BlackRock Inc. Purchases 354,756 Shares of Gaming and Leisure Properties Inc (GLPI)

BlackRock Inc. grew its position in shares of Gaming and Leisure Properties Inc (NASDAQ:GLPI) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,037,257 shares of the real estate investment trust’s stock after purchasing an additional 354,756 shares during the quarter. BlackRock Inc. owned approximately 7.02% of Gaming and Leisure Properties worth $530,065,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GLPI. American Century Companies Inc. increased its position in shares of Gaming and Leisure Properties by 162.3% during the 3rd quarter. American Century Companies Inc. now owns 2,010,251 shares of the real estate investment trust’s stock valued at $70,861,000 after purchasing an additional 1,243,827 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Gaming and Leisure Properties by 14.9% during the 2nd quarter. Renaissance Technologies LLC now owns 9,056,089 shares of the real estate investment trust’s stock valued at $324,208,000 after purchasing an additional 1,174,600 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its position in shares of Gaming and Leisure Properties by 145.7% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,639,671 shares of the real estate investment trust’s stock valued at $57,799,000 after purchasing an additional 972,400 shares during the last quarter. FMR LLC increased its position in shares of Gaming and Leisure Properties by 20.3% during the 2nd quarter. FMR LLC now owns 5,365,666 shares of the real estate investment trust’s stock valued at $192,091,000 after purchasing an additional 905,752 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Gaming and Leisure Properties by 23.3% during the 2nd quarter. Millennium Management LLC now owns 3,084,735 shares of the real estate investment trust’s stock valued at $110,434,000 after purchasing an additional 582,081 shares during the last quarter. Hedge funds and other institutional investors own 87.09% of the company’s stock.

In related news, Director E Scott Urdang bought 14,000 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The stock was bought at an average cost of $33.72 per share, for a total transaction of $472,080.00. Following the acquisition, the director now directly owns 76,971 shares of the company’s stock, valued at approximately $2,595,462.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 bought at an average price 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 disclosure for this purchase can be found here. Insiders have purchased a total of 26,000 shares of company stock valued at $873,910 over the last 90 days. 5.88% of the stock is currently owned by company insiders.

Shares of GLPI stock opened at $34.72 on Friday. The stock has a market cap of $7.29 billion, a P/E ratio of 11.02, a P/E/G ratio of 1.26 and a beta of 0.76. Gaming and Leisure Properties Inc has a 1-year low of $32.51 and a 1-year high of $37.29. 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 issued its earnings results on Thursday, November 1st. The real estate investment trust reported $0.49 earnings per share 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 analysts’ expectations of $255.55 million. Gaming and Leisure Properties had a net margin of 38.95% and a return on equity of 16.10%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 earnings per share. As a group, equities research analysts expect that Gaming and Leisure Properties Inc will post 3.1 EPS 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. The ex-dividend date of this dividend is Thursday, December 13th. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 7.83%. Gaming and Leisure Properties’s dividend payout ratio is currently 80.00%.

Several equities analysts have recently commented on GLPI shares. Deutsche Bank increased their price objective on Gaming and Leisure Properties from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, September 26th. Zacks Investment Research upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Thursday, October 4th. SunTrust Banks reiterated a “buy” rating and set a $39.00 price objective on shares of Gaming and Leisure Properties in a research report on Tuesday, October 2nd. Jefferies Financial Group reduced their price objective on Gaming and Leisure Properties from $41.00 to $37.00 and set a “hold” rating on the stock in a research report on Friday, November 16th. Finally, ValuEngine upgraded Gaming and Leisure Properties from a “sell” rating to a “hold” rating in a report on Friday, September 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $39.55.

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Gaming and Leisure Properties Company Profile

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

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