Geode Capital Management LLC Buys 161,689 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Geode Capital Management LLC grew its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,080,860 shares of the real estate investment trust’s stock after acquiring an additional 161,689 shares during the period. Geode Capital Management LLC’s holdings in Gaming and Leisure Properties were worth $312,316,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Gaming and Leisure Properties by 647.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,025,526 shares of the real estate investment trust’s stock worth $104,213,000 after purchasing an additional 1,754,370 shares during the period. Jennison Associates LLC grew its position in shares of Gaming and Leisure Properties by 25.3% during the 3rd quarter. Jennison Associates LLC now owns 4,075,461 shares of the real estate investment trust’s stock worth $209,682,000 after buying an additional 821,634 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Gaming and Leisure Properties by 6,162.9% during the third quarter. Janus Henderson Group PLC now owns 812,981 shares of the real estate investment trust’s stock valued at $41,820,000 after buying an additional 800,000 shares during the period. Point72 Asset Management L.P. purchased a new stake in Gaming and Leisure Properties in the third quarter worth about $27,057,000. Finally, Barclays PLC grew its holdings in Gaming and Leisure Properties by 129.1% during the 3rd quarter. Barclays PLC now owns 896,831 shares of the real estate investment trust’s stock worth $46,142,000 after acquiring an additional 505,382 shares in the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $50.39, for a total value of $151,170.00. Following the transaction, the director now directly owns 146,800 shares of the company’s stock, valued at approximately $7,397,252. This trade represents a 2.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.37% of the company’s stock.

Wall Street Analyst Weigh In

GLPI has been the subject of a number of analyst reports. Raymond James upped their price objective on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Stifel Nicolaus raised their price target on shares of Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Wolfe Research raised Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research report on Friday, August 23rd. JPMorgan Chase & Co. raised Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $49.00 to $54.00 in a research report on Friday. Finally, StockNews.com cut Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.96.

Gaming and Leisure Properties Trading Up 1.0 %

GLPI stock opened at $50.09 on Friday. 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. The company’s 50-day simple moving average is $50.49 and its 200-day simple moving average is $49.00. The firm has a market cap of $13.74 billion, a P/E ratio of 17.51, a PEG ratio of 2.10 and a beta of 0.98.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.25). The business had revenue of $385.34 million during the quarter, compared to analyst estimates of $385.09 million. Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 earnings per share. As a group, equities analysts forecast that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 6.07%. The ex-dividend date of this dividend is Friday, December 6th. Gaming and Leisure Properties’s dividend payout ratio is presently 106.29%.

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.