Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Purchased by Ieq Capital LLC

Ieq Capital LLC grew its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 0.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 90,749 shares of the real estate investment trust’s stock after acquiring an additional 257 shares during the quarter. Ieq Capital LLC’s holdings in Gaming and Leisure Properties were worth $4,103,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new position in Gaming and Leisure Properties during the 2nd quarter valued at about $31,000. EdgeRock Capital LLC bought a new stake in shares of Gaming and Leisure Properties during the second quarter valued at approximately $33,000. MCF Advisors LLC boosted its position in shares of Gaming and Leisure Properties by 416.7% during the first quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 600 shares during the period. Versant Capital Management Inc grew its holdings in Gaming and Leisure Properties by 18,500.0% in the 2nd quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 740 shares in the last quarter. Finally, Mather Group LLC. acquired a new stake in Gaming and Leisure Properties in the 1st quarter valued at approximately $42,000. Institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ GLPI opened at $50.90 on Friday. The stock’s fifty day simple moving average is $50.20 and its 200 day simple moving average is $46.52. The stock has a market capitalization of $13.82 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 5.47 and a beta of 0.99. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.49. 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 results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The company had revenue of $380.60 million during the quarter, compared to analysts’ expectations of $377.95 million. During the same period in the prior year, the business posted $0.92 EPS. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, sell-side analysts forecast 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, September 27th. Investors of record on Friday, September 13th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date is Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio is 112.18%.

Insiders Place Their Bets

In other news, Director E Scott Urdang sold 5,605 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the completion of the sale, the director now owns 156,685 shares in the company, valued at $7,660,329.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Desiree A. Burke sold 12,973 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $52.02, for a total transaction of $674,855.46. Following the completion of the sale, the chief financial officer now directly owns 108,073 shares in the company, valued at $5,621,957.46. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director E Scott Urdang sold 5,605 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $48.89, for a total transaction of $274,028.45. Following the completion of the transaction, the director now owns 156,685 shares in the company, valued at approximately $7,660,329.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,478 shares of company stock worth $2,495,429. Corporate insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on GLPI. UBS Group boosted their price target on Gaming and Leisure Properties from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Stifel Nicolaus upped their price objective on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a “buy” rating in a report on Friday, July 26th. JMP Securities increased their target price on shares of Gaming and Leisure Properties from $53.00 to $55.00 and gave the company a “market outperform” rating in a research report on Monday, August 12th. StockNews.com upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a report on Monday, July 29th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.11.

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.