Alliancebernstein L.P. raised its holdings in Gaming and Leisure Properties Inc (NASDAQ:GLPI) by 19.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 427,650 shares of the real estate investment trust’s stock after buying an additional 70,940 shares during the quarter. Alliancebernstein L.P. owned about 0.20% of Gaming and Leisure Properties worth $15,075,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Qube Research & Technologies Ltd purchased a new stake in Gaming and Leisure Properties in the second quarter valued at about $273,000. Hilltop Holdings Inc. raised its stake in Gaming and Leisure Properties by 28.8% in the second quarter. Hilltop Holdings Inc. now owns 8,073 shares of the real estate investment trust’s stock valued at $289,000 after buying an additional 1,803 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Gaming and Leisure Properties by 29.0% in the second quarter. Commonwealth Equity Services LLC now owns 8,099 shares of the real estate investment trust’s stock worth $290,000 after purchasing an additional 1,821 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Gaming and Leisure Properties by 31.7% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 8,720 shares of the real estate investment trust’s stock worth $312,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Signition LP purchased a new position in shares of Gaming and Leisure Properties in the second quarter worth about $323,000. Institutional investors own 87.09% of the company’s stock.

Several brokerages have recently issued reports on GLPI. BidaskClub upgraded Gaming and Leisure Properties from a “strong sell” rating to a “sell” rating in a research note on Wednesday, November 21st. Barclays raised their price objective on Gaming and Leisure Properties from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, November 19th. Jefferies Financial Group reduced their price objective on Gaming and Leisure Properties from $41.00 to $37.00 and set a “hold” rating for the company in a research note on Friday, November 16th. Zacks Investment Research upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Thursday, October 4th. Finally, SunTrust Banks restated a “buy” rating and issued a $39.00 price objective on shares of Gaming and Leisure Properties in a research note on Tuesday, October 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $39.55.

In related news, Director Joseph W. Marshall III bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The shares were purchased at an average cost of $33.33 per share, with a total value of $33,330.00. Following the completion of the acquisition, the director now directly owns 27,081 shares in the company, valued at $902,609.73. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Handler bought 11,000 shares of the company’s stock in a transaction that occurred on Friday, November 9th. The shares were bought at an average cost of $33.50 per share, for a total transaction of $368,500.00. Following the completion of the acquisition, the director now owns 323,461 shares of the company’s stock, valued at $10,835,943.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 26,000 shares of company stock worth $873,910. 5.88% of the stock is owned by corporate insiders.

Shares of NASDAQ:GLPI opened at $34.05 on Thursday. Gaming and Leisure Properties Inc has a 52-week low of $32.51 and a 52-week high of $37.29. The stock has a market capitalization of $7.37 billion, a PE ratio of 10.81, a PEG ratio of 1.28 and a beta of 0.76. The company has a debt-to-equity ratio of 2.31, a current ratio of 10.00 and a quick ratio of 10.00.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Thursday, November 1st. The real estate investment trust reported $0.49 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.26). The company had revenue of $254.14 million for the quarter, compared to analyst estimates of $255.55 million. Gaming and Leisure Properties had a return on equity of 16.10% and a net margin of 38.95%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the business earned $0.45 earnings per share. As a group, equities analysts predict that Gaming and Leisure Properties Inc will post 3.1 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 7.99%. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.63. The ex-dividend date is Thursday, December 13th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 80.00%.

COPYRIGHT VIOLATION NOTICE: This report was first published by Watch List News and is the property of of Watch List News. If you are accessing this report on another site, it was illegally copied and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be read at https://www.watchlistnews.com/gaming-and-leisure-properties-inc-glpi-shares-bought-by-alliancebernstein-l-p/2663691.html.

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.

See Also: Trading Penny Stocks

Institutional Ownership by Quarter for Gaming and Leisure Properties (NASDAQ:GLPI)

Receive News & Ratings for Gaming and Leisure Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gaming and Leisure Properties and related companies with MarketBeat.com's FREE daily email newsletter.