Sound Income Strategies LLC raised its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Free Report) by 10.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 165,752 shares of the real estate investment trust’s stock after purchasing an additional 15,965 shares during the period. Sound Income Strategies LLC owned 0.06% of Gaming and Leisure Properties worth $8,032,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of GLPI. Atlas Capital Advisors LLC increased its position in shares of Gaming and Leisure Properties by 203.0% in the 1st quarter. Atlas Capital Advisors LLC now owns 512 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 343 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of Gaming and Leisure Properties in the 1st quarter valued at $39,000. HBC Financial Services PLLC acquired a new position in shares of Gaming and Leisure Properties in the 1st quarter valued at $41,000. Zions Bancorporation N.A. acquired a new position in shares of Gaming and Leisure Properties in the 1st quarter valued at $43,000. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Gaming and Leisure Properties by 118.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,056 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 573 shares in the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.
Gaming and Leisure Properties Stock Performance
Gaming and Leisure Properties stock traded down $0.34 during trading hours on Friday, reaching $48.16. 2,067,096 shares of the stock were exchanged, compared to its average volume of 1,185,387. The stock has a market cap of $12.65 billion, a P/E ratio of 16.78, a P/E/G ratio of 4.32 and a beta of 0.98. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.11 and a current ratio of 0.11. Gaming and Leisure Properties, Inc. has a 52-week low of $43.46 and a 52-week high of $55.13. The firm’s 50 day moving average is $47.80 and its 200 day moving average is $49.38.
Gaming and Leisure Properties Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.73 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.92 dividend on an annualized basis and a yield of 6.06%. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.72. Gaming and Leisure Properties’s dividend payout ratio is presently 99.65%.
Insiders Place Their Bets
In related news, Director Barry F. Schwartz purchased 1,000 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was acquired at an average price of $47.74 per share, for a total transaction of $47,740.00. Following the acquisition, the director now directly owns 53,823 shares of the company’s stock, valued at approximately $2,569,510.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Gaming and Leisure Properties news, Director Barry F. Schwartz bought 1,500 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was purchased at an average cost of $45.83 per share, for a total transaction of $68,745.00. Following the acquisition, the director now owns 55,323 shares of the company’s stock, valued at approximately $2,535,453.09. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barry F. Schwartz bought 1,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were acquired at an average price of $47.74 per share, with a total value of $47,740.00. Following the completion of the acquisition, the director now directly owns 53,823 shares in the company, valued at approximately $2,569,510.02. The disclosure for this purchase can be found here. In the last quarter, insiders bought 3,500 shares of company stock worth $163,835. 4.40% of the stock is owned by insiders.
Wall Street Analyst Weigh In
GLPI has been the subject of several research analyst reports. JMP Securities restated a “market outperform” rating and issued a $57.00 target price on shares of Gaming and Leisure Properties in a report on Thursday, August 31st. UBS Group upped their target price on shares of Gaming and Leisure Properties from $55.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, August 29th. StockNews.com initiated coverage on shares of Gaming and Leisure Properties in a report on Thursday, August 17th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft cut shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating and lowered their target price for the company from $60.00 to $52.00 in a report on Wednesday, July 5th. Finally, BNP Paribas assumed coverage on shares of Gaming and Leisure Properties in a research note on Wednesday, June 14th. They set an “outperform” rating and a $63.00 price target for the company. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and a consensus price target of $55.80.
Check Out Our Latest Analysis on Gaming and Leisure Properties
About Gaming and Leisure Properties
(Free Report)
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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