Paralel Advisors LLC Takes $605,000 Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Paralel Advisors LLC acquired a new position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPIFree Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,260 shares of the real estate investment trust’s stock, valued at approximately $605,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth $141,537,000. Jennison Associates LLC increased its holdings in Gaming and Leisure Properties by 54.8% in the 4th quarter. Jennison Associates LLC now owns 3,378,874 shares of the real estate investment trust’s stock worth $166,747,000 after purchasing an additional 1,195,765 shares in the last quarter. Invesco Ltd. raised its position in Gaming and Leisure Properties by 54.6% in the third quarter. Invesco Ltd. now owns 3,301,293 shares of the real estate investment trust’s stock valued at $150,374,000 after purchasing an additional 1,165,459 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Gaming and Leisure Properties by 30.2% during the third quarter. Northern Trust Corp now owns 2,397,529 shares of the real estate investment trust’s stock valued at $109,207,000 after purchasing an additional 555,474 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Gaming and Leisure Properties by 1.5% during the third quarter. Vanguard Group Inc. now owns 37,572,599 shares of the real estate investment trust’s stock valued at $1,711,432,000 after purchasing an additional 555,332 shares in the last quarter. Institutional investors own 91.14% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GLPI. Morgan Stanley dropped their price objective on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. Scotiabank boosted their price objective on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 16th. JMP Securities reaffirmed a “market outperform” rating and set a $53.00 target price on shares of Gaming and Leisure Properties in a research report on Tuesday, May 21st. StockNews.com lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Finally, Mizuho lowered their price objective on Gaming and Leisure Properties from $47.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.46.

Get Our Latest Stock Report on GLPI

Gaming and Leisure Properties Stock Up 0.3 %

Shares of Gaming and Leisure Properties stock traded up $0.15 during trading on Monday, reaching $44.65. 965,700 shares of the company traded hands, compared to its average volume of 1,365,705. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.47 and a quick ratio of 6.47. The firm has a market capitalization of $12.12 billion, a PE ratio of 16.48, a P/E/G ratio of 5.25 and a beta of 0.94. The company has a 50 day moving average price of $44.41 and a 200-day moving average price of $45.71. Gaming and Leisure Properties, Inc. has a 1-year low of $41.80 and a 1-year high of $50.59.

Gaming and Leisure Properties (NASDAQ:GLPIGet Free Report) last released its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). The company had revenue of $376.00 million for the quarter, compared to the consensus estimate of $368.44 million. Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. Gaming and Leisure Properties’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the company earned $0.92 EPS. As a group, equities research analysts expect that Gaming and Leisure Properties, Inc. will post 3.66 earnings per share for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be paid a $0.76 dividend. The ex-dividend date is Friday, June 7th. This represents a $3.04 dividend on an annualized basis and a yield of 6.81%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 112.18%.

Insider Activity

In other Gaming and Leisure Properties news, Director E Scott Urdang purchased 2,500 shares of Gaming and Leisure Properties stock in a transaction that occurred on Friday, March 1st. The stock was acquired at an average price of $45.00 per share, with a total value of $112,500.00. Following the transaction, the director now owns 156,685 shares in the company, valued at approximately $7,050,825. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.40% of the company’s stock.

Gaming and Leisure Properties Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Gaming and Leisure Properties (NASDAQ:GLPI)

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