Russell Investments Group Ltd. Raises Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Russell Investments Group Ltd. boosted its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 243,281 shares of the real estate investment trust’s stock after buying an additional 10,039 shares during the period. Russell Investments Group Ltd. owned 0.09% of Gaming and Leisure Properties worth $12,006,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth approximately $2,501,000. GraniteShares Advisors LLC acquired a new stake in shares of Gaming and Leisure Properties in the fourth quarter valued at about $1,473,000. Pacer Advisors Inc. lifted its stake in shares of Gaming and Leisure Properties by 107.4% in the fourth quarter. Pacer Advisors Inc. now owns 45,803 shares of the real estate investment trust’s stock worth $2,260,000 after buying an additional 23,722 shares in the last quarter. Signature Wealth Management Group acquired a new position in Gaming and Leisure Properties during the fourth quarter worth about $3,944,000. Finally, Louisiana State Employees Retirement System purchased a new stake in Gaming and Leisure Properties during the 4th quarter valued at about $3,701,000. Institutional investors and hedge funds own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Down 0.7 %

NASDAQ:GLPI opened at $43.20 on Friday. Gaming and Leisure Properties, Inc. has a 52 week low of $41.80 and a 52 week high of $51.43. The stock’s fifty day moving average is $44.60 and its two-hundred day moving average is $45.75. The stock has a market capitalization of $11.73 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 5.12 and a beta of 0.95. The company has a quick ratio of 6.47, a current ratio of 6.47 and a debt-to-equity ratio of 1.49.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.26). The firm had revenue of $376.00 million for the quarter, compared to analyst estimates of $368.44 million. Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. Gaming and Leisure Properties’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 EPS. Research analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.66 EPS for the current year.

Gaming and Leisure Properties Increases Dividend

The firm 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 an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 annualized dividend and a yield of 7.04%. The ex-dividend date of this dividend was Thursday, March 14th. Gaming and Leisure Properties’s dividend payout ratio is presently 112.18%.

Insiders Place Their Bets

In related news, Director E Scott Urdang acquired 2,500 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were acquired at an average price of $45.00 per share, with a total value of $112,500.00. Following the completion of the transaction, the director now owns 156,685 shares of the company’s stock, valued at $7,050,825. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Mizuho lowered their target price on Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, March 7th. JMP Securities restated a “market outperform” rating and issued a $53.00 target price on shares of Gaming and Leisure Properties in a report on Monday, March 4th. Royal Bank of Canada cut their price objective on shares of Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. StockNews.com lowered shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Morgan Stanley cut their price target on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Gaming and Leisure Properties has an average rating of “Moderate Buy” and a consensus price target of $51.91.

Gaming and Leisure Properties Company 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.