Shikiar Asset Management Inc. lifted its position in shares of Gaming and Leisure Properties Inc (NASDAQ:GLPI) by 31.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,035 shares of the real estate investment trust’s stock after purchasing an additional 16,560 shares during the period. Gaming and Leisure Properties comprises 0.9% of Shikiar Asset Management Inc.’s portfolio, making the stock its 29th largest position. Shikiar Asset Management Inc.’s holdings in Gaming and Leisure Properties were worth $2,433,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Qube Research & Technologies Ltd acquired a new stake in Gaming and Leisure Properties in the second quarter valued at $273,000. Hilltop Holdings Inc. raised its holdings in Gaming and Leisure Properties by 28.8% in the second quarter. Hilltop Holdings Inc. now owns 8,073 shares of the real estate investment trust’s stock valued at $289,000 after acquiring an additional 1,803 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Gaming and Leisure Properties by 29.0% in the second quarter. Commonwealth Equity Services LLC now owns 8,099 shares of the real estate investment trust’s stock valued at $290,000 after acquiring an additional 1,821 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its holdings in Gaming and Leisure Properties by 31.7% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 8,720 shares of the real estate investment trust’s stock valued at $312,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Hartford Investment Management Co. acquired a new stake in Gaming and Leisure Properties in the second quarter valued at $320,000. 86.51% of the stock is currently owned by hedge funds and other institutional investors.
GLPI has been the topic of several recent analyst reports. BidaskClub cut shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Barclays cut their price target on shares of Gaming and Leisure Properties from $46.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, July 12th. Morgan Stanley raised shares of Gaming and Leisure Properties from an “equal” rating to a “weight” rating and set a $37.00 price target on the stock in a report on Tuesday, July 24th. ValuEngine cut shares of Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a report on Friday, August 3rd. Finally, Credit Suisse Group initiated 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 analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $39.50.
Shares of NASDAQ:GLPI opened at $33.80 on Thursday. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 0.86 and a beta of 0.75. Gaming and Leisure Properties Inc has a 1-year low of $32.51 and a 1-year high of $37.32. 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 (NASDAQ:GLPI) last issued its earnings results on Thursday, November 1st. The real estate investment trust reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.26). The business had revenue of $254.14 million for the quarter, compared to analyst estimates of $255.55 million. Gaming and Leisure Properties had a return on equity of 16.10% and a net margin of 38.95%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the company posted $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 year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 8.05%. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Thursday, December 13th. Gaming and Leisure Properties’s dividend payout ratio is 80.00%.
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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.
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