EverSource Wealth Advisors LLC Grows Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

EverSource Wealth Advisors LLC grew its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPIGet Rating) by 878.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,390 shares of the real estate investment trust’s stock after purchasing an additional 1,248 shares during the period. EverSource Wealth Advisors LLC’s holdings in Gaming and Leisure Properties were worth $65,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. CWM LLC boosted its position in Gaming and Leisure Properties by 76.3% in the 1st quarter. CWM LLC now owns 663 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 287 shares in the last quarter. Morse Asset Management Inc raised its stake in shares of Gaming and Leisure Properties by 6.0% during the 1st quarter. Morse Asset Management Inc now owns 5,300 shares of the real estate investment trust’s stock worth $249,000 after buying an additional 300 shares during the period. Pictet Asset Management SA raised its stake in shares of Gaming and Leisure Properties by 0.4% during the 4th quarter. Pictet Asset Management SA now owns 85,271 shares of the real estate investment trust’s stock worth $4,149,000 after buying an additional 321 shares during the period. First Republic Investment Management Inc. raised its stake in shares of Gaming and Leisure Properties by 1.8% during the 1st quarter. First Republic Investment Management Inc. now owns 18,616 shares of the real estate investment trust’s stock worth $874,000 after buying an additional 334 shares during the period. Finally, FCF Advisors LLC raised its stake in shares of Gaming and Leisure Properties by 2.6% during the 1st quarter. FCF Advisors LLC now owns 13,780 shares of the real estate investment trust’s stock worth $647,000 after buying an additional 355 shares during the period. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Mizuho upped their target price on Gaming and Leisure Properties from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, June 30th. Citigroup upped their target price on Gaming and Leisure Properties to $59.00 in a research note on Monday, August 22nd. UBS Group reduced their price objective on Gaming and Leisure Properties to $55.00 in a research note on Thursday, June 9th. Deutsche Bank Aktiengesellschaft increased their price objective on Gaming and Leisure Properties from $57.00 to $62.00 in a research note on Monday, August 1st. Finally, Raymond James increased their price objective on Gaming and Leisure Properties from $54.00 to $56.00 and gave the company a “strong-buy” rating in a research note on Friday, July 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and a consensus price target of $55.50.

Gaming and Leisure Properties Stock Up 2.1 %

Shares of NASDAQ:GLPI opened at $48.69 on Friday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.91. The business has a fifty day moving average of $50.30 and a two-hundred day moving average of $47.29. The stock has a market cap of $12.44 billion, a P/E ratio of 21.93, a PEG ratio of 2.81 and a beta of 1.01. Gaming and Leisure Properties, Inc. has a 52-week low of $41.81 and a 52-week high of $52.87.

Gaming and Leisure Properties (NASDAQ:GLPIGet Rating) last issued its earnings results on Thursday, July 28th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.27). The company had revenue of $326.40 million during the quarter, compared to analysts’ expectations of $325.40 million. Gaming and Leisure Properties had a net margin of 43.54% and a return on equity of 16.30%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.87 earnings per share. On average, research analysts expect that Gaming and Leisure Properties, Inc. will post 3.47 earnings per share for the current year.

Gaming and Leisure Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a $0.705 dividend. This represents a $2.82 annualized dividend and a yield of 5.79%. The ex-dividend date of this dividend is Thursday, September 15th. Gaming and Leisure Properties’s payout ratio is currently 127.03%.

Insider Transactions at Gaming and Leisure Properties

In other news, EVP Brandon John Moore sold 3,000 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $52.00, for a total transaction of $156,000.00. Following the completion of the transaction, the executive vice president now directly owns 185,993 shares in the company, valued at approximately $9,671,636. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.60% of the company’s stock.

Gaming and Leisure Properties Profile

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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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