Point72 Asset Management L.P. Takes $27.06 Million Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Point72 Asset Management L.P. bought a new position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 525,891 shares of the real estate investment trust’s stock, valued at approximately $27,057,000. Point72 Asset Management L.P. owned about 0.19% of Gaming and Leisure Properties at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cetera Investment Advisers grew its position in shares of Gaming and Leisure Properties by 52.8% in the 1st quarter. Cetera Investment Advisers now owns 54,504 shares of the real estate investment trust’s stock worth $2,511,000 after buying an additional 18,837 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Gaming and Leisure Properties by 41.6% in the second quarter. GAMMA Investing LLC now owns 1,545 shares of the real estate investment trust’s stock valued at $70,000 after acquiring an additional 454 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new stake in Gaming and Leisure Properties in the second quarter valued at $209,000. Manning & Napier Advisors LLC purchased a new position in Gaming and Leisure Properties during the 2nd quarter valued at $3,165,000. Finally, QRG Capital Management Inc. raised its holdings in Gaming and Leisure Properties by 0.7% in the 2nd quarter. QRG Capital Management Inc. now owns 131,871 shares of the real estate investment trust’s stock worth $5,962,000 after purchasing an additional 895 shares in the last quarter. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Insider Activity

In other news, Director E Scott Urdang sold 3,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $50.39, for a total transaction of $151,170.00. Following the transaction, the director now directly owns 146,800 shares of the company’s stock, valued at $7,397,252. This represents a 2.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.37% of the company’s stock.

Gaming and Leisure Properties Price Performance

Shares of GLPI opened at $51.52 on Friday. Gaming and Leisure Properties, Inc. has a twelve month low of $41.80 and a twelve month high of $52.60. The company has a market capitalization of $14.14 billion, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 2.17 and a beta of 0.98. The firm has a 50 day moving average of $50.63 and a 200 day moving average of $48.81. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The business had revenue of $385.34 million during the quarter, compared to the consensus estimate of $385.09 million. During the same period in the previous year, the business posted $0.92 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities research analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 5.90%. The ex-dividend date of this dividend is Friday, December 6th. Gaming and Leisure Properties’s dividend payout ratio is currently 106.29%.

Analysts Set New Price Targets

Several brokerages recently issued reports on GLPI. StockNews.com cut shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. JMP Securities reissued a “market outperform” rating and issued a $55.00 target price on shares of Gaming and Leisure Properties in a research report on Tuesday, October 29th. Mizuho dropped their price target on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Stifel Nicolaus increased their price objective on Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Raymond James boosted their target price on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.32.

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.