Neo Ivy Capital Management Makes New Investment in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Neo Ivy Capital Management bought a new stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 70,008 shares of the real estate investment trust's stock, valued at approximately $3,371,000.

Other large investors also recently added to or reduced their stakes in the company. Dodge & Cox boosted its position in Gaming and Leisure Properties by 75.3% during the fourth quarter. Dodge & Cox now owns 13,498,634 shares of the real estate investment trust's stock worth $650,094,000 after purchasing an additional 5,797,299 shares during the period. Norges Bank acquired a new stake in shares of Gaming and Leisure Properties in the fourth quarter worth $176,123,000. Raymond James Financial Inc. bought a new stake in shares of Gaming and Leisure Properties during the 4th quarter worth $49,188,000. Northern Trust Corp boosted its holdings in shares of Gaming and Leisure Properties by 48.2% during the 4th quarter. Northern Trust Corp now owns 2,873,006 shares of the real estate investment trust's stock worth $138,364,000 after buying an additional 933,842 shares during the period. Finally, Aew Capital Management L P grew its stake in Gaming and Leisure Properties by 1,786.5% in the 4th quarter. Aew Capital Management L P now owns 761,600 shares of the real estate investment trust's stock valued at $36,679,000 after buying an additional 721,230 shares during the last quarter. 91.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GLPI has been the subject of a number of recent analyst reports. Barclays upped their price target on shares of Gaming and Leisure Properties from $53.00 to $54.00 and gave the company an "equal weight" rating in a report on Tuesday, April 22nd. Wells Fargo & Company increased their target price on Gaming and Leisure Properties from $50.00 to $51.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. Scotiabank dropped their price target on Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating on the stock in a research report on Monday, May 12th. Wedbush set a $55.00 price target on Gaming and Leisure Properties in a report on Monday, April 28th. Finally, Mizuho raised their price objective on shares of Gaming and Leisure Properties from $51.00 to $53.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $54.63.

Insiders Place Their Bets

In related news, SVP Matthew Demchyk sold 1,138 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $50.45, for a total transaction of $57,412.10. Following the sale, the senior vice president now directly owns 53,002 shares in the company, valued at $2,673,950.90. This represents a 2.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director E Scott Urdang sold 5,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $50.89, for a total transaction of $254,450.00. Following the transaction, the director now owns 140,953 shares in the company, valued at approximately $7,173,098.17. This trade represents a 3.43% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,842 shares of company stock valued at $905,361. 4.26% of the stock is currently owned by insiders.

Gaming and Leisure Properties Price Performance

NASDAQ GLPI traded down $0.20 during trading on Wednesday, reaching $46.25. 670,403 shares of the company traded hands, compared to its average volume of 1,306,692. Gaming and Leisure Properties, Inc. has a 1-year low of $42.86 and a 1-year high of $52.60. The company has a market cap of $12.71 billion, a price-to-earnings ratio of 16.11, a P/E/G ratio of 2.01 and a beta of 0.81. The stock's 50 day moving average price is $48.03 and its two-hundred day moving average price is $48.75. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. The business had revenue of $395.24 million for the quarter, compared to analyst estimates of $396.27 million. During the same quarter in the previous year, the firm earned $0.92 EPS. Gaming and Leisure Properties's quarterly revenue was up 5.1% on a year-over-year basis. As a group, analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 6.75%. This is a boost from Gaming and Leisure Properties's previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, June 13th. Gaming and Leisure Properties's dividend payout ratio is currently 111.03%.

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.