Victory Capital Management Inc. Increases Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Victory Capital Management Inc. increased its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 14.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 793,885 shares of the real estate investment trust’s stock after acquiring an additional 97,594 shares during the quarter. Victory Capital Management Inc. owned approximately 0.29% of Gaming and Leisure Properties worth $35,892,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Foundations Investment Advisors LLC lifted its position in shares of Gaming and Leisure Properties by 8.7% in the 2nd quarter. Foundations Investment Advisors LLC now owns 8,222 shares of the real estate investment trust’s stock worth $372,000 after purchasing an additional 658 shares during the period. Naviter Wealth LLC raised its stake in Gaming and Leisure Properties by 5.0% in the second quarter. Naviter Wealth LLC now owns 19,880 shares of the real estate investment trust’s stock worth $899,000 after buying an additional 954 shares in the last quarter. Fiduciary Family Office LLC lifted its holdings in Gaming and Leisure Properties by 15.7% during the second quarter. Fiduciary Family Office LLC now owns 29,885 shares of the real estate investment trust’s stock worth $1,351,000 after buying an additional 4,061 shares during the period. Rhumbline Advisers lifted its holdings in Gaming and Leisure Properties by 0.9% during the second quarter. Rhumbline Advisers now owns 821,361 shares of the real estate investment trust’s stock worth $37,134,000 after buying an additional 7,441 shares during the period. Finally, Versor Investments LP boosted its position in Gaming and Leisure Properties by 17.0% during the 2nd quarter. Versor Investments LP now owns 19,932 shares of the real estate investment trust’s stock valued at $901,000 after acquiring an additional 2,900 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors.

Gaming and Leisure Properties Trading Up 0.4 %

Shares of NASDAQ:GLPI opened at $52.34 on Wednesday. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.49. Gaming and Leisure Properties, Inc. has a 52-week low of $41.80 and a 52-week high of $52.60. The stock has a market cap of $14.36 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 5.39 and a beta of 0.99. The business has a 50-day moving average price of $49.22 and a 200-day moving average price of $46.19.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.15). The business had revenue of $380.60 million for the quarter, compared to analyst estimates of $377.95 million. Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The business’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 earnings per share. Equities analysts predict that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 5.81%. Gaming and Leisure Properties’s payout ratio is currently 112.18%.

Insider Activity

In related news, CFO Desiree A. Burke sold 12,973 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $52.02, for a total transaction of $674,855.46. Following the sale, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at $5,621,957.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 12,973 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $52.02, for a total value of $674,855.46. Following the sale, the chief financial officer now owns 108,073 shares in the company, valued at approximately $5,621,957.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Brandon John Moore sold 30,900 shares of Gaming and Leisure Properties stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the transaction, the chief operating officer now directly owns 208,977 shares of the company’s stock, valued at $10,459,298.85. The disclosure for this sale can be found here. Insiders sold a total of 49,478 shares of company stock valued at $2,495,429 in the last quarter. 4.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GLPI has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Gaming and Leisure Properties from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th. Stifel Nicolaus increased their price target on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a “buy” rating in a research report on Friday, July 26th. UBS Group lifted their price objective on shares of Gaming and Leisure Properties from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, Scotiabank raised their target price on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 16th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.11.

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.