Allstate Corp Purchases 26,092 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Allstate Corp boosted its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPIGet Rating) by 32.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 106,974 shares of the real estate investment trust’s stock after acquiring an additional 26,092 shares during the period. Allstate Corp’s holdings in Gaming and Leisure Properties were worth $5,020,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 1,199,697 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Gaming and Leisure Properties by 3.1% during the 1st quarter. BlackRock Inc. now owns 16,323,748 shares of the real estate investment trust’s stock valued at $766,072,000 after purchasing an additional 488,130 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Gaming and Leisure Properties by 13.6% during the 1st quarter. Wellington Management Group LLP now owns 10,515,906 shares of the real estate investment trust’s stock valued at $493,511,000 after purchasing an additional 1,255,222 shares in the last quarter. State Street Corp boosted its stake in shares of Gaming and Leisure Properties by 9.6% during the 1st quarter. State Street Corp now owns 7,428,567 shares of the real estate investment trust’s stock valued at $348,623,000 after purchasing an additional 650,651 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Gaming and Leisure Properties by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 3,934,755 shares of the real estate investment trust’s stock valued at $191,462,000 after purchasing an additional 93,607 shares in the last quarter. Institutional investors own 88.45% of the company’s stock.

Insider Transactions at Gaming and Leisure Properties

In other news, EVP Brandon John Moore sold 3,000 shares of Gaming and Leisure Properties stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $52.00, for a total value of $156,000.00. Following the completion of the sale, the executive vice president now directly owns 185,993 shares in the company, valued at $9,671,636. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GLPI. StockNews.com cut shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. Citigroup lifted their price target on shares of Gaming and Leisure Properties to $59.00 in a research report on Monday, August 22nd. Morgan Stanley lifted their price target on shares of Gaming and Leisure Properties from $53.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, July 20th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Gaming and Leisure Properties from $57.00 to $62.00 in a research report on Monday, August 1st. Finally, UBS Group lowered their price target on shares of Gaming and Leisure Properties to $55.00 in a research report on Thursday, June 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $55.50.

Gaming and Leisure Properties Stock Up 1.2 %

Shares of Gaming and Leisure Properties stock opened at $49.98 on Monday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.07 and a current ratio of 0.07. The stock has a market capitalization of $12.77 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 2.94 and a beta of 1.01. Gaming and Leisure Properties, Inc. has a 52-week low of $41.81 and a 52-week high of $52.87. The company has a 50-day simple moving average of $50.11 and a two-hundred day simple moving average of $47.18.

Gaming and Leisure Properties (NASDAQ:GLPIGet Rating) last issued its earnings results on Thursday, July 28th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.27). Gaming and Leisure Properties had a return on equity of 16.30% and a net margin of 43.54%. The firm had revenue of $326.40 million during the quarter, compared to analysts’ expectations of $325.40 million. During the same period last year, the firm posted $0.87 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.47 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be paid a $0.705 dividend. The ex-dividend date is Thursday, September 15th. This represents a $2.82 dividend on an annualized basis and a dividend yield of 5.64%. Gaming and Leisure Properties’s dividend payout ratio is presently 127.03%.

Gaming and Leisure Properties Company Profile

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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.

See Also

Institutional Ownership by Quarter for Gaming and Leisure Properties (NASDAQ:GLPI)

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