BTC Capital Management Inc. Makes New Investment in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

BTC Capital Management Inc. bought a new stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,559 shares of the real estate investment trust’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds also recently modified their holdings of GLPI. Raleigh Capital Management Inc. lifted its holdings in Gaming and Leisure Properties by 3.0% during the third quarter. Raleigh Capital Management Inc. now owns 6,872 shares of the real estate investment trust’s stock valued at $313,000 after purchasing an additional 203 shares during the last quarter. Moody National Bank Trust Division lifted its stake in shares of Gaming and Leisure Properties by 1.2% during the 1st quarter. Moody National Bank Trust Division now owns 19,068 shares of the real estate investment trust’s stock valued at $878,000 after buying an additional 231 shares in the last quarter. Securian Asset Management Inc. boosted its holdings in Gaming and Leisure Properties by 1.3% in the 4th quarter. Securian Asset Management Inc. now owns 22,534 shares of the real estate investment trust’s stock worth $1,112,000 after buying an additional 289 shares during the period. Corient Private Wealth LLC grew its stake in Gaming and Leisure Properties by 1.9% in the 4th quarter. Corient Private Wealth LLC now owns 17,844 shares of the real estate investment trust’s stock valued at $881,000 after buying an additional 327 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its holdings in Gaming and Leisure Properties by 4.9% during the 4th quarter. Foundations Investment Advisors LLC now owns 7,583 shares of the real estate investment trust’s stock valued at $352,000 after acquiring an additional 354 shares during the period. 91.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GLPI has been the subject of a number of analyst reports. Wells Fargo & Company cut their price target on Gaming and Leisure Properties from $49.00 to $48.00 and set an “equal weight” rating for the company in a report on Thursday, May 30th. Morgan Stanley restated an “overweight” rating and issued a $53.00 target price on shares of Gaming and Leisure Properties in a research note on Friday. Stifel Nicolaus upped their price target on Gaming and Leisure Properties from $50.75 to $51.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Scotiabank increased their price target on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $53.00 price objective on shares of Gaming and Leisure Properties in a research note on Monday, June 17th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Gaming and Leisure Properties currently has an average rating of “Hold” and an average target price of $50.33.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ GLPI opened at $44.37 on Friday. The stock’s 50-day moving average is $44.03 and its 200 day moving average is $45.49. The stock has a market cap of $12.05 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 5.17 and a beta of 0.96. Gaming and Leisure Properties, Inc. has a 1-year low of $41.80 and a 1-year high of $50.06. The company has a current ratio of 6.47, a quick ratio of 6.47 and a debt-to-equity ratio of 1.49.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.64 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.26). Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. The business had revenue of $376.00 million for the quarter, compared to analysts’ expectations of $368.44 million. During the same period last year, the business posted $0.92 earnings per share. The company’s revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.65 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.04 annualized dividend and a yield of 6.85%. Gaming and Leisure Properties’s payout ratio is 112.18%.

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.