Russell Investments Group Ltd. Increases Stock Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Russell Investments Group Ltd. raised its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 4.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 243,281 shares of the real estate investment trust’s stock after buying an additional 10,039 shares during the quarter. Russell Investments Group Ltd.’s holdings in Gaming and Leisure Properties were worth $12,006,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in shares of Gaming and Leisure Properties by 78.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,906,793 shares of the real estate investment trust’s stock valued at $132,404,000 after purchasing an additional 1,278,566 shares during the last quarter. Jennison Associates LLC boosted its holdings in Gaming and Leisure Properties by 54.8% in the fourth quarter. Jennison Associates LLC now owns 3,378,874 shares of the real estate investment trust’s stock valued at $166,747,000 after acquiring an additional 1,195,765 shares during the last quarter. Principal Financial Group Inc. grew its position in Gaming and Leisure Properties by 15.7% during the third quarter. Principal Financial Group Inc. now owns 8,771,108 shares of the real estate investment trust’s stock valued at $399,523,000 after acquiring an additional 1,188,397 shares during the period. Invesco Ltd. raised its holdings in shares of Gaming and Leisure Properties by 54.6% in the 3rd quarter. Invesco Ltd. now owns 3,301,293 shares of the real estate investment trust’s stock worth $150,374,000 after purchasing an additional 1,165,459 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Gaming and Leisure Properties by 30.2% in the 3rd quarter. Northern Trust Corp now owns 2,397,529 shares of the real estate investment trust’s stock valued at $109,207,000 after purchasing an additional 555,474 shares in the last quarter. Institutional investors and hedge funds own 91.14% of the company’s stock.

Gaming and Leisure Properties Price Performance

GLPI stock opened at $43.20 on Friday. The stock’s 50 day moving average is $44.60 and its two-hundred day moving average is $45.75. Gaming and Leisure Properties, Inc. has a 52-week low of $41.80 and a 52-week high of $51.43. The company has a market capitalization of $11.73 billion, a PE ratio of 15.94, a P/E/G ratio of 5.12 and a beta of 0.95. The company has a quick ratio of 6.47, a current ratio of 6.47 and a debt-to-equity ratio of 1.49.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. The company had revenue of $376.00 million during the quarter, compared to the consensus estimate of $368.44 million. During the same quarter last year, the firm posted $0.92 EPS. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. Analysts predict that Gaming and Leisure Properties, Inc. will post 3.66 earnings per share for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 7.04%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. Gaming and Leisure Properties’s dividend payout ratio is 112.18%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. StockNews.com downgraded shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley cut 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 note on Thursday, March 21st. Royal Bank of Canada decreased their price target on shares of Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. JMP Securities reissued a “market outperform” rating and issued a $53.00 price objective on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. Finally, Mizuho decreased their target price on Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, March 7th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Gaming and Leisure Properties has an average rating of “Moderate Buy” and an average price target of $51.91.

Insider Transactions at Gaming and Leisure Properties

In other news, Director E Scott Urdang acquired 2,500 shares of the business’s stock in a transaction on Friday, March 1st. The shares were purchased at an average price of $45.00 per share, for a total transaction of $112,500.00. Following the completion of the purchase, the director now directly owns 156,685 shares of the company’s stock, valued at approximately $7,050,825. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.40% of the company’s stock.

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.