Y Intercept Hong Kong Ltd Takes $947,000 Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Key Points

• Y Intercept Hong Kong Ltd made a new investment of approximately $947,000 in Gaming and Leisure Properties, acquiring 18,606 shares of the REIT during the first quarter.
• Gaming and Leisure Properties recently declared a quarterly dividend of $0.78 per share, marking an increase from the previous dividend of $0.76, with a resulting annualized dividend yield of 6.68%.
• Research analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average target price of $53.30, following various adjustments by multiple financial institutions.

Y Intercept Hong Kong Ltd acquired a new stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,606 shares of the real estate investment trust's stock, valued at approximately $947,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Toronto Dominion Bank grew its holdings in 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 buying an additional 905 shares in the last quarter. Perigon Wealth Management LLC bought a new stake in Gaming and Leisure Properties during the first quarter worth $217,000. Envestnet Asset Management Inc. grew its holdings in Gaming and Leisure Properties by 2.8% during the first quarter. Envestnet Asset Management Inc. now owns 604,875 shares of the real estate investment trust's stock worth $30,788,000 after buying an additional 16,617 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Gaming and Leisure Properties by 210.9% during the first quarter. Farther Finance Advisors LLC now owns 2,083 shares of the real estate investment trust's stock worth $106,000 after buying an additional 1,413 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in Gaming and Leisure Properties by 2.8% during the first quarter. Asset Management One Co. Ltd. now owns 591,741 shares of the real estate investment trust's stock worth $30,120,000 after buying an additional 16,043 shares in the last quarter. Institutional investors own 91.14% of the company's stock.

Gaming and Leisure Properties Price Performance

NASDAQ GLPI traded up $0.29 during trading on Tuesday, reaching $46.01. The company's stock had a trading volume of 674,314 shares, compared to its average volume of 1,444,092. The stock has a market capitalization of $12.65 billion, a PE ratio of 17.84, a P/E/G ratio of 10.17 and a beta of 0.72. The company has a debt-to-equity ratio of 1.41, a current ratio of 7.39 and a quick ratio of 7.39. The firm has a fifty day moving average of $46.92 and a 200 day moving average of $48.08. Gaming and Leisure Properties, Inc. has a one year low of $44.48 and a one year high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced 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). The business had revenue of $394.90 million during the quarter, compared to the consensus estimate of $397.27 million. Gaming and Leisure Properties had a return on equity of 15.43% and a net margin of 46.32%. Gaming and Leisure Properties's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 earnings per share. Analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.78 per share. The ex-dividend date was Friday, June 13th. This is a positive change from Gaming and Leisure Properties's previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a dividend yield of 6.78%. Gaming and Leisure Properties's dividend payout ratio is 120.93%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wells Fargo & Company cut their price objective on 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 cut 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 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. Mizuho dropped their price target on Gaming and Leisure Properties from $53.00 to $48.00 and set a "neutral" rating on the stock in a research report on Monday, June 16th. Finally, Macquarie dropped their price target on Gaming and Leisure Properties from $60.00 to $59.00 and set an "outperform" rating on the stock in a research report on Monday. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Gaming and Leisure Properties currently has an average rating of "Moderate Buy" and a consensus target price of $53.16.

Insider Activity at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 4,000 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $46.58, for a total transaction of $186,320.00. Following the transaction, the director directly owned 136,953 shares in the company, valued at approximately $6,379,270.74. This represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.