Novem Group Invests $786,000 in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Novem Group purchased a new position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 16,323 shares of the real estate investment trust's stock, valued at approximately $786,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC boosted its position in shares of Gaming and Leisure Properties by 129.1% during the third quarter. Barclays PLC now owns 896,831 shares of the real estate investment trust's stock worth $46,142,000 after acquiring an additional 505,382 shares during the last quarter. Merit Financial Group LLC bought a new position in Gaming and Leisure Properties during the 4th quarter worth about $526,000. HB Wealth Management LLC purchased a new stake in Gaming and Leisure Properties during the fourth quarter worth $211,000. UMB Bank n.a. grew its stake in Gaming and Leisure Properties by 57.4% during the 4th quarter. UMB Bank n.a. now owns 1,368 shares of the real estate investment trust's stock worth $66,000 after buying an additional 499 shares during the last quarter. Finally, Pure Financial Advisors LLC increased its holdings in shares of Gaming and Leisure Properties by 6.3% during the fourth quarter. Pure Financial Advisors LLC now owns 8,455 shares of the real estate investment trust's stock valued at $407,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 91.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GLPI. Royal Bank of Canada dropped their target price on shares of Gaming and Leisure Properties from $56.00 to $54.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Mizuho lifted their price target 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. Wells Fargo & Company boosted their price objective on Gaming and Leisure Properties from $50.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Macquarie reaffirmed an "outperform" rating and issued a $60.00 target price on shares of Gaming and Leisure Properties in a research report on Friday, April 25th. Finally, Scotiabank cut their target price 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. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $54.63.

Gaming and Leisure Properties Trading Up 0.8%

NASDAQ GLPI traded up $0.38 during trading hours on Tuesday, hitting $46.61. 375,696 shares of the company were exchanged, compared to its average volume of 1,302,375. Gaming and Leisure Properties, Inc. has a 52 week low of $42.86 and a 52 week high of $52.60. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. The stock has a 50-day moving average price of $48.13 and a 200 day moving average price of $48.77. The stock has a market cap of $12.81 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 2.01 and a beta of 0.81.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share for the quarter, meeting analysts' consensus estimates of $0.96. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. The company had revenue of $395.24 million during the quarter, compared to analysts' expectations of $396.27 million. During the same quarter in the previous year, the company earned $0.92 earnings per share. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. Analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $0.78 dividend. The ex-dividend date is Friday, June 13th. This is a boost from Gaming and Leisure Properties's previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a yield of 6.69%. Gaming and Leisure Properties's dividend payout ratio is currently 111.03%.

Insider Activity at Gaming and Leisure Properties

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

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.