LPL Financial LLC Has $10.17 Million Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Key Points

• LPL Financial LLC increased its stake in Gaming and Leisure Properties, Inc. by 7.4%, holding close to $10.17 million in shares.
• Gaming and Leisure Properties recently declared a quarterly dividend of $0.78, marking a positive change from its previous dividend of $0.76, with a current yield of 6.8%.
• Analysts have set various price targets for Gaming and Leisure Properties, with a consensus price target of $53.16 and a current average rating of "Moderate Buy."

LPL Financial LLC lifted its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 199,701 shares of the real estate investment trust's stock after purchasing an additional 13,840 shares during the quarter. LPL Financial LLC owned approximately 0.07% of Gaming and Leisure Properties worth $10,165,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GLPI. GF Fund Management CO. LTD. lifted its stake in Gaming and Leisure Properties by 4.2% in the first quarter. GF Fund Management CO. LTD. now owns 5,197 shares of the real estate investment trust's stock valued at $265,000 after buying an additional 211 shares during the period. TD Private Client Wealth LLC grew its holdings in Gaming and Leisure Properties by 64.2% during 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 during the period. Pure Financial Advisors LLC lifted its stake in Gaming and Leisure Properties by 2.6% in the first quarter. Pure Financial Advisors LLC now owns 8,676 shares of the real estate investment trust's stock valued at $442,000 after buying an additional 221 shares in the last quarter. Freedom Investment Management Inc. lifted its position in shares of Gaming and Leisure Properties by 3.8% in the fourth quarter. Freedom Investment Management Inc. now owns 6,063 shares of the real estate investment trust's stock worth $292,000 after purchasing an additional 222 shares in the last quarter. Finally, Woodward Diversified Capital LLC lifted its position in shares of Gaming and Leisure Properties by 5.8% in the first quarter. Woodward Diversified Capital LLC now owns 4,402 shares of the real estate investment trust's stock worth $224,000 after purchasing an additional 243 shares in the last quarter. Institutional investors and hedge funds own 91.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GLPI. Barclays upped their price target on shares of Gaming and Leisure Properties from $54.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Scotiabank decreased their price objective on shares of 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 report on Monday, April 28th. Macquarie decreased their price objective on shares of Gaming and Leisure Properties from $60.00 to $59.00 and set an "outperform" rating on the stock in a report on Monday, July 28th. Finally, Royal Bank Of Canada decreased their price objective on shares of Gaming and Leisure Properties from $54.00 to $53.00 and set an "outperform" rating on the stock in a report on Monday, July 28th. Seven equities 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.com, the stock has an average rating of "Moderate Buy" and an average price target of $53.16.

Gaming and Leisure Properties Price Performance

Shares of Gaming and Leisure Properties stock traded up $0.36 during trading on Tuesday, reaching $45.90. 744,650 shares of the company's stock were exchanged, compared to its average volume of 1,454,376. 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, Inc. has a 1-year low of $44.48 and a 1-year high of $52.60. The company has a market cap of $12.99 billion, a P/E ratio of 17.79, a PEG ratio of 9.98 and a beta of 0.71. The firm's 50-day moving average price is $46.86 and its 200 day moving average price is $47.97.

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 earnings per share 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 business had revenue of $394.90 million during the quarter, compared to the consensus estimate of $397.27 million. During the same period in the prior year, the firm earned $0.94 EPS. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share 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 issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 6.8%. 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 dividend payout ratio (DPR) is 120.93%.

Insider Transactions at Gaming and Leisure Properties

In other 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 value of $186,320.00. Following the completion of the sale, the director owned 136,953 shares in the company, valued at $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 available through this link. Insiders own 4.26% of the company's stock.

Gaming and Leisure Properties 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.