Zacks Investment Management Acquires 39,967 Shares of Gaming and Leisure Properties Inc (NASDAQ:GLPI)

Zacks Investment Management lifted its position in Gaming and Leisure Properties Inc (NASDAQ:GLPI) by 57.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 109,204 shares of the real estate investment trust’s stock after buying an additional 39,967 shares during the period. Zacks Investment Management’s holdings in Gaming and Leisure Properties were worth $4,257,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC raised its holdings in shares of Gaming and Leisure Properties by 100.3% in the first quarter. Signaturefd LLC now owns 721 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 361 shares in the last quarter. MUFG Americas Holdings Corp bought a new stake in shares of Gaming and Leisure Properties in the second quarter valued at about $38,000. DekaBank Deutsche Girozentrale raised its holdings in shares of Gaming and Leisure Properties by 237.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 2,616 shares of the real estate investment trust’s stock valued at $101,000 after acquiring an additional 1,840 shares in the last quarter. Altshuler Shaham Ltd grew its stake in Gaming and Leisure Properties by 122.2% in the second quarter. Altshuler Shaham Ltd now owns 2,682 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 1,475 shares during the last quarter. Finally, Bessemer Group Inc. purchased a new stake in shares of Gaming and Leisure Properties during the second quarter worth about $119,000. Hedge funds and other institutional investors own 89.54% of the company’s stock.

In other Gaming and Leisure Properties news, SVP Matthew Demchyk bought 5,000 shares of Gaming and Leisure Properties stock in a transaction dated Tuesday, August 20th. The stock was acquired at an average cost of $37.57 per share, with a total value of $187,850.00. Following the purchase, the senior vice president now directly owns 42,500 shares in the company, valued at approximately $1,596,725. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 6.05% of the company’s stock.



NASDAQ:GLPI traded down $0.23 during trading hours on Tuesday, reaching $38.52. The company had a trading volume of 691,375 shares, compared to its average volume of 894,462. Gaming and Leisure Properties Inc has a 1-year low of $31.19 and a 1-year high of $40.82. The firm has a market cap of $8.34 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The business’s 50 day moving average price is $38.30 and its 200-day moving average price is $38.81. The company has a debt-to-equity ratio of 2.78, a current ratio of 4.80 and a quick ratio of 4.80.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.33). Gaming and Leisure Properties had a net margin of 29.69% and a return on equity of 14.98%. The company had revenue of $289.01 million during the quarter, compared to analyst estimates of $289.64 million. During the same period in the previous year, the firm posted $0.43 earnings per share. The company’s revenue was up 13.7% compared to the same quarter last year. On average, analysts expect that Gaming and Leisure Properties Inc will post 3.33 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 7.06%. The ex-dividend date was Thursday, September 5th. Gaming and Leisure Properties’s payout ratio is 85.53%.

A number of brokerages recently commented on GLPI. Scotiabank began coverage on Gaming and Leisure Properties in a research report on Monday, July 29th. They issued an “outperform” rating on the stock. Nomura set a $42.00 target price on Gaming and Leisure Properties and gave the company a “hold” rating in a research report on Wednesday, August 7th. Morgan Stanley set a $47.00 target price on Gaming and Leisure Properties and gave the company a “buy” rating in a research report on Friday, August 9th. BidaskClub lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Finally, Zacks Investment Research upgraded Gaming and Leisure Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, September 17th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Gaming and Leisure Properties presently has an average rating of “Buy” and an average price target of $43.22.

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.

See Also: Insider Trading

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

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