GraniteShares Advisors LLC Invests $1.47 Million in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

GraniteShares Advisors LLC bought a new position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 29,841 shares of the real estate investment trust's stock, valued at approximately $1,473,000. Gaming and Leisure Properties comprises approximately 1.3% of GraniteShares Advisors LLC's portfolio, making the stock its 24th biggest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank acquired a new stake in Gaming and Leisure Properties during the fourth quarter valued at approximately $129,106,000. Bank of New York Mellon Corp grew its holdings in Gaming and Leisure Properties by 78.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,906,793 shares of the real estate investment trust's stock worth $132,404,000 after buying an additional 1,278,566 shares in the last quarter. Wellington Management Group LLP grew its holdings in Gaming and Leisure Properties by 13.6% in the 1st quarter. Wellington Management Group LLP now owns 10,515,906 shares of the real estate investment trust's stock worth $493,511,000 after buying an additional 1,255,222 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Gaming and Leisure Properties by 811.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,349,554 shares of the real estate investment trust's stock worth $70,260,000 after buying an additional 1,201,444 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Gaming and Leisure Properties by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 34,218,955 shares of the real estate investment trust's stock worth $1,605,894,000 after buying an additional 1,199,697 shares in the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ GLPI traded down $0.71 during mid-day trading on Tuesday, hitting $42.10. The company had a trading volume of 1,655,011 shares, compared to its average volume of 1,440,345. The company has a debt-to-equity ratio of 1.48, a current ratio of 7.41 and a quick ratio of 7.41. The business's 50-day simple moving average is $45.27 and its 200-day simple moving average is $46.05. Gaming and Leisure Properties, Inc. has a 12 month low of $41.94 and a 12 month high of $52.45. The firm has a market cap of $11.43 billion, a P/E ratio of 15.45, a PEG ratio of 5.37 and a beta of 0.94.

Gaming and Leisure Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.76 per share. This is a boost from Gaming and Leisure Properties's previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.04 dividend on an annualized basis and a yield of 7.22%. Gaming and Leisure Properties's dividend payout ratio (DPR) is currently 109.75%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Royal Bank of Canada decreased their price objective on Gaming and Leisure Properties from $50.00 to $49.00 and set an "outperform" rating for the company in a report on Thursday, February 29th. Mizuho decreased their price target on Gaming and Leisure Properties from $50.00 to $47.00 and set a "neutral" rating for the company in a research note on Thursday, March 7th. JMP Securities reaffirmed a "market outperform" rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. Morgan Stanley decreased their price target on 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. Finally, StockNews.com raised Gaming and Leisure Properties from a "hold" rating to a "buy" rating in a research note on Thursday, February 29th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $52.09.

Insiders Place Their Bets

In other Gaming and Leisure Properties news, Director E Scott Urdang purchased 2,500 shares of the business's stock in a transaction on Friday, March 1st. The stock was purchased at an average price of $45.00 per share, for a total transaction of $112,500.00. Following the completion of the purchase, the director now directly owns 156,685 shares in the company, valued at $7,050,825. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.40% of the company's stock.

About Gaming and Leisure Properties

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.

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