AlphaQuest LLC Acquires 36,566 Shares of Gaming and Leisure Properties, Inc. $GLPI

AlphaQuest LLC raised its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 95.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,986 shares of the real estate investment trust’s stock after acquiring an additional 36,566 shares during the period. AlphaQuest LLC’s holdings in Gaming and Leisure Properties were worth $3,495,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Dodge & Cox raised its stake in Gaming and Leisure Properties by 0.8% in the second quarter. Dodge & Cox now owns 13,618,357 shares of the real estate investment trust’s stock valued at $635,705,000 after purchasing an additional 108,748 shares in the last quarter. Geode Capital Management LLC grew its stake in Gaming and Leisure Properties by 7.5% in the 2nd quarter. Geode Capital Management LLC now owns 6,948,979 shares of the real estate investment trust’s stock worth $323,683,000 after buying an additional 483,174 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Gaming and Leisure Properties by 3.2% in the 2nd quarter. Invesco Ltd. now owns 4,657,406 shares of the real estate investment trust’s stock worth $217,408,000 after buying an additional 145,172 shares during the last quarter. Jennison Associates LLC raised its position in shares of Gaming and Leisure Properties by 8.1% during the 2nd quarter. Jennison Associates LLC now owns 4,599,033 shares of the real estate investment trust’s stock valued at $214,683,000 after buying an additional 346,462 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Gaming and Leisure Properties during the 2nd quarter worth $175,169,000. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Price Performance

Shares of Gaming and Leisure Properties stock opened at $45.36 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 13.23 and a quick ratio of 13.23. Gaming and Leisure Properties, Inc. has a one year low of $41.17 and a one year high of $52.24. The business’s 50 day simple moving average is $44.33 and its two-hundred day simple moving average is $45.53. The stock has a market capitalization of $12.84 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 2.48 and a beta of 0.67.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Thursday, October 30th. The real estate investment trust reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. Gaming and Leisure Properties had a net margin of 49.54% and a return on equity of 16.34%. The firm had revenue of $397.61 million for the quarter, compared to analysts’ expectations of $399.66 million. During the same quarter last year, the business earned $0.95 earnings per share. The business’s revenue was up 3.2% on a year-over-year basis. Analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a $0.78 dividend. The ex-dividend date was Friday, December 5th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.9%. Gaming and Leisure Properties’s payout ratio is presently 113.04%.

Analyst Ratings Changes

Several brokerages recently issued reports on GLPI. JPMorgan Chase & Co. upgraded shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $52.00 to $53.00 in a research report on Friday, December 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Gaming and Leisure Properties in a report on Thursday, January 22nd. Cantor Fitzgerald reduced their price objective on Gaming and Leisure Properties from $51.00 to $49.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Barclays decreased their price objective on Gaming and Leisure Properties from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Wednesday, December 3rd. Finally, Stifel Nicolaus set a $47.75 target price on Gaming and Leisure Properties in a research note on Monday, December 15th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Gaming and Leisure Properties has an average rating of “Moderate Buy” and an average target price of $51.89.

Insider Transactions at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 4,000 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $45.49, for a total transaction of $181,960.00. Following the transaction, the director owned 129,953 shares in the company, valued at $5,911,561.97. The trade was a 2.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Steven Ladany sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $44.77, for a total value of $805,860.00. Following the transaction, the senior vice president directly owned 65,099 shares of the company’s stock, valued at $2,914,482.23. The trade was a 21.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 40,864 shares of company stock worth $1,832,866 in the last 90 days. Corporate insiders own 4.26% of the company’s stock.

Gaming and Leisure Properties Profile

Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.

The company’s core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.