AE Wealth Management LLC Increases Stock Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Posted by Defense World Staff on Apr 25th, 2023

AE Wealth Management LLC lifted its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Get Rating) by 15.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,807 shares of the real estate investment trust’s stock after acquiring an additional 1,823 shares during the period. AE Wealth Management LLC’s holdings in Gaming and Leisure Properties were worth $719,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. FORA Capital LLC purchased a new position in shares of Gaming and Leisure Properties during the third quarter worth approximately $575,000. Barclays PLC lifted its holdings in shares of Gaming and Leisure Properties by 124.9% during the third quarter. Barclays PLC now owns 163,395 shares of the real estate investment trust’s stock worth $7,228,000 after purchasing an additional 90,739 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Gaming and Leisure Properties by 11.1% during the third quarter. Nisa Investment Advisors LLC now owns 115,815 shares of the real estate investment trust’s stock worth $5,124,000 after purchasing an additional 11,595 shares during the period. Strategic Investment Advisors MI acquired a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth $368,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Gaming and Leisure Properties by 191.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,897,946 shares of the real estate investment trust’s stock worth $83,965,000 after purchasing an additional 1,245,735 shares during the period. 90.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GLPI. StockNews.com began coverage on Gaming and Leisure Properties in a report on Thursday, March 16th. They set a “buy” rating for the company. Raymond James increased their price target on Gaming and Leisure Properties from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, April 6th. Truist Financial raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and increased their price target for the stock from $54.00 to $60.00 in a report on Wednesday, January 11th. Finally, JMP Securities reissued a “market outperform” rating and issued a $57.00 target price on shares of Gaming and Leisure Properties in a report on Tuesday, March 21st. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Gaming and Leisure Properties has an average rating of “Buy” and a consensus price target of $56.80.

Insider Buying and Selling

In other Gaming and Leisure Properties news, COO Brandon John Moore sold 3,000 shares of Gaming and Leisure Properties stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $54.00, for a total value of $162,000.00. Following the completion of the sale, the chief operating officer now owns 215,981 shares in the company, valued at approximately $11,662,974. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Gaming and Leisure Properties news, COO Brandon John Moore sold 3,000 shares of Gaming and Leisure Properties stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $54.00, for a total value of $162,000.00. Following the completion of the sale, the chief operating officer now owns 215,981 shares in the company, valued at approximately $11,662,974. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director E Scott Urdang acquired 1,000 shares of Gaming and Leisure Properties stock in a transaction dated Wednesday, March 1st. The stock was purchased at an average cost of $53.82 per share, for a total transaction of $53,820.00. Following the completion of the purchase, the director now directly owns 150,132 shares in the company, valued at $8,080,104.24. The disclosure for this purchase can be found here. 4.60% of the stock is currently owned by company insiders.

Gaming and Leisure Properties Trading Down 0.5 %

Shares of GLPI stock opened at $51.57 on Tuesday. The stock has a market cap of $13.53 billion, a P/E ratio of 19.17, a P/E/G ratio of 4.75 and a beta of 0.99. The business has a fifty day simple moving average of $51.74 and a 200-day simple moving average of $51.25. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.97 and a fifty-two week high of $55.13. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.50.

Gaming and Leisure Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Investors of record on Friday, March 10th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 7.52%. The ex-dividend date of this dividend was Thursday, March 9th. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.71. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 107.06%.

Gaming and Leisure Properties Company Profile

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Gaming & Leisure Properties, Inc engages in 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.