Nuveen LLC Takes Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Key Points

• Nuveen LLC has acquired a stake in Gaming and Leisure Properties, Inc., purchasing approximately 2.98 million shares valued at around $151.7 million, representing a 1.08% ownership.
• The company recently declared a quarterly dividend of $0.78, up from $0.76, providing an annualized yield of 6.9%, although its dividend payout ratio stands at 120.93%.
• Gaming and Leisure Properties, Inc. reported Q2 earnings with a net margin of 46.32% but missed analyst expectations slightly, with an EPS of $0.96 compared to a consensus of $0.97.

Nuveen LLC purchased a new position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,980,803 shares of the real estate investment trust's stock, valued at approximately $151,723,000. Nuveen LLC owned approximately 1.08% of Gaming and Leisure Properties as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Toronto Dominion Bank boosted its holdings in shares of Gaming and Leisure Properties by 2.5% during the fourth quarter. Toronto Dominion Bank now owns 36,869 shares of the real estate investment trust's stock worth $1,776,000 after purchasing an additional 905 shares during the period. Perigon Wealth Management LLC purchased a new stake in shares of Gaming and Leisure Properties during the first quarter worth about $217,000. Envestnet Asset Management Inc. increased its position in Gaming and Leisure Properties by 2.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 604,875 shares of the real estate investment trust's stock valued at $30,788,000 after purchasing an additional 16,617 shares during the period. Assetmark Inc. increased its position in Gaming and Leisure Properties by 49.6% during the 1st quarter. Assetmark Inc. now owns 989 shares of the real estate investment trust's stock valued at $50,000 after purchasing an additional 328 shares during the period. Finally, Farther Finance Advisors LLC increased its position in Gaming and Leisure Properties by 210.9% during the 1st quarter. Farther Finance Advisors LLC now owns 2,083 shares of the real estate investment trust's stock valued at $106,000 after purchasing an additional 1,413 shares during the period. 91.14% of the stock is owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Stock Down 0.8%

Gaming and Leisure Properties stock traded down $0.35 during mid-day trading on Thursday, reaching $45.90. The stock had a trading volume of 1,167,586 shares, compared to its average volume of 1,456,306. The company has a market capitalization of $12.99 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 9.97 and a beta of 0.71. The company has a 50-day moving average price of $46.85 and a two-hundred day moving average price of $47.94. Gaming and Leisure Properties, Inc. has a one year low of $44.48 and a one year high of $52.60. 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 issued its earnings results on Thursday, July 24th. The real estate investment trust reported $0.96 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $397.27 million. During the same period last year, the firm posted $0.94 EPS. Gaming and Leisure Properties's quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Insider Activity at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 3,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $46.54, for a total transaction of $139,620.00. Following the completion of the sale, the director owned 133,953 shares of the company's stock, valued at $6,234,172.62. This represents a 2.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.26% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on GLPI. Wells Fargo & Company reduced their price objective on shares of Gaming and Leisure Properties from $51.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Monday, June 2nd. Stifel Nicolaus downgraded shares of Gaming and Leisure Properties from a "buy" rating to a "hold" rating and set a $51.25 price objective on the stock. in a research report on Monday, July 21st. Scotiabank reduced 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 research report on Monday, May 12th. Royal Bank Of Canada reduced 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 research report on Monday, July 28th. Finally, Wedbush set a $55.00 price objective on shares of Gaming and Leisure Properties in a research report on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.16.

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.