CoreCap Advisors LLC bought a new stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Get Rating) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,762 shares of the real estate investment trust’s stock, valued at approximately $81,000.
Several other institutional investors have also recently added to or reduced their stakes in GLPI. Comerica Bank increased its stake in Gaming and Leisure Properties by 11.6% in the first quarter. Comerica Bank now owns 8,768 shares of the real estate investment trust’s stock valued at $420,000 after purchasing an additional 910 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in Gaming and Leisure Properties in the first quarter valued at $301,000. Mutual of America Capital Management LLC increased its stake in Gaming and Leisure Properties by 3.3% in the first quarter. Mutual of America Capital Management LLC now owns 26,256 shares of the real estate investment trust’s stock valued at $1,232,000 after purchasing an additional 846 shares during the last quarter. National Asset Management Inc. increased its stake in Gaming and Leisure Properties by 16.8% in the first quarter. National Asset Management Inc. now owns 7,520 shares of the real estate investment trust’s stock valued at $354,000 after purchasing an additional 1,081 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in Gaming and Leisure Properties by 2.2% in the first quarter. Arizona State Retirement System now owns 61,208 shares of the real estate investment trust’s stock valued at $2,872,000 after purchasing an additional 1,300 shares during the last quarter. 88.45% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have commented on GLPI shares. Royal Bank of Canada started coverage on Gaming and Leisure Properties in a research note on Monday, September 19th. They set an “outperform” rating and a $54.00 price target for the company. StockNews.com lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, November 8th. Citigroup upped their price target on Gaming and Leisure Properties to $59.00 in a research note on Monday, August 22nd. Raymond James dropped their price target on Gaming and Leisure Properties from $56.00 to $53.00 and set a “strong-buy” rating for the company in a research note on Tuesday, October 4th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Gaming and Leisure Properties from $57.00 to $62.00 in a research note on Monday, August 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.80.
Gaming and Leisure Properties Price Performance
Shares of NASDAQ GLPI opened at $51.27 on Friday. Gaming and Leisure Properties, Inc. has a 1-year low of $41.81 and a 1-year high of $52.87. The business has a 50-day moving average of $48.04 and a 200-day moving average of $48.12. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market capitalization of $13.10 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 10.43 and a beta of 1.02.
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 given a $0.705 dividend. This represents a $2.82 annualized dividend 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 115.57%.
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.
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