Ferguson Wellman Capital Management Inc. Buys 8,791 Shares of Gaming and Leisure Properties Inc (NASDAQ:GLPI)

Ferguson Wellman Capital Management Inc. boosted its position in Gaming and Leisure Properties Inc (NASDAQ:GLPI) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 673,230 shares of the real estate investment trust’s stock after buying an additional 8,791 shares during the quarter. Ferguson Wellman Capital Management Inc. owned approximately 0.31% of Gaming and Leisure Properties worth $25,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Cohen & Steers Inc. boosted its stake in Gaming and Leisure Properties by 25.8% in the second quarter. Cohen & Steers Inc. now owns 4,367,732 shares of the real estate investment trust’s stock worth $170,254,000 after buying an additional 896,341 shares in the last quarter. LSV Asset Management boosted its stake in shares of Gaming and Leisure Properties by 10.2% during the second quarter. LSV Asset Management now owns 3,392,032 shares of the real estate investment trust’s stock valued at $132,221,000 after purchasing an additional 314,900 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Gaming and Leisure Properties by 2,315.0% during the second quarter. Nuveen Asset Management LLC now owns 2,718,537 shares of the real estate investment trust’s stock valued at $105,968,000 after purchasing an additional 2,605,967 shares during the period. Investec Asset Management LTD boosted its stake in shares of Gaming and Leisure Properties by 6.2% during the second quarter. Investec Asset Management LTD now owns 2,033,874 shares of the real estate investment trust’s stock valued at $79,280,000 after purchasing an additional 118,614 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Gaming and Leisure Properties by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 1,453,240 shares of the real estate investment trust’s stock valued at $56,647,000 after purchasing an additional 55,804 shares during the period. 89.50% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:GLPI traded up $0.11 during trading on Tuesday, reaching $38.45. 24,974 shares of the company traded hands, compared to its average volume of 737,917. The firm has a market capitalization of $8.25 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 1.28 and a beta of 0.51. Gaming and Leisure Properties Inc has a 52-week low of $31.19 and a 52-week high of $40.82. The company has a current ratio of 4.80, a quick ratio of 4.80 and a debt-to-equity ratio of 2.78. The business’s fifty day moving average is $38.61 and its 200-day moving average is $38.98.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 7.07%. The ex-dividend date was Thursday, September 5th. Gaming and Leisure Properties’s payout ratio is 85.53%.

A number of analysts have recently weighed in on the company. Zacks Investment Research raised Gaming and Leisure Properties from a “sell” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Wednesday, October 9th. Nomura set a $42.00 price objective on Gaming and Leisure Properties and gave the company a “hold” rating in a research note on Wednesday, August 7th. Morgan Stanley set a $47.00 price objective on Gaming and Leisure Properties and gave the company a “buy” rating in a research note on Friday, August 9th. BidaskClub lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, ValuEngine lowered Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Gaming and Leisure Properties presently has a consensus rating of “Buy” and a consensus price target of $43.50.

In other Gaming and Leisure Properties news, SVP Matthew Demchyk purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was bought at an average price of $37.57 per share, with a total value of $187,850.00. Following the completion of the purchase, the senior vice president now directly owns 42,500 shares of the company’s stock, valued at approximately $1,596,725. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.05% 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.

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

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