Cambria Investment Management L.P. Buys New Shares in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Cambria Investment Management L.P. purchased a new stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 5,187 shares of the real estate investment trust’s stock, valued at approximately $251,000.

Other institutional investors have also added to or reduced their stakes in the company. Impact Partnership Wealth LLC purchased a new stake in Gaming and Leisure Properties during the 2nd quarter valued at $27,000. Atlas Capital Advisors LLC lifted its position in shares of Gaming and Leisure Properties by 203.0% in the 1st quarter. Atlas Capital Advisors LLC now owns 512 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 343 shares during the period. Salem Investment Counselors Inc. purchased a new stake in shares of Gaming and Leisure Properties in the 2nd quarter worth about $30,000. Lee Financial Co lifted its position in shares of Gaming and Leisure Properties by 1,447.7% in the 2nd quarter. Lee Financial Co now owns 681 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 637 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of Gaming and Leisure Properties in the 1st quarter worth about $39,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Gaming and Leisure Properties Stock Performance

Shares of GLPI stock opened at $45.41 on Friday. The company has a 50 day moving average price of $46.11 and a 200-day moving average price of $47.59. Gaming and Leisure Properties, Inc. has a 52 week low of $43.54 and a 52 week high of $55.13. The firm has a market capitalization of $12.13 billion, a PE ratio of 16.57, a P/E/G ratio of 4.91 and a beta of 0.98. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.46.

Gaming and Leisure Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a $0.73 dividend. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.72. The ex-dividend date was Thursday, September 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 6.43%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 106.57%.

Analyst Upgrades and Downgrades

GLPI has been the subject of several research analyst reports. Mizuho dropped their target price on shares of Gaming and Leisure Properties from $53.00 to $50.00 in a research report on Thursday, August 10th. Wells Fargo & Company started coverage on shares of Gaming and Leisure Properties in a research report on Wednesday, September 20th. They set an “equal weight” rating and a $50.00 price target for the company. JMP Securities lowered their price target on shares of Gaming and Leisure Properties from $57.00 to $53.00 and set a “market outperform” rating for the company in a research report on Monday, October 16th. StockNews.com started coverage on shares of Gaming and Leisure Properties in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, UBS Group lifted their price target on shares of Gaming and Leisure Properties from $55.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, August 29th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Gaming and Leisure Properties has a consensus rating of “Moderate Buy” and a consensus target price of $54.25.

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.