Systematic Financial Management LP lifted its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Free Report) by 181.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,712 shares of the real estate investment trust’s stock after purchasing an additional 16,575 shares during the quarter. Systematic Financial Management LP’s holdings in Gaming and Leisure Properties were worth $1,149,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of GLPI. First Trust Advisors LP raised its position in Gaming and Leisure Properties by 78.7% in the 2nd quarter. First Trust Advisors LP now owns 283,963 shares of the real estate investment trust’s stock valued at $13,255,000 after buying an additional 125,098 shares during the last quarter. Cerity Partners LLC raised its position in Gaming and Leisure Properties by 18.6% in the 2nd quarter. Cerity Partners LLC now owns 10,233 shares of the real estate investment trust’s stock valued at $478,000 after buying an additional 1,608 shares during the last quarter. Bank of Nova Scotia raised its position in Gaming and Leisure Properties by 16.6% in the 2nd quarter. Bank of Nova Scotia now owns 18,603 shares of the real estate investment trust’s stock valued at $868,000 after buying an additional 2,646 shares during the last quarter. AXA S.A. raised its position in Gaming and Leisure Properties by 478.5% in the 2nd quarter. AXA S.A. now owns 39,543 shares of the real estate investment trust’s stock valued at $1,846,000 after buying an additional 32,708 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in Gaming and Leisure Properties by 276.2% in the 2nd quarter. Squarepoint Ops LLC now owns 70,459 shares of the real estate investment trust’s stock valued at $3,289,000 after buying an additional 51,731 shares during the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.
Gaming and Leisure Properties Stock Performance
Shares of Gaming and Leisure Properties stock opened at $47.78 on Monday. Gaming and Leisure Properties, Inc. has a 1 year low of $41.17 and a 1 year high of $49.95. The firm has a market cap of $13.54 billion, a PE ratio of 15.17, a P/E/G ratio of 2.07 and a beta of 0.68. The stock has a fifty day moving average price of $46.73 and a 200-day moving average price of $45.77. The company has a debt-to-equity ratio of 1.62, a current ratio of 6.29 and a quick ratio of 6.29.
Gaming and Leisure Properties Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $3.28 annualized dividend and a dividend yield of 6.9%. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.78. Gaming and Leisure Properties’s payout ratio is 104.13%.
Wall Street Analysts Forecast Growth
GLPI has been the subject of a number of analyst reports. Mizuho increased their price target on Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, March 11th. Weiss Ratings raised Gaming and Leisure Properties from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 15th. Scotiabank increased their price target on Gaming and Leisure Properties from $50.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 12th. Royal Bank Of Canada increased their price target on Gaming and Leisure Properties from $53.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, February 23rd. Finally, Stifel Nicolaus set a $50.00 price objective on Gaming and Leisure Properties in a research note on Friday, April 24th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.50.
View Our Latest Analysis on GLPI
Insider Buying and Selling at Gaming and Leisure Properties
In other news, CFO Desiree A. Burke sold 9,804 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $49.02, for a total transaction of $480,592.08. Following the completion of the sale, the chief financial officer directly owned 128,352 shares of the company’s stock, valued at $6,291,815.04. This trade represents a 7.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Brandon John Moore sold 16,884 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $48.05, for a total value of $811,276.20. Following the transaction, the chief operating officer owned 257,874 shares of the company’s stock, valued at $12,390,845.70. The trade was a 6.15% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 4.11% of the company’s stock.
Gaming and Leisure Properties Profile
Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.
The company’s core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.
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