Vestcor Inc Raises Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Vestcor Inc raised its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 989.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,419 shares of the real estate investment trust’s stock after buying an additional 78,484 shares during the quarter. Vestcor Inc’s holdings in Gaming and Leisure Properties were worth $4,446,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Assetmark Inc. grew its holdings in shares of Gaming and Leisure Properties by 2,547.6% during the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 535 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Gaming and Leisure Properties by 142.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 384 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Gaming and Leisure Properties during the 2nd quarter worth $31,000. EverSource Wealth Advisors LLC grew its holdings in shares of Gaming and Leisure Properties by 578.4% during 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 during the period. Finally, EdgeRock Capital LLC purchased a new position in shares of Gaming and Leisure Properties during the 2nd quarter worth $33,000. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Trading Down 0.7 %

NASDAQ:GLPI opened at $49.74 on Wednesday. The stock’s 50 day moving average price is $50.57 and its 200 day moving average price is $48.95. The company has a market capitalization of $13.65 billion, a PE ratio of 17.39, a P/E/G ratio of 2.14 and a beta of 0.98. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. 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 released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The firm had revenue of $385.34 million for the quarter, compared to analysts’ expectations of $385.09 million. During the same quarter in the prior year, the business earned $0.92 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, research analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.04 annualized dividend and a dividend yield of 6.11%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 106.29%.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 6,885 shares of Gaming and Leisure Properties stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.16, for a total value of $345,351.60. Following the transaction, the director now directly owns 149,800 shares in the company, valued at approximately $7,513,968. This trade represents a 4.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company reiterated an “equal weight” rating and set a $52.00 price target (up from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Wolfe Research upgraded Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price target for the company in a report on Friday, August 23rd. JMP Securities reissued a “market outperform” rating and set a $55.00 target price on shares of Gaming and Leisure Properties in a research note on Tuesday, October 29th. Mizuho decreased their target price on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and increased their target price for the stock from $49.00 to $54.00 in a research note on Wednesday, November 20th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.50.

Gaming and Leisure Properties Company 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.