Sound Income Strategies LLC Increases Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Sound Income Strategies LLC increased its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 8.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 323,526 shares of the real estate investment trust's stock after purchasing an additional 25,429 shares during the quarter. Sound Income Strategies LLC owned 0.12% of Gaming and Leisure Properties worth $16,467,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. US Bancorp DE grew its stake in Gaming and Leisure Properties by 106.2% in the 4th quarter. US Bancorp DE now owns 44,745 shares of the real estate investment trust's stock valued at $2,155,000 after acquiring an additional 23,050 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Gaming and Leisure Properties by 11.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 24,560 shares of the real estate investment trust's stock valued at $1,183,000 after acquiring an additional 2,498 shares during the last quarter. 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 acquiring an additional 721,230 shares during the last quarter. Toronto Dominion Bank grew its stake in Gaming and Leisure Properties by 2.5% in the 4th quarter. Toronto Dominion Bank now owns 36,869 shares of the real estate investment trust's stock valued at $1,776,000 after acquiring an additional 905 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Gaming and Leisure Properties in the 4th quarter valued at about $49,188,000. Hedge funds and other institutional investors own 91.14% of the company's stock.

Gaming and Leisure Properties Price Performance

GLPI opened at $46.20 on Friday. The company's 50 day simple moving average is $47.24 and its 200 day simple moving average is $48.44. 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, Inc. has a 1 year low of $43.20 and a 1 year high of $52.60. The stock has a market capitalization of $12.70 billion, a PE ratio of 16.10, a P/E/G ratio of 2.01 and a beta of 0.72.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last released its earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. The business had revenue of $395.24 million for the quarter, compared to analysts' expectations of $396.27 million. During the same period last year, the company earned $0.92 earnings per share. The company's quarterly revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a $0.78 dividend. The ex-dividend date of this dividend 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 annualized dividend and a dividend yield of 6.75%. Gaming and Leisure Properties's dividend payout ratio (DPR) is currently 111.03%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GLPI shares. Scotiabank lowered 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 note on Monday, May 12th. Macquarie reissued an "outperform" rating and issued a $60.00 price objective on shares of Gaming and Leisure Properties in a research note on Friday, April 25th. Wedbush set a $55.00 price target on shares of Gaming and Leisure Properties in a research note on Monday, April 28th. Wells Fargo & Company decreased their price target 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 note on Monday, June 2nd. Finally, Royal Bank of Canada decreased their price target on shares of Gaming and Leisure Properties from $56.00 to $54.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $54.50.

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.

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