Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Purchased by Gallacher Capital Management LLC

Gallacher Capital Management LLC boosted its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 10.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 14,980 shares of the real estate investment trust’s stock after purchasing an additional 1,475 shares during the period. Gallacher Capital Management LLC’s holdings in Gaming and Leisure Properties were worth $739,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in GLPI. Headlands Technologies LLC acquired a new position in Gaming and Leisure Properties in the 4th quarter valued at about $30,000. Operose Advisors LLC acquired a new position in Gaming and Leisure Properties in the 3rd quarter valued at about $32,000. GAMMA Investing LLC acquired a new position in Gaming and Leisure Properties in the 4th quarter valued at about $51,000. Armstrong Advisory Group Inc. increased its position in Gaming and Leisure Properties by 166.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 1,203 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 751 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in Gaming and Leisure Properties in the 3rd quarter valued at about $79,000. Institutional investors and hedge funds own 91.14% of the company’s stock.

Gaming and Leisure Properties Price Performance

Shares of GLPI stock traded down $0.30 during mid-day trading on Friday, reaching $43.20. The stock had a trading volume of 1,088,408 shares, compared to its average volume of 1,333,385. Gaming and Leisure Properties, Inc. has a 12-month low of $41.80 and a 12-month high of $51.43. The company has a market cap of $11.73 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 5.08 and a beta of 0.95. The business has a 50-day simple moving average of $44.60 and a 200 day simple moving average of $45.74. The company has a current ratio of 6.47, a quick ratio of 6.47 and a debt-to-equity ratio of 1.49.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). Gaming and Leisure Properties had a net margin of 50.05% and a return on equity of 16.79%. The firm had revenue of $376.00 million during the quarter, compared to analysts’ expectations of $368.44 million. During the same quarter in the prior year, the business earned $0.92 EPS. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.66 earnings per share for the current year.

Gaming and Leisure Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.76 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 7.04%. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 112.18%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GLPI shares. Mizuho dropped their price target on Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. StockNews.com cut Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Wednesday. Royal Bank of Canada dropped their price objective on Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Morgan Stanley cut their price objective on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, March 21st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $53.00 price objective on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.91.

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average price of $45.00 per share, with a total value of $112,500.00. Following the completion of the purchase, the director now directly owns 156,685 shares in the company, valued at $7,050,825. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 4.40% of the company’s stock.

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.