Hurley Capital LLC Has $597,000 Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Key Points

• Hurley Capital LLC significantly increased its stake in Gaming and Leisure Properties, Inc. by 88.1% during the 1st quarter, owning a total of 11,734 shares valued at approximately $597,000.
• The company recently increased its quarterly dividend from $0.76 to $0.78 per share, reflecting a yield of 6.82%, but its payout ratio stands at a high 120.93%.
• Gaming and Leisure Properties reported earnings per share of $0.96 for the last quarter, missing analyst estimates by $0.01, while its revenue increased by 3.8% year-over-year.

Hurley Capital LLC boosted its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 88.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,734 shares of the real estate investment trust's stock after buying an additional 5,495 shares during the quarter. Hurley Capital LLC's holdings in Gaming and Leisure Properties were worth $597,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Wincap Financial LLC increased its position in Gaming and Leisure Properties by 6.3% during the first quarter. Wincap Financial LLC now owns 14,995 shares of the real estate investment trust's stock worth $763,000 after buying an additional 885 shares during the last quarter. LPL Financial LLC increased its position in Gaming and Leisure Properties by 7.4% during the first quarter. LPL Financial LLC now owns 199,701 shares of the real estate investment trust's stock worth $10,165,000 after buying an additional 13,840 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Gaming and Leisure Properties by 0.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 182,614 shares of the real estate investment trust's stock worth $9,295,000 after buying an additional 1,198 shares during the last quarter. TD Asset Management Inc increased its position in Gaming and Leisure Properties by 11.8% during the first quarter. TD Asset Management Inc now owns 76,727 shares of the real estate investment trust's stock worth $3,905,000 after buying an additional 8,079 shares during the last quarter. Finally, HB Wealth Management LLC lifted its stake in shares of Gaming and Leisure Properties by 101.1% during the 1st quarter. HB Wealth Management LLC now owns 8,799 shares of the real estate investment trust's stock worth $448,000 after buying an additional 4,423 shares during the last quarter. Institutional investors and hedge funds own 91.14% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on GLPI shares. Scotiabank cut 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 research note on Monday, May 12th. Macquarie reduced their price objective on Gaming and Leisure Properties from $60.00 to $59.00 and set an "outperform" rating for the company in a report on Monday. Mizuho reduced their price objective on 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. Stifel Nicolaus cut Gaming and Leisure Properties from a "buy" rating to a "hold" rating and set a $51.25 price objective for the company. in a report on Monday, July 21st. Finally, Wells Fargo & Company reduced their price objective 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 research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Gaming and Leisure Properties presently has an average rating of "Moderate Buy" and a consensus target price of $53.16.

Gaming and Leisure Properties Price Performance

Shares of GLPI stock traded up $0.58 during trading on Friday, hitting $46.16. The company had a trading volume of 979,122 shares, compared to its average volume of 1,458,610. The company has a debt-to-equity ratio of 1.41, a quick ratio of 7.39 and a current ratio of 7.39. The firm has a market capitalization of $13.06 billion, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 9.94 and a beta of 0.72. The stock's 50-day moving average price is $46.88 and its 200 day moving average price is $48.05. Gaming and Leisure Properties, Inc. has a one year low of $44.48 and a one year high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.96 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $394.90 million for the quarter, compared to analyst estimates of $397.27 million. During the same quarter in the prior year, the firm earned $0.94 earnings per share. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 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 27th. Shareholders of record on Friday, June 13th were given a dividend of $0.78 per share. This is an increase from Gaming and Leisure Properties's previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a yield of 6.8%. The ex-dividend date was Friday, June 13th. Gaming and Leisure Properties's dividend payout ratio (DPR) is presently 120.93%.

Insider Buying and Selling

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 4,000 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $46.58, for a total transaction of $186,320.00. Following the completion of the transaction, the director directly owned 136,953 shares in the company, valued at $6,379,270.74. The trade was a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.26% of the stock is currently owned by corporate insiders.

Gaming and Leisure Properties Company Profile

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.