Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Bought by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC increased its stake in Gaming and Leisure Properties, Inc. by 255.6%, owning a total of 15,791 shares valued at $804,000 as of the latest SEC filing.
• Gaming and Leisure Properties recently announced a quarterly dividend increase to $0.78 per share, which represents a 6.8% yield and a payout ratio of 120.93%.
• The company's stock is trading around $45.91, with a market cap of $12.99 billion, while analysts currently rate it as a "Moderate Buy."

Headlands Technologies LLC boosted its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 255.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,791 shares of the real estate investment trust's stock after purchasing an additional 11,350 shares during the quarter. Headlands Technologies LLC's holdings in Gaming and Leisure Properties were worth $804,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Toronto Dominion Bank raised its position in Gaming and Leisure Properties by 2.5% during the 4th quarter. Toronto Dominion Bank now owns 36,869 shares of the real estate investment trust's stock worth $1,776,000 after buying an additional 905 shares during the last quarter. Perigon Wealth Management LLC purchased a new position in Gaming and Leisure Properties during the 1st quarter worth $217,000. Envestnet Asset Management Inc. raised its position in Gaming and Leisure Properties by 2.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 604,875 shares of the real estate investment trust's stock worth $30,788,000 after buying an additional 16,617 shares during the last quarter. Assetmark Inc. raised its position in Gaming and Leisure Properties by 49.6% during the 1st quarter. Assetmark Inc. now owns 989 shares of the real estate investment trust's stock worth $50,000 after buying an additional 328 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Gaming and Leisure Properties by 210.9% during the 1st quarter. Farther Finance Advisors LLC now owns 2,083 shares of the real estate investment trust's stock worth $106,000 after purchasing an additional 1,413 shares during the period. Hedge funds and other institutional investors own 91.14% of the company's stock.

Insider Activity

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 3,000 shares of the firm's stock in a transaction dated 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 directly owned 133,953 shares of the company's stock, valued at $6,234,172.62. This trade represents a 2.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Macquarie cut their price target on shares of Gaming and Leisure Properties from $60.00 to $59.00 and set an "outperform" rating for the company in a report on Monday, July 28th. Royal Bank Of Canada cut their price target on shares of Gaming and Leisure Properties from $54.00 to $53.00 and set an "outperform" rating for the company in a report on Monday, July 28th. Wells Fargo & Company cut their price target on shares of 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. Mizuho cut their price target on shares of Gaming and Leisure Properties from $53.00 to $48.00 and set a "neutral" rating for the company in a report on Monday, June 16th. Finally, Barclays increased 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 report on Monday, July 21st. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $53.16.

Gaming and Leisure Properties Price Performance

NASDAQ GLPI traded up $0.26 during trading hours on Wednesday, reaching $46.13. The company's stock had a trading volume of 620,721 shares, compared to its average volume of 1,451,765. The stock has a market cap of $13.05 billion, a PE ratio of 17.89, a PEG ratio of 9.90 and a beta of 0.71. Gaming and Leisure Properties, Inc. has a fifty-two week low of $44.48 and a fifty-two week high of $52.60. The company's 50-day moving average is $46.85 and its two-hundred day moving average is $47.95. 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 issued its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.96 EPS for the quarter, missing analysts' consensus estimates of $0.97 by ($0.01). Gaming and Leisure Properties had a net margin of 46.32% and a return on equity of 15.43%. The business had revenue of $394.90 million during the quarter, compared to analyst estimates of $397.27 million. During the same period in the previous year, the company posted $0.94 earnings per share. Gaming and Leisure Properties's revenue was up 3.8% on a year-over-year basis. Analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.12 annualized dividend and a dividend yield of 6.8%. This is an increase from Gaming and Leisure Properties's previous quarterly dividend of $0.76. Gaming and Leisure Properties's dividend payout ratio is 120.93%.

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.