E Scott Urdang Buys 14,000 Shares of Gaming and Leisure Properties Inc (GLPI) Stock

Gaming and Leisure Properties Inc (NASDAQ:GLPI) Director E Scott Urdang bought 14,000 shares of the firm’s stock in a transaction dated Monday, November 5th. The stock was purchased at an average price of $33.72 per share, with a total value of $472,080.00. Following the completion of the purchase, the director now directly owns 76,971 shares of the company’s stock, valued at approximately $2,595,462.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

GLPI opened at $33.80 on Thursday. The firm has a market capitalization of $7.21 billion, a P/E ratio of 10.73, a P/E/G ratio of 0.86 and a beta of 0.75. The company has a debt-to-equity ratio of 2.31, a quick ratio of 10.00 and a current ratio of 10.00. Gaming and Leisure Properties Inc has a 12-month low of $32.51 and a 12-month high of $37.32.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.26). The company had revenue of $254.14 million during the quarter, compared to analyst estimates of $255.55 million. Gaming and Leisure Properties had a net margin of 38.95% and a return on equity of 16.10%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 earnings per share. As a group, equities research analysts anticipate that Gaming and Leisure Properties Inc will post 3.13 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be issued a $0.68 dividend. The ex-dividend date is Thursday, December 13th. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 8.05%. Gaming and Leisure Properties’s dividend payout ratio is currently 80.00%.

GLPI has been the subject of several analyst reports. BidaskClub downgraded shares of Gaming and Leisure Properties from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 22nd. Morgan Stanley upgraded shares of Gaming and Leisure Properties from an “equal” rating to a “weight” rating and set a $37.00 target price for the company in a research note on Tuesday, July 24th. SunTrust Banks restated a “buy” rating and issued a $39.00 target price on shares of Gaming and Leisure Properties in a research note on Tuesday, October 2nd. Credit Suisse Group started coverage on shares of Gaming and Leisure Properties in a research note on Tuesday, August 14th. They issued an “outperform” rating and a $41.00 target price for the company. Finally, Oppenheimer started coverage on shares of Gaming and Leisure Properties in a report on Tuesday, August 14th. They issued an “outperform” rating and a $41.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $39.50.

A number of institutional investors and hedge funds have recently bought and sold shares of GLPI. American Century Companies Inc. raised its holdings in Gaming and Leisure Properties by 162.3% in the third quarter. American Century Companies Inc. now owns 2,010,251 shares of the real estate investment trust’s stock valued at $70,861,000 after acquiring an additional 1,243,827 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Gaming and Leisure Properties by 14.9% during the second quarter. Renaissance Technologies LLC now owns 9,056,089 shares of the real estate investment trust’s stock worth $324,208,000 after purchasing an additional 1,174,600 shares during the period. FMR LLC raised its holdings in shares of Gaming and Leisure Properties by 20.3% during the second quarter. FMR LLC now owns 5,365,666 shares of the real estate investment trust’s stock worth $192,091,000 after purchasing an additional 905,752 shares during the period. Millennium Management LLC raised its holdings in shares of Gaming and Leisure Properties by 23.3% during the second quarter. Millennium Management LLC now owns 3,084,735 shares of the real estate investment trust’s stock worth $110,434,000 after purchasing an additional 582,081 shares during the period. Finally, NN Investment Partners Holdings N.V. acquired a new stake in shares of Gaming and Leisure Properties during the third quarter worth $19,238,000. 86.51% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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