock were exchanged, compared to its average volume of 1,445,144. The company has a debt-to-equity ratio of 1.41, a current ratio of 7.39 and a quick ratio of 7.39. The business has a fifty day moving average price of $46.92 and a 200 day moving average price of $48.08. Gaming and Leisure Properties, Inc. has a 12 month low of $44.48 and a 12 month high of $52.60. The stock has a market capitalization of $12.75 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 9.96 and a beta of 0.72.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $394.90 million for the quarter, compared to the consensus estimate of $397.27 million. During the same period last year, the firm earned $0.94 EPS. The company's revenue for the quarter was up 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date was Friday, June 13th. This is a positive change from Gaming and Leisure Properties's previous quarterly dividend of $0.76. Gaming and Leisure Properties's payout ratio is 120.93%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Royal Bank Of Canada reduced their target price on Gaming and Leisure Properties from $54.00 to $53.00 and set an "outperform" rating for the company in a research report on Monday. 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 research report on Monday, June 2nd. Scotiabank reduced their target price on Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating for the company in a research report on Monday, May 12th. Stifel Nicolaus cut Gaming and Leisure Properties from a "buy" rating to a "hold" rating and set a $51.25 target price for the company. in a research report on Monday, July 21st. Finally, Mizuho reduced their target price on Gaming and Leisure Properties from $53.00 to $48.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $53.16.

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.