Swiss National Bank lessened its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Free Report) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,022,045 shares of the real estate investment trust’s stock after selling 20,900 shares during the quarter. Swiss National Bank owned approximately 0.39% of Gaming and Leisure Properties worth $53,208,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently modified their holdings of GLPI. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Gaming and Leisure Properties by 23.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,197 shares of the real estate investment trust’s stock worth $760,000 after purchasing an additional 3,049 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Gaming and Leisure Properties by 46.2% during the 1st quarter. Bank of Montreal Can now owns 123,317 shares of the real estate investment trust’s stock worth $5,837,000 after purchasing an additional 38,942 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in shares of Gaming and Leisure Properties during the 1st quarter worth approximately $219,000. Great West Life Assurance Co. Can grew its holdings in shares of Gaming and Leisure Properties by 41.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 21,974 shares of the real estate investment trust’s stock worth $1,086,000 after purchasing an additional 6,399 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its stake in Gaming and Leisure Properties by 22.2% in the 1st quarter. Yousif Capital Management LLC now owns 14,425 shares of the real estate investment trust’s stock valued at $677,000 after buying an additional 2,620 shares in the last quarter. Institutional investors and hedge funds own 89.60% of the company’s stock.
Wall Street Analysts Forecast Growth
GLPI has been the topic of several recent analyst reports. StockNews.com initiated coverage on Gaming and Leisure Properties in a research note on Thursday. They issued a “hold” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $54.00 price target on shares of Gaming and Leisure Properties in a research note on Tuesday, August 1st. Deutsche Bank Aktiengesellschaft lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating and decreased their price target for the company from $60.00 to $52.00 in a research note on Wednesday, July 5th. Mizuho decreased their price target on Gaming and Leisure Properties from $53.00 to $50.00 in a research note on Thursday, August 10th. Finally, BNP Paribas began coverage on Gaming and Leisure Properties in a research note on Wednesday, June 14th. They issued an “outperform” rating and a $63.00 price objective on the stock. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.10.
Gaming and Leisure Properties Trading Up 0.8 %
GLPI stock opened at $45.94 on Friday. The company has a market cap of $12.07 billion, a P/E ratio of 15.90, a PEG ratio of 4.05 and a beta of 0.98. Gaming and Leisure Properties, Inc. has a twelve month low of $43.46 and a twelve month high of $55.13. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 1.54. The business has a fifty day moving average of $48.29 and a 200-day moving average of $50.13.
Gaming and Leisure Properties Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 6.27%. Gaming and Leisure Properties’s payout ratio is currently 99.65%.
Insider Transactions at Gaming and Leisure Properties
In other news, Director Barry F. Schwartz bought 1,500 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was bought at an average price of $45.83 per share, for a total transaction of $68,745.00. Following the completion of the transaction, the director now directly owns 55,323 shares in the company, valued at approximately $2,535,453.09. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Barry F. Schwartz acquired 1,500 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was acquired at an average price of $45.83 per share, for a total transaction of $68,745.00. Following the completion of the acquisition, the director now owns 55,323 shares of the company’s stock, valued at approximately $2,535,453.09. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barry F. Schwartz acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average price of $47.74 per share, with a total value of $47,740.00. Following the acquisition, the director now directly owns 53,823 shares of the company’s stock, valued at approximately $2,569,510.02. The disclosure for this purchase can be found here. Insiders bought a total of 3,500 shares of company stock worth $163,835 over the last 90 days. 4.40% of the stock is owned by insiders.
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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