Raymond James & Associates Purchases 185,348 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Raymond James & Associates raised its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 46.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 580,315 shares of the real estate investment trust’s stock after purchasing an additional 185,348 shares during the quarter. Raymond James & Associates owned 0.21% of Gaming and Leisure Properties worth $29,857,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GLPI. Ashton Thomas Private Wealth LLC purchased a new position in shares of Gaming and Leisure Properties in the second quarter worth approximately $31,000. EdgeRock Capital LLC bought a new position in Gaming and Leisure Properties in the second quarter worth approximately $33,000. MCF Advisors LLC boosted its stake in shares of Gaming and Leisure Properties by 416.7% during the 1st quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 600 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Gaming and Leisure Properties by 18,500.0% during the 2nd quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 740 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Gaming and Leisure Properties by 578.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 590 shares in the last quarter. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Up 0.2 %

Shares of GLPI stock opened at $50.92 on Thursday. The stock has a market cap of $13.82 billion, a P/E ratio of 18.79, a PEG ratio of 5.34 and a beta of 0.99. The company’s fifty day simple moving average is $51.05 and its two-hundred day simple moving average is $47.40. 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 posted its earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). The firm had revenue of $380.60 million during the quarter, compared to analysts’ expectations of $377.95 million. Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. Gaming and Leisure Properties’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Analysts predict that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.76 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.04 annualized dividend and a dividend yield of 5.97%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 112.18%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GLPI. UBS Group lifted their target price on Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a research note on Monday, July 29th. JMP Securities increased their target price on shares of Gaming and Leisure Properties from $53.00 to $55.00 and gave the stock a “market outperform” rating in a report on Monday, August 12th. Raymond James lifted their price target 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. Finally, 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. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $52.18.

Insider Activity

In related news, CFO Desiree A. Burke sold 12,973 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $52.02, for a total value of $674,855.46. Following the sale, the chief financial officer now owns 108,073 shares in the company, valued at approximately $5,621,957.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, COO Brandon John Moore sold 30,900 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $50.05, for a total value of $1,546,545.00. Following the completion of the sale, the chief operating officer now directly owns 208,977 shares of the company’s stock, valued at $10,459,298.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Desiree A. Burke sold 12,973 shares of the business’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 value of $674,855.46. Following the transaction, the chief financial officer now directly owns 108,073 shares in the company, valued at approximately $5,621,957.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,478 shares of company stock worth $2,495,429. 4.40% of the stock is currently owned by insiders.

Gaming and Leisure Properties 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.