Applied Fundamental Research LLC Increases Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Applied Fundamental Research LLC boosted its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 4.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 326,587 shares of the real estate investment trust’s stock after acquiring an additional 14,702 shares during the period. Gaming and Leisure Properties accounts for 10.9% of Applied Fundamental Research LLC’s portfolio, making the stock its 4th largest position. Applied Fundamental Research LLC’s holdings in Gaming and Leisure Properties were worth $14,765,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its position in Gaming and Leisure Properties by 27.4% in the 1st quarter. Russell Investments Group Ltd. now owns 309,882 shares of the real estate investment trust’s stock valued at $14,276,000 after buying an additional 66,601 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of Gaming and Leisure Properties by 19.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 153,195 shares of the real estate investment trust’s stock worth $7,560,000 after acquiring an additional 24,489 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Gaming and Leisure Properties in the 1st quarter valued at $2,396,000. Wellington Management Group LLP boosted its stake in Gaming and Leisure Properties by 40.8% in the 4th quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust’s stock valued at $627,204,000 after purchasing an additional 3,684,553 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in Gaming and Leisure Properties by 88.3% in the 4th quarter. Hsbc Holdings PLC now owns 418,246 shares of the real estate investment trust’s stock valued at $20,642,000 after purchasing an additional 196,084 shares during the period. Institutional investors own 91.14% of the company’s stock.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 5,605 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $48.89, for a total transaction of $274,028.45. Following the transaction, the director now directly owns 156,685 shares of the company’s stock, valued at $7,660,329.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director E Scott Urdang sold 5,605 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the sale, the director now directly owns 156,685 shares of the company’s stock, valued at $7,660,329.65. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Desiree A. Burke sold 12,973 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 108,073 shares in the company, valued at $5,621,957.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,478 shares of company stock worth $2,495,429. 4.40% of the stock is currently owned by insiders.

Gaming and Leisure Properties Stock Performance

Shares of GLPI opened at $50.90 on Monday. The company has a market cap of $13.82 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 5.47 and a beta of 0.99. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49. The stock has a 50-day moving average price of $50.20 and a 200-day moving average price of $46.54. Gaming and Leisure Properties, Inc. has a 12-month low of $41.80 and a 12-month high of $52.60.

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

Gaming and Leisure Properties Announces Dividend

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 given a $0.76 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.04 annualized dividend and a yield of 5.97%. Gaming and Leisure Properties’s payout ratio is currently 112.18%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GLPI. Deutsche Bank Aktiengesellschaft lifted their price objective on Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a report on Monday, July 29th. Morgan Stanley reissued an “overweight” rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a report on Friday, June 21st. Wolfe Research raised Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research note on Friday, August 23rd. Scotiabank increased their target price on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 16th. Finally, StockNews.com raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Friday, July 19th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.11.

Gaming and Leisure Properties Company 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.