Jefferies Financial Group Inc. Buys New Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Key Points

• Jefferies Financial Group Inc. has acquired a new stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI), purchasing 20,216 shares valued at approximately $1.03 million in the first quarter.
• The company recently increased its quarterly dividend from $0.76 to $0.78 per share, resulting in an annualized dividend yield of 6.6%.
• Gaming and Leisure Properties reported earnings of $0.96 per share for the last quarter, which fell short of the consensus estimate by $0.01, with a revenue of $394.90 million.

Jefferies Financial Group Inc. purchased a new position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,216 shares of the real estate investment trust's stock, valued at approximately $1,029,000.

Other hedge funds have also modified their holdings of the company. Alpine Bank Wealth Management bought a new position in Gaming and Leisure Properties in the 1st quarter worth approximately $26,000. Private Trust Co. NA acquired a new stake in Gaming and Leisure Properties in the first quarter worth $28,000. TD Private Client Wealth LLC grew its stake in 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 acquiring an additional 213 shares during the period. Wayfinding Financial LLC bought a new position in Gaming and Leisure Properties in the first quarter valued at approximately $33,000. Finally, Cullen Frost Bankers Inc. raised its position in Gaming and Leisure Properties by 1,872.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 651 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 618 shares during the last quarter. 91.14% of the stock is owned by institutional investors and hedge funds.

Gaming and Leisure Properties Trading Down 0.3%

NASDAQ:GLPI traded down $0.16 during mid-day trading on Friday, reaching $45.95. 316,380 shares of the company's stock traded hands, compared to its average volume of 1,455,714. The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 9.96 and a beta of 0.71. Gaming and Leisure Properties, Inc. has a 12-month low of $44.48 and a 12-month high of $52.60. The company has a 50 day moving average price of $46.89 and a 200-day moving average price of $48.01. The company has a debt-to-equity ratio of 1.41, a current ratio of 7.39 and a quick ratio of 7.39.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last released its earnings results 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 firm had revenue of $394.90 million during the quarter, compared to analysts' expectations of $397.27 million. During the same quarter in the previous year, the business earned $0.94 EPS. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts predict that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current year.

Gaming and Leisure Properties Increases Dividend

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

Insider Buying and Selling at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 4,000 shares of Gaming and Leisure Properties stock in a transaction 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 transaction, the director owned 136,953 shares in the company, valued at approximately $6,379,270.74. The trade was a 2.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on GLPI. Macquarie dropped their price target on shares of Gaming and Leisure Properties from $60.00 to $59.00 and set an "outperform" rating on the stock in a research report on Monday, July 28th. Barclays boosted their price target on Gaming and Leisure Properties from $54.00 to $55.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Scotiabank cut their price objective on Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating on the stock in a report on Monday, May 12th. Wedbush set a $55.00 price objective on shares of Gaming and Leisure Properties in a research note on Monday, April 28th. Finally, Mizuho lowered 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. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Gaming and Leisure Properties has an average rating of "Moderate Buy" and a consensus target price of $53.16.

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.