Wealth Enhancement Advisory Services LLC Raises Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Wealth Enhancement Advisory Services LLC raised its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,330 shares of the real estate investment trust’s stock after buying an additional 744 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Gaming and Leisure Properties were worth $594,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Stonebridge Financial Group LLC acquired a new stake in Gaming and Leisure Properties in the 4th quarter valued at about $31,000. Quarry LP lifted its holdings in shares of Gaming and Leisure Properties by 52.5% in the 4th quarter. Quarry LP now owns 979 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 337 shares during the period. Bessemer Group Inc. raised its holdings in Gaming and Leisure Properties by 149.8% during the fourth quarter. Bessemer Group Inc. now owns 1,029 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 617 shares during the last quarter. Park Square Financial Group LLC acquired a new position in shares of Gaming and Leisure Properties in the fourth quarter worth $52,000. Finally, Parvin Asset Management LLC purchased a new position in shares of Gaming and Leisure Properties during the fourth quarter valued at approximately $53,000. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Stock Performance

Shares of GLPI opened at $47.63 on Thursday. The firm has a 50-day moving average of $47.22 and a 200-day moving average of $48.52. Gaming and Leisure Properties, Inc. has a one year low of $43.06 and a one year high of $52.60. The company has a market cap of $13.09 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 2.01 and a beta of 0.72. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. The business had revenue of $395.24 million during the quarter, compared to analysts’ expectations of $396.27 million. During the same quarter in the previous year, the company earned $0.92 EPS. The business’s revenue was up 5.1% on a year-over-year basis. As a group, equities analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current year.

Gaming and Leisure Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 6.55%. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.76. The ex-dividend date is Friday, June 13th. Gaming and Leisure Properties’s payout ratio is presently 111.03%.

Wall Street Analyst Weigh In

Several brokerages recently commented on GLPI. Mizuho upped their price target on shares of Gaming and Leisure Properties from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. Royal Bank of Canada reduced their price target on shares of Gaming and Leisure Properties from $56.00 to $54.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Wells Fargo & Company cut their price objective on shares of Gaming and Leisure Properties from $51.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Monday, June 2nd. Barclays raised their target price on shares of Gaming and Leisure Properties from $53.00 to $54.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 22nd. Finally, Macquarie reiterated an “outperform” rating and issued a $60.00 target price on shares of Gaming and Leisure Properties in a report on Friday, April 25th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and an average target price of $54.50.

About Gaming and Leisure Properties

Gaming & Leisure Properties, Inc engages in the provision of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.