Park Avenue Securities LLC Purchases 742 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Park Avenue Securities LLC boosted its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 8.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,610 shares of the real estate investment trust’s stock after buying an additional 742 shares during the period. Park Avenue Securities LLC’s holdings in Gaming and Leisure Properties were worth $494,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Gaming and Leisure Properties by 40.8% during the 4th quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust’s stock worth $627,204,000 after acquiring an additional 3,684,553 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Gaming and Leisure Properties by 36.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,910,169 shares of the real estate investment trust’s stock valued at $134,074,000 after purchasing an additional 781,906 shares during the last quarter. DigitalBridge Group Inc. purchased a new position in shares of Gaming and Leisure Properties in the 2nd quarter worth $16,936,000. Dimensional Fund Advisors LP increased its holdings in shares of Gaming and Leisure Properties by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,104,552 shares of the real estate investment trust’s stock worth $185,564,000 after buying an additional 350,250 shares during the last quarter. Finally, National Bank of Canada FI raised its position in shares of Gaming and Leisure Properties by 126.3% during the 1st quarter. National Bank of Canada FI now owns 454,732 shares of the real estate investment trust’s stock valued at $20,131,000 after buying an additional 253,763 shares in the last quarter. 91.14% of the stock is owned by institutional investors.

Gaming and Leisure Properties Price Performance

Shares of GLPI stock opened at $50.78 on Friday. The company has a market capitalization of $13.79 billion, a P/E ratio of 18.74, a P/E/G ratio of 5.34 and a beta of 0.99. The company’s 50-day simple moving average is $50.74 and its two-hundred day simple moving average is $47.08. Gaming and Leisure Properties, Inc. has a one year low of $41.80 and a one year high of $52.60. The company has a debt-to-equity ratio of 1.49, a current ratio of 5.91 and a quick ratio of 5.91.

Gaming and Leisure Properties (NASDAQ:GLPI) last released 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). Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The firm had revenue of $380.60 million for the quarter, compared to analysts’ expectations of $377.95 million. During the same quarter in the previous year, the business earned $0.92 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, equities analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 5.99%. The ex-dividend date of this dividend was Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 112.18%.

Analysts Set New Price Targets

Several research firms recently commented on GLPI. Scotiabank lifted their price target on Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft boosted their target price on Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a research report on Monday, July 29th. UBS Group increased their price target on Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $53.00 price objective on shares of Gaming and Leisure Properties in a research note on Friday, June 21st. Finally, Stifel Nicolaus increased their target price on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a “buy” rating in a research note on Friday, July 26th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Gaming and Leisure Properties has an average rating of “Moderate Buy” and an average price target of $52.18.

Insiders Place Their Bets

In other news, Director E Scott Urdang sold 5,605 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $48.89, for a total value of $274,028.45. Following the completion of the sale, the director now owns 156,685 shares of the company’s stock, valued at approximately $7,660,329.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director E Scott Urdang sold 5,605 shares of the business’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 completion of the transaction, the director now directly owns 156,685 shares of the company’s stock, valued at approximately $7,660,329.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Brandon John Moore sold 30,900 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $50.05, for a total value of $1,546,545.00. Following the sale, the chief operating officer now owns 208,977 shares of the company’s stock, valued at $10,459,298.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,478 shares of company stock worth $2,495,429 in the last three months. Corporate insiders own 4.40% of the company’s stock.

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.