Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Sees Large Decrease in Short Interest

Gaming and Leisure Properties, Inc. (NASDAQ:GLPIGet Rating) was the target of a significant drop in short interest during the month of April. As of April 30th, there was short interest totalling 3,380,000 shares, a drop of 24.9% from the April 15th total of 4,500,000 shares. Based on an average daily volume of 1,470,000 shares, the days-to-cover ratio is presently 2.3 days.

In other news, EVP Brandon John Moore sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $45.04, for a total transaction of $225,200.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Barry F. Schwartz purchased 2,500 shares of the stock in a transaction that occurred on Monday, March 14th. The stock was bought at an average price of $44.77 per share, with a total value of $111,925.00. The disclosure for this purchase can be found here. 5.53% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in GLPI. Vanguard Group Inc. boosted its position in shares of Gaming and Leisure Properties by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 34,218,955 shares of the real estate investment trust’s stock worth $1,605,894,000 after purchasing an additional 1,199,697 shares in the last quarter. BlackRock Inc. raised its stake in Gaming and Leisure Properties by 3.1% in the first quarter. BlackRock Inc. now owns 16,323,748 shares of the real estate investment trust’s stock valued at $766,072,000 after buying an additional 488,130 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Gaming and Leisure Properties by 13.6% in the first quarter. Wellington Management Group LLP now owns 10,515,906 shares of the real estate investment trust’s stock worth $493,511,000 after acquiring an additional 1,255,222 shares in the last quarter. Bamco Inc. NY grew its stake in shares of Gaming and Leisure Properties by 0.7% during the third quarter. Bamco Inc. NY now owns 8,894,012 shares of the real estate investment trust’s stock worth $411,971,000 after acquiring an additional 60,569 shares during the last quarter. Finally, Putnam Investments LLC increased its holdings in shares of Gaming and Leisure Properties by 0.3% during the third quarter. Putnam Investments LLC now owns 8,238,636 shares of the real estate investment trust’s stock valued at $381,614,000 after acquiring an additional 24,387 shares in the last quarter. Institutional investors and hedge funds own 91.36% of the company’s stock.

NASDAQ:GLPI traded up $0.34 during trading hours on Monday, reaching $45.16. The company’s stock had a trading volume of 844,675 shares, compared to its average volume of 1,432,651. The stock has a 50 day moving average price of $45.44 and a two-hundred day moving average price of $45.78. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.65 and a current ratio of 1.65. The company has a market capitalization of $11.18 billion, a P/E ratio of 20.53, a price-to-earnings-growth ratio of 3.25 and a beta of 1.03. Gaming and Leisure Properties has a 12 month low of $41.81 and a 12 month high of $51.46.

Gaming and Leisure Properties (NASDAQ:GLPIGet Rating) last released its quarterly earnings results on Thursday, April 28th. The real estate investment trust reported $0.48 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.37). The company had revenue of $315.00 million during the quarter, compared to the consensus estimate of $303.98 million. Gaming and Leisure Properties had a return on equity of 16.86% and a net margin of 42.79%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 earnings per share. As a group, analysts predict that Gaming and Leisure Properties will post 3.53 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Friday, June 10th will be given a dividend of $0.705 per share. This represents a $2.82 annualized dividend and a dividend yield of 6.24%. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.69. The ex-dividend date is Thursday, June 9th. Gaming and Leisure Properties’s dividend payout ratio is presently 125.45%.

Several equities analysts have commented on the company. Berenberg Bank initiated coverage on Gaming and Leisure Properties in a research report on Thursday, January 20th. They issued a “buy” rating and a $54.00 price objective on the stock. Zacks Investment Research cut shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. Mizuho decreased their price objective on shares of Gaming and Leisure Properties from $56.00 to $47.00 in a report on Thursday, January 20th. StockNews.com raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Wednesday, May 11th. Finally, Morgan Stanley reduced their target price on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $52.55.

Gaming and Leisure Properties Company Profile (Get Rating)

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.

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