Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Sees Large Growth in Short Interest

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Get Free Report) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 3,970,000 shares, an increase of 13.4% from the February 29th total of 3,500,000 shares. Based on an average trading volume of 1,480,000 shares, the short-interest ratio is presently 2.7 days.

Insider Transactions at Gaming and Leisure Properties

In related news, CFO Desiree A. Burke sold 1,600 shares of the firm's stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $49.31, for a total transaction of $78,896.00. Following the completion of the sale, the chief financial officer now directly owns 147,710 shares in the company, valued at $7,283,580.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director E Scott Urdang purchased 2,500 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The stock was acquired at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the completion of the acquisition, the director now owns 156,685 shares in the company, valued at approximately $7,050,825. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Desiree A. Burke sold 1,600 shares of the firm's stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $49.31, for a total transaction of $78,896.00. Following the sale, the chief financial officer now owns 147,710 shares of the company's stock, valued at $7,283,580.10. The disclosure for this sale can be found here. Insiders have sold a total of 53,614 shares of company stock valued at $2,621,353 over the last ninety days. Corporate insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On Gaming and Leisure Properties

A number of institutional investors and hedge funds have recently bought and sold shares of GLPI. Atlas Capital Advisors LLC increased its position in Gaming and Leisure Properties by 203.0% during the first quarter. Atlas Capital Advisors LLC now owns 512 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 343 shares during the period. Headlands Technologies LLC bought a new stake in Gaming and Leisure Properties in the 4th quarter valued at $30,000. Operose Advisors LLC bought a new stake in Gaming and Leisure Properties in the 3rd quarter valued at $32,000. EdgeRock Capital LLC bought a new stake in Gaming and Leisure Properties in the 4th quarter valued at $33,000. Finally, Zions Bancorporation N.A. bought a new stake in Gaming and Leisure Properties in the 1st quarter valued at $43,000. Institutional investors own 91.14% of the company's stock.

Gaming and Leisure Properties Stock Performance

Shares of Gaming and Leisure Properties stock traded down $0.25 on Tuesday, reaching $45.27. The stock had a trading volume of 1,131,131 shares, compared to its average volume of 1,482,445. The business's 50-day moving average price is $45.53 and its two-hundred day moving average price is $46.20. The company has a debt-to-equity ratio of 1.48, a quick ratio of 7.41 and a current ratio of 7.41. Gaming and Leisure Properties has a fifty-two week low of $43.54 and a fifty-two week high of $52.45. The stock has a market cap of $12.29 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 5.76 and a beta of 0.94.

Gaming and Leisure Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.76 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.04 dividend on an annualized basis and a yield of 6.72%. This is a positive change from Gaming and Leisure Properties's previous quarterly dividend of $0.73. Gaming and Leisure Properties's payout ratio is 109.75%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Mizuho decreased their price target on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a "neutral" rating for the company in a report on Thursday, March 7th. Morgan Stanley reduced their target price on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday, March 21st. Royal Bank of Canada reduced their target price on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set an "outperform" rating for the company in a research note on Thursday, February 29th. JPMorgan Chase & Co. cut shares of Gaming and Leisure Properties from an "overweight" rating to a "neutral" rating and set a $48.00 target price for the company. in a research note on Thursday, December 14th. Finally, StockNews.com upgraded shares of Gaming and Leisure Properties from a "hold" rating to a "buy" rating in a research note on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $52.50.

Gaming and Leisure Properties Company Profile

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.