SummitTX Capital L.P. Has $11.65 Million Holdings in Gaming and Leisure Properties, Inc. $GLPI

SummitTX Capital L.P. boosted its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 23.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 262,670 shares of the real estate investment trust's stock after purchasing an additional 49,637 shares during the period. SummitTX Capital L.P. owned about 0.09% of Gaming and Leisure Properties worth $11,655,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in shares of Gaming and Leisure Properties during the fourth quarter worth about $29,000. SHP Wealth Management acquired a new stake in Gaming and Leisure Properties in the 4th quarter valued at approximately $30,000. International Assets Investment Management LLC bought a new stake in Gaming and Leisure Properties in the 4th quarter valued at approximately $31,000. Blue Trust Inc. bought a new stake in Gaming and Leisure Properties in the 1st quarter valued at approximately $40,000. Finally, Monetary Solutions Ltd acquired a new position in Gaming and Leisure Properties during the 4th quarter worth approximately $53,000. Institutional investors and hedge funds own 91.14% of the company's stock.

Gaming and Leisure Properties Stock Performance

NASDAQ GLPI opened at $45.17 on Monday. The company has a market cap of $12.80 billion, a PE ratio of 14.34, a PEG ratio of 2.00 and a beta of 0.66. The company has a current ratio of 6.29, a quick ratio of 6.29 and a debt-to-equity ratio of 1.62. Gaming and Leisure Properties, Inc. has a 12 month low of $41.17 and a 12 month high of $49.95. The stock has a 50 day moving average of $45.67 and a 200-day moving average of $46.25.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last issued its earnings results on Thursday, April 23rd. The real estate investment trust reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.06. Gaming and Leisure Properties had a net margin of 55.56% and a return on equity of 18.06%. The business had revenue of $419.99 million for the quarter, compared to the consensus estimate of $417.15 million. During the same period in the previous year, the company earned $0.96 earnings per share. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Gaming and Leisure Properties, Inc. will post 4.01 EPS for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 7.3%. This is a boost from Gaming and Leisure Properties's previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Friday, June 12th. Gaming and Leisure Properties's dividend payout ratio (DPR) is presently 104.13%.

Insiders Place Their Bets

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $48.32, for a total value of $144,960.00. Following the sale, the director owned 127,429 shares in the company, valued at $6,157,369.28. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.11% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GLPI has been the topic of a number of recent research reports. Scotiabank lowered their price objective on shares of Gaming and Leisure Properties from $52.00 to $49.00 and set a "sector perform" rating on the stock in a report on Thursday, June 18th. Weiss Ratings cut shares of Gaming and Leisure Properties from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, June 17th. Morgan Stanley raised their target price on shares of Gaming and Leisure Properties from $53.00 to $55.00 and gave the company an "equal weight" rating in a research report on Monday, July 6th. UBS Group set a $49.00 price target on shares of Gaming and Leisure Properties in a research report on Thursday, June 18th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Gaming and Leisure Properties from $53.00 to $51.00 and set an "overweight" rating for the company in a research note on Tuesday, June 30th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $51.27.

Gaming and Leisure Properties Profile

Gaming and Leisure Properties, Inc NASDAQ: GLPI is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.

The company's core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.

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