Focus Partners Wealth increased its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 549.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,381 shares of the real estate investment trust's stock after purchasing an additional 26,552 shares during the quarter. Focus Partners Wealth's holdings in Gaming and Leisure Properties were worth $1,511,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. EP Wealth Advisors LLC boosted its stake in Gaming and Leisure Properties by 0.8% in the 4th quarter. EP Wealth Advisors LLC now owns 40,993 shares of the real estate investment trust's stock worth $1,974,000 after purchasing an additional 307 shares during the period. Crestline Management LP grew its stake in Gaming and Leisure Properties by 104.6% during the fourth quarter. Crestline Management LP now owns 49,533 shares of the real estate investment trust's stock valued at $2,386,000 after acquiring an additional 25,320 shares in the last quarter. Cetera Investment Advisers increased its holdings in Gaming and Leisure Properties by 9.5% in the 4th quarter. Cetera Investment Advisers now owns 61,800 shares of the real estate investment trust's stock valued at $2,976,000 after acquiring an additional 5,383 shares during the last quarter. Centiva Capital LP lifted its stake in Gaming and Leisure Properties by 46.7% in the 4th quarter. Centiva Capital LP now owns 11,588 shares of the real estate investment trust's stock worth $558,000 after purchasing an additional 3,687 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co purchased a new stake in Gaming and Leisure Properties in the 4th quarter worth $238,000. Hedge funds and other institutional investors own 91.14% of the company's stock.
Insider Activity at Gaming and Leisure Properties
In related news, Director E Scott Urdang sold 5,000 shares of the business's stock in a transaction that occurred on 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 approximately $7,173,098.17. The trade was a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Matthew Demchyk sold 1,138 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 53,002 shares in the company, valued at approximately $2,673,950.90. This trade represents a 2.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,842 shares of company stock worth $1,153,961 in the last 90 days. 4.26% of the stock is owned by corporate insiders.
Gaming and Leisure Properties Trading Down 1.1%
Gaming and Leisure Properties stock traded down $0.51 during midday trading on Thursday, reaching $45.87. The stock had a trading volume of 231,661 shares, compared to its average volume of 1,294,599. 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 firm has a market cap of $12.61 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 2.01 and a beta of 0.81. 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 fifty day moving average of $48.40 and a 200 day moving average of $48.86.
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 EPS for the quarter, meeting analysts' consensus estimates of $0.96. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. The firm had revenue of $395.24 million for the quarter, compared to analysts' expectations of $396.27 million. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The company's quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts anticipate 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 business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 6.80%. The ex-dividend date is Friday, June 13th. This is an increase from Gaming and Leisure Properties's previous quarterly dividend of $0.76. Gaming and Leisure Properties's dividend payout ratio (DPR) is currently 111.03%.
Analyst Ratings Changes
Several brokerages have recently issued reports on GLPI. Macquarie reaffirmed an "outperform" rating and issued a $60.00 target price on shares of Gaming and Leisure Properties in a report on Friday, April 25th. Barclays lifted their price objective on Gaming and Leisure Properties from $53.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 22nd. Royal Bank of Canada cut 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. Scotiabank reduced their price target 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. Finally, Mizuho increased their price objective on shares of Gaming and Leisure Properties from $51.00 to $53.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Gaming and Leisure Properties currently has an average rating of "Moderate Buy" and an average price target of $54.63.
Read Our Latest Research Report on Gaming and Leisure Properties
About Gaming and Leisure Properties
(
Free Report)
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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