Quantbot Technologies LP Takes Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Quantbot Technologies LP purchased a new position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) during the third quarter, HoldingsChannel reports. The firm purchased 21,241 shares of the real estate investment trust’s stock, valued at approximately $1,093,000.

Other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC lifted its stake in shares of Gaming and Leisure Properties by 25.3% in the third quarter. Jennison Associates LLC now owns 4,075,461 shares of the real estate investment trust’s stock worth $209,682,000 after buying an additional 821,634 shares in the last quarter. DigitalBridge Group Inc. bought a new position in Gaming and Leisure Properties in the 2nd quarter valued at approximately $16,936,000. Dimensional Fund Advisors LP boosted its position in shares of Gaming and Leisure Properties by 9.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,104,552 shares of the real estate investment trust’s stock valued at $185,564,000 after buying an additional 350,250 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Gaming and Leisure Properties by 6.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,534,033 shares of the real estate investment trust’s stock worth $284,726,000 after purchasing an additional 341,492 shares during the period. Finally, Bank of Montreal Can grew its holdings in shares of Gaming and Leisure Properties by 205.6% in the third quarter. Bank of Montreal Can now owns 461,086 shares of the real estate investment trust’s stock worth $23,400,000 after acquiring an additional 310,212 shares during the period. 91.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GLPI shares. Wolfe Research upgraded Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research note on Friday, August 23rd. Stifel Nicolaus boosted their price target on shares of Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $52.00 price target (up previously from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Mizuho dropped their target price on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $55.00 target price on shares of Gaming and Leisure Properties in a research note on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.32.

Gaming and Leisure Properties Stock Performance

Shares of Gaming and Leisure Properties stock opened at $51.61 on Friday. The firm’s 50 day moving average is $50.59 and its two-hundred day moving average is $48.65. Gaming and Leisure Properties, Inc. has a 52 week low of $41.80 and a 52 week high of $52.60. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $14.16 billion, a P/E ratio of 18.05, a P/E/G ratio of 2.19 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.25). Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The firm had revenue of $385.34 million during the quarter, compared to analyst estimates of $385.09 million. During the same period in the previous year, the company posted $0.92 earnings per share. Gaming and Leisure Properties’s revenue was up 7.2% compared to the same quarter last year. Research analysts forecast that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date is Friday, December 6th. Gaming and Leisure Properties’s dividend payout ratio is currently 106.29%.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 6,885 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.16, for a total transaction of $345,351.60. Following the completion of the sale, the director now owns 149,800 shares in the company, valued at $7,513,968. This represents a 4.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.37% of the stock is owned by company insiders.

Gaming and Leisure Properties 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.