Zurcher Kantonalbank Zurich Cantonalbank has increased its equity stake in Gaming and Leisure Properties, Inc. (NASDAQ: GLPI – Get a rating) by 9.3% in the fourth quarter, according to the company in its latest filing with the Securities and Exchange Commission (SEC). The company held 83,155 shares of the real estate investment trust after purchasing an additional 7,084 shares during the period. Zurcher Kantonalbank’s holdings of Zurich Cantonalbank gambling and leisure properties were worth $4,046,000 when it was last filed with the SEC.
A number of other large investors also changed their stakes in GLPI. CI Investments Inc. increased its position in amusement and leisure property stocks by 5.0% in the third quarter. CI Investments Inc. now owns 4,499 shares of the real estate investment trust worth $208,000 after acquiring 216 additional shares in the last quarter. National Bank Huntington increased its holdings in gaming and leisure properties by 28.0% in the fourth quarter. National Bank Huntington now owns 1,078 shares of the real estate investment trust valued at $52,000 after buying 236 additional shares during the period. EP Wealth Advisors LLC increased its holdings in gaming and leisure properties by 0.7% in the third quarter. EP Wealth Advisors LLC now owns 41,872 shares of the REIT valued at $1,940,000 after purchasing an additional 296 shares during the period. AdvisorShares Investments LLC increased its holdings in gaming and leisure properties by 1.8% in the fourth quarter. AdvisorShares Investments LLC now owns 21,038 shares of the real estate investment trust worth $1,024,000 after purchasing 363 additional shares during the period. Finally, First Republic Investment Management Inc. increased its holdings in gaming and leisure properties by 2.0% in the third quarter. First Republic Investment Management Inc. now owns 19,044 shares of the real estate investment trust worth $882,000 after purchasing 371 additional shares during the period. Hedge funds and other institutional investors own 87.82% of the company’s shares.
In other news, manager Barry F. Schwartz bought 2,500 shares of gaming and leisure properties in a trade dated Monday, March 14. The stock was purchased at an average price of $44.77 per share, with a total value of $111,925.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. Also, VPE Brandon John Moore sold 5,000 shares of the company in a trade on Monday, March 28. The shares were sold at an average price of $45.04, for a total transaction of $225,200.00. Disclosure of this sale can be found here. Insiders hold 5.53% of the shares of the company.
Several research analysts have recently commented on GLPI’s actions. Zacks Investment Research upgraded games and leisure properties stocks from a “sell” rating to a “hold” rating in a Monday, March 7 report. Mizuho cut its price target on gaming and leisure properties shares from $56.00 to $47.00 in a Thursday, January 20 report. Berenberg Bank assumed coverage for gaming and leisure property stocks in a Thursday, Jan. 20, research note. They have set a “buy” rating and a price target of $54.00 on the stock. Scotiabank downgraded gaming and leisure property stocks from an “outperforming the sector” rating to an “performing the sector” rating in a Wednesday, Dec. 15 research note. To finish, StockNews.com upgraded gaming and leisure property stocks from a “hold” rating to a “buy” rating in a research note on Saturday. One analyst has assigned the stock a sell rating, three have issued a hold rating, ten have issued a buy rating and one has assigned the company a strong buy rating. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $52.43.
Shares of NASDAQ: GLPI opened at $46.32 on Monday. The company has a current ratio of 5.10, a quick ratio of 5.10 and a debt ratio of 1.95. The company has a fifty-day simple moving average of $45.08 and a 200-day simple moving average of $46.29. The company has a market capitalization of $11.04 billion, a PE ratio of 20.50, a growth price-earnings ratio of 9.52 and a beta of 1.05. Gaming and Leisure Properties, Inc. has a 12-month low of $41.81 and a 12-month high of $51.46.
Game and leisure properties (NASDAQ: GLPI – Get a rating) last released its quarterly earnings data on Wednesday, February 23. The real estate investment trust reported EPS of $0.50 for the quarter, missing analyst consensus estimates of $0.86 per ($0.36). The company posted revenue of $298.34 million in the quarter, versus analyst estimates of $295.10 million. Gaming and leisure properties had a return on equity of 18.33% and a net margin of 43.91%. The company’s revenue for the quarter was down 0.6% from the same quarter last year. During the same period of the previous year, the company achieved EPS of $0.85. As a group, equity research analysts expect Gaming and Leisure Properties, Inc. to post EPS of 3.55 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 25. Shareholders of record on Friday, March 11 received a dividend of $0.69. This represents a dividend of $2.76 on an annualized basis and a yield of 5.96%. The ex-dividend date was Thursday, March 10. This is an increase from Gaming and Leisure Properties’ previous quarterly dividend of $0.67. The distribution rate for gaming and leisure properties is currently 122.12%.
Gaming and Leisure Property Profile (Get a rating)
GLPI is engaged in acquiring, financing and owning real estate for lease to gaming operators under triple net lease agreements, under which the tenant is responsible for all maintenance of the facilities, insurance required in connection with the Leased Properties and the activities carried out on the Leased Properties, taxes levied on or in connection with the Leased Properties and all utilities and other services necessary or appropriate for the Leased Properties and the activities carried out on the rented properties.
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