Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Position Increased by Federated Hermes Inc.

Federated Hermes Inc. raised its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,111,911 shares of the real estate investment trust’s stock after buying an additional 47,179 shares during the period. Federated Hermes Inc. owned approximately 0.42% of Gaming and Leisure Properties worth $54,873,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Atlas Capital Advisors LLC raised its position in shares of Gaming and Leisure Properties by 203.0% during the first 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. Operose Advisors LLC acquired a new stake in Gaming and Leisure Properties during the 3rd quarter worth about $32,000. Zions Bancorporation N.A. purchased a new stake in Gaming and Leisure Properties during the first quarter valued at about $43,000. RVW Wealth LLC acquired a new position in Gaming and Leisure Properties in the 3rd quarter valued at approximately $47,000. Finally, Armstrong Advisory Group Inc. lifted its position in Gaming and Leisure Properties by 166.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 1,203 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 751 shares in the last quarter. Institutional investors and hedge funds own 91.14% of the company’s stock.

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang purchased 2,500 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the transaction, the director now directly owns 156,685 shares of the company’s stock, valued at approximately $7,050,825. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GLPI. Mizuho dropped their price target on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, March 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $53.00 target price on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. Royal Bank of Canada reduced their price target on Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. StockNews.com raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Finally, Morgan Stanley cut their price objective on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and a consensus price target of $52.09.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ GLPI opened at $42.80 on Friday. Gaming and Leisure Properties, Inc. has a 12 month low of $41.80 and a 12 month high of $52.45. The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 1.48. The company has a market cap of $11.62 billion, a P/E ratio of 15.45, a P/E/G ratio of 5.29 and a beta of 0.94. The business’s 50 day moving average is $45.03 and its two-hundred day moving average is $45.96.

Gaming and Leisure Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.76 per share. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 annualized dividend and a yield of 7.10%. The ex-dividend date of this dividend was Thursday, March 14th. Gaming and Leisure Properties’s dividend payout ratio is presently 109.75%.

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.