OLD National Bancorp IN Buys Shares of 4,012 Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

OLD National Bancorp IN bought a new stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPIFree Report) in the first quarter, Holdings Channel reports. The fund bought 4,012 shares of the real estate investment trust’s stock, valued at approximately $204,000.

Other hedge funds have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new position in Gaming and Leisure Properties during the 4th quarter valued at about $31,000. Quarry LP grew its holdings in Gaming and Leisure Properties by 52.5% during the 4th quarter. Quarry LP now owns 979 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 337 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Gaming and Leisure Properties by 149.8% during the fourth quarter. Bessemer Group Inc. now owns 1,029 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 617 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of Gaming and Leisure Properties during the fourth quarter worth about $52,000. Finally, Parvin Asset Management LLC purchased a new position in shares of Gaming and Leisure Properties during the fourth quarter worth about $53,000. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Performance

Shares of GLPI stock opened at $47.75 on Wednesday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. Gaming and Leisure Properties, Inc. has a fifty-two week low of $43.02 and a fifty-two week high of $52.60. The stock has a 50 day moving average price of $47.22 and a two-hundred day moving average price of $48.53. The company has a market capitalization of $13.12 billion, a P/E ratio of 16.64, a PEG ratio of 2.01 and a beta of 0.72.

Gaming and Leisure Properties (NASDAQ:GLPIGet Free Report) last announced its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. The firm had revenue of $395.24 million during the quarter, compared to the consensus estimate of $396.27 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. Analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current year.

Gaming and Leisure Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.78 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.12 annualized dividend and a yield of 6.53%. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.76. Gaming and Leisure Properties’s payout ratio is presently 111.03%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Macquarie reissued an “outperform” rating and set a $60.00 price objective on shares of Gaming and Leisure Properties in a report on Friday, April 25th. Royal Bank of Canada cut their price objective on Gaming and Leisure Properties from $56.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Wedbush set a $55.00 price objective on Gaming and Leisure Properties in a report on Monday, April 28th. Scotiabank cut their price objective on Gaming and Leisure Properties from $49.00 to $48.00 and set a “sector perform” rating for the company in a report on Monday, May 12th. Finally, Mizuho boosted their price objective on Gaming and Leisure Properties from $51.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.50.

Read Our Latest Research Report on Gaming and Leisure Properties

Gaming and Leisure Properties Company Profile

(Free Report)

Gaming & Leisure Properties, Inc engages in the provision of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.

See Also

Want to see what other hedge funds are holding GLPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gaming and Leisure Properties, Inc. (NASDAQ:GLPIFree Report).

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

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