CoreCap Advisors LLC acquired a new stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Get Rating) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,762 shares of the real estate investment trust’s stock, valued at approximately $81,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. raised its position in shares of Gaming and Leisure Properties by 4.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 5,150 shares of the real estate investment trust’s stock worth $241,000 after acquiring an additional 200 shares in the last quarter. Morse Asset Management Inc raised its position in shares of Gaming and Leisure Properties by 6.0% during the 1st quarter. Morse Asset Management Inc now owns 5,300 shares of the real estate investment trust’s stock worth $249,000 after acquiring an additional 300 shares in the last quarter. Allworth Financial LP raised its position in shares of Gaming and Leisure Properties by 2.8% during the 2nd quarter. Allworth Financial LP now owns 11,148 shares of the real estate investment trust’s stock worth $511,000 after acquiring an additional 308 shares in the last quarter. First Republic Investment Management Inc. raised its position in shares of Gaming and Leisure Properties by 1.8% during the 1st quarter. First Republic Investment Management Inc. now owns 18,616 shares of the real estate investment trust’s stock worth $874,000 after acquiring an additional 334 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware raised its position in shares of Gaming and Leisure Properties by 1.2% during the 2nd quarter. Mckinley Capital Management LLC Delaware now owns 32,537 shares of the real estate investment trust’s stock worth $1,492,000 after acquiring an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.
Gaming and Leisure Properties Trading Up 0.1 %
NASDAQ:GLPI opened at $51.27 on Friday. The firm has a market cap of $13.10 billion, a P/E ratio of 21.01, a PEG ratio of 10.43 and a beta of 1.02. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.57. The stock’s 50 day simple moving average is $48.04 and its 200-day simple moving average is $48.12. Gaming and Leisure Properties, Inc. has a 12-month low of $41.81 and a 12-month high of $52.87.
Gaming and Leisure Properties Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 23rd. Stockholders of record on Friday, December 9th will be issued a $0.705 dividend. This represents a $2.82 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date of this dividend is Thursday, December 8th. Gaming and Leisure Properties’s payout ratio is currently 115.57%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their target price on Gaming and Leisure Properties from $57.00 to $62.00 in a research report on Monday, August 1st. JMP Securities started coverage on Gaming and Leisure Properties in a research report on Friday, September 23rd. They set an “outperform” rating and a $53.00 price target on the stock. Raymond James cut their price target on Gaming and Leisure Properties from $56.00 to $53.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, October 4th. Royal Bank of Canada started coverage on Gaming and Leisure Properties in a research report on Monday, September 19th. They set an “outperform” rating and a $54.00 price target on the stock. Finally, Citigroup lifted their price target on Gaming and Leisure Properties to $59.00 in a research report on Monday, August 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Gaming and Leisure Properties has an average rating of “Moderate Buy” and an average target price of $54.80.
Gaming and Leisure Properties 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.
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