Xponance Inc. Raises Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Xponance Inc. raised its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,754 shares of the real estate investment trust’s stock after purchasing an additional 1,729 shares during the quarter. Xponance Inc.’s holdings in Gaming and Leisure Properties were worth $1,715,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. CWM LLC grew its stake in shares of Gaming and Leisure Properties by 38.7% during the third quarter. CWM LLC now owns 1,954 shares of the real estate investment trust’s stock valued at $89,000 after acquiring an additional 545 shares in the last quarter. AE Wealth Management LLC grew its stake in shares of Gaming and Leisure Properties by 79.3% during the third quarter. AE Wealth Management LLC now owns 23,613 shares of the real estate investment trust’s stock valued at $1,076,000 after acquiring an additional 10,445 shares in the last quarter. DnB Asset Management AS grew its stake in shares of Gaming and Leisure Properties by 21.0% during the third quarter. DnB Asset Management AS now owns 56,780 shares of the real estate investment trust’s stock valued at $2,586,000 after acquiring an additional 9,867 shares in the last quarter. Measured Wealth Private Client Group LLC grew its stake in shares of Gaming and Leisure Properties by 19.9% during the third quarter. Measured Wealth Private Client Group LLC now owns 10,055 shares of the real estate investment trust’s stock valued at $458,000 after acquiring an additional 1,669 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new stake in shares of Gaming and Leisure Properties during the third quarter valued at about $416,000. 91.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Royal Bank of Canada lowered their target price on Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. JMP Securities reiterated a “market outperform” rating and issued a $53.00 price target on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. Mizuho decreased their price target on Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, March 7th. Finally, Morgan Stanley decreased their price target on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Gaming and Leisure Properties has a consensus rating of “Moderate Buy” and a consensus price target of $52.09.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ GLPI opened at $43.54 on Wednesday. The firm’s 50-day moving average price is $44.95 and its two-hundred day moving average price is $45.94. The stock has a market capitalization of $11.82 billion, a P/E ratio of 15.72, a P/E/G ratio of 5.34 and a beta of 0.94. The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 1.48. Gaming and Leisure Properties, Inc. has a 52-week low of $41.80 and a 52-week high of $52.31.

Gaming and Leisure Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.98%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. Gaming and Leisure Properties’s payout ratio is 109.75%.

Insider Activity

In other Gaming and Leisure Properties news, Director E Scott Urdang purchased 2,500 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were bought at an average price of $45.00 per share, with a total value of $112,500.00. Following the completion of the acquisition, the director now owns 156,685 shares in the company, valued at approximately $7,050,825. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

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.