D.A. Davidson & CO. Buys 549 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Posted by Defense World Staff on Apr 29th, 2023

D.A. Davidson & CO. boosted its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Get Rating) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,031 shares of the real estate investment trust’s stock after purchasing an additional 549 shares during the quarter. D.A. Davidson & CO.’s holdings in Gaming and Leisure Properties were worth $887,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AE Wealth Management LLC increased its holdings in shares of Gaming and Leisure Properties by 15.2% in the fourth quarter. AE Wealth Management LLC now owns 13,807 shares of the real estate investment trust’s stock worth $719,000 after acquiring an additional 1,823 shares in the last quarter. FORA Capital LLC bought a new stake in shares of Gaming and Leisure Properties in the third quarter worth about $575,000. Barclays PLC increased its holdings in shares of Gaming and Leisure Properties by 124.9% in the third quarter. Barclays PLC now owns 163,395 shares of the real estate investment trust’s stock worth $7,228,000 after acquiring an additional 90,739 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Gaming and Leisure Properties by 11.1% in 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 acquiring an additional 11,595 shares in the last quarter. Finally, Strategic Investment Advisors MI bought a new stake in shares of Gaming and Leisure Properties in the fourth quarter worth about $368,000. Institutional investors own 90.69% of the company’s stock.

Insider Activity at Gaming and Leisure Properties

In related news, COO Brandon John Moore sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $54.00, for a total transaction of $162,000.00. Following the completion of the transaction, the chief operating officer now directly owns 215,981 shares of the company’s stock, valued at $11,662,974. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Brandon John Moore sold 3,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 215,981 shares of the company’s stock, valued at $11,662,974. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director E Scott Urdang acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was acquired at an average cost of $53.82 per share, with a total value of $53,820.00. Following the completion of the transaction, the director now owns 150,132 shares of the company’s stock, valued at $8,080,104.24. The disclosure for this purchase can be found here. Insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GLPI. JMP Securities restated a “market outperform” rating and issued a $57.00 price target on shares of Gaming and Leisure Properties in a report on Tuesday, March 21st. Truist Financial raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and upped their price objective for the stock from $54.00 to $60.00 in a research report on Wednesday, January 11th. StockNews.com cut Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Raymond James upped their price objective on Gaming and Leisure Properties from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, April 6th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.80.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ GLPI opened at $52.00 on Friday. The stock has a 50 day moving average price of $51.61 and a 200 day moving average price of $51.33. Gaming and Leisure Properties, Inc. has a 52 week low of $41.97 and a 52 week high of $55.13. The company has a debt-to-equity ratio of 1.50, a quick ratio of 2.50 and a current ratio of 2.50. The stock has a market capitalization of $13.64 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 4.66 and a beta of 0.99.

Gaming and Leisure Properties Increases Dividend

The business also recently declared 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. 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. This represents a $3.88 annualized dividend and a yield of 7.46%. Gaming and Leisure Properties’s dividend payout ratio is 107.06%.

Gaming and Leisure Properties 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.