Metis Global Partners LLC purchased a new stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 4,051 shares of the real estate investment trust’s stock, valued at approximately $211,000.
Other institutional investors have also recently made changes to their positions in the company. AE Wealth Management LLC raised its position in shares of Gaming and Leisure Properties by 15.2% during the 4th quarter. AE Wealth Management LLC now owns 13,807 shares of the real estate investment trust’s stock valued at $719,000 after buying an additional 1,823 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of Gaming and Leisure Properties by 8.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 81,973 shares of the real estate investment trust’s stock valued at $4,270,000 after buying an additional 6,260 shares during the period. Victory Capital Management Inc. raised its position in shares of Gaming and Leisure Properties by 4.5% during the 4th quarter. Victory Capital Management Inc. now owns 481,631 shares of the real estate investment trust’s stock valued at $25,325,000 after buying an additional 20,778 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Gaming and Leisure Properties by 2.1% during the 1st quarter. Exchange Traded Concepts LLC now owns 65,200 shares of the real estate investment trust’s stock valued at $3,394,000 after buying an additional 1,316 shares during the period. Finally, Naviter Wealth LLC raised its position in shares of Gaming and Leisure Properties by 37.2% during the 1st quarter. Naviter Wealth LLC now owns 13,339 shares of the real estate investment trust’s stock valued at $694,000 after buying an additional 3,615 shares during the period. Hedge funds and other institutional investors own 89.60% of the company’s stock.
Analyst Upgrades and Downgrades
GLPI has been the topic of a number of research analyst reports. BNP Paribas initiated coverage on Gaming and Leisure Properties in a research report on Wednesday, June 14th. They issued an “outperform” rating and a $63.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $54.00 target price on shares of Gaming and Leisure Properties in a research report on Tuesday, August 1st. StockNews.com initiated coverage on Gaming and Leisure Properties in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating and cut their target price for the company from $60.00 to $52.00 in a research report on Wednesday, July 5th. Finally, Mizuho cut their target price on Gaming and Leisure Properties from $53.00 to $50.00 in a research report on Thursday. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.10.
Insider Activity
In other news, Director Barry F. Schwartz bought 1,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average price of $47.35 per share, for a total transaction of $47,350.00. Following the completion of the purchase, the director now owns 52,823 shares in the company, valued at approximately $2,501,169.05. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.40% of the company’s stock.
Gaming and Leisure Properties Stock Down 0.3 %
Gaming and Leisure Properties stock opened at $47.79 on Friday. Gaming and Leisure Properties, Inc. has a twelve month low of $43.46 and a twelve month high of $55.13. The stock’s fifty day simple moving average is $48.65 and its 200-day simple moving average is $50.36. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $12.55 billion, a P/E ratio of 16.54, a P/E/G ratio of 4.26 and a beta of 0.98.
Gaming and Leisure Properties Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 16th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 6.03%. The ex-dividend date was Thursday, June 15th. Gaming and Leisure Properties’s dividend payout ratio is presently 99.65%.
Gaming and Leisure Properties 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.
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