Geode Capital Management LLC Has $312.32 Million Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Geode Capital Management LLC boosted its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,080,860 shares of the real estate investment trust’s stock after acquiring an additional 161,689 shares during the period. Geode Capital Management LLC owned 2.22% of Gaming and Leisure Properties worth $312,316,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Assetmark Inc. grew its position in Gaming and Leisure Properties by 2,547.6% during the third quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 535 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Gaming and Leisure Properties in the 2nd quarter valued at $31,000. EdgeRock Capital LLC bought a new position in shares of Gaming and Leisure Properties during the second quarter valued at about $33,000. Farther Finance Advisors LLC raised its holdings in Gaming and Leisure Properties by 142.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 384 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Gaming and Leisure Properties by 578.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 590 shares during the period. 91.14% of the stock is owned by institutional investors.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ:GLPI opened at $50.09 on Friday. The firm has a fifty day simple moving average of $50.49 and a two-hundred day simple moving average of $49.00. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $13.74 billion, a P/E ratio of 17.51, a PEG ratio of 2.10 and a beta of 0.98. Gaming and Leisure Properties, Inc. has a 52 week low of $41.80 and a 52 week high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). The company had revenue of $385.34 million for the quarter, compared to analysts’ expectations of $385.09 million. Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $0.92 earnings per share. On average, analysts expect that Gaming and Leisure Properties, Inc. will post 3.67 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, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 6.07%. The ex-dividend date of this dividend is Friday, December 6th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 106.29%.

Insider Activity

In related news, Director E Scott Urdang sold 6,885 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.16, for a total value of $345,351.60. Following the sale, the director now directly owns 149,800 shares of the company’s stock, valued at $7,513,968. This represents a 4.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JMP Securities restated a “market outperform” rating and issued a $55.00 target price on shares of Gaming and Leisure Properties in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and raised their target price for the stock from $49.00 to $54.00 in a research note on Wednesday, November 20th. Mizuho dropped their price target on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Raymond James lifted 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 research note on Wednesday, August 21st. Finally, JPMorgan Chase & Co. upgraded Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $49.00 to $54.00 in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.96.

Gaming and Leisure Properties Company Profile

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.