Insider Buying: Gaming and Leisure Properties Inc (GLPI) Director Buys $33,330.00 in Stock

Gaming and Leisure Properties Inc (NASDAQ:GLPI) Director Joseph W. Marshall III bought 1,000 shares of the firm’s stock in a transaction on Monday, November 19th. The stock was purchased at an average cost of $33.33 per share, with a total value of $33,330.00. Following the completion of the transaction, the director now directly owns 27,081 shares of the company’s stock, valued at $902,609.73. The transaction was disclosed in a filing with the SEC, which is available through this link.

Shares of NASDAQ GLPI opened at $33.23 on Friday. The firm has a market capitalization of $7.13 billion, a PE ratio of 10.55, a P/E/G ratio of 1.23 and a beta of 0.75. Gaming and Leisure Properties Inc has a fifty-two week low of $32.51 and a fifty-two week high of $37.29. The company has a debt-to-equity ratio of 2.31, a current ratio of 10.00 and a quick ratio of 10.00.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.26). The company had revenue of $254.14 million during the quarter, compared to analysts’ expectations of $255.55 million. Gaming and Leisure Properties had a net margin of 38.95% and a return on equity of 16.10%. Gaming and Leisure Properties’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 earnings per share. As a group, equities research analysts predict that Gaming and Leisure Properties Inc will post 3.1 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be given a $0.68 dividend. The ex-dividend date of this dividend 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 dividend yield of 8.19%. Gaming and Leisure Properties’s payout ratio is 80.00%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Gaming and Leisure Properties by 9.1% during the third quarter. Vanguard Group Inc. now owns 30,677,165 shares of the real estate investment trust’s stock worth $1,081,370,000 after buying an additional 2,553,357 shares in the last quarter. BlackRock Inc. grew its position in Gaming and Leisure Properties by 2.4% during the third quarter. BlackRock Inc. now owns 15,037,257 shares of the real estate investment trust’s stock worth $530,065,000 after buying an additional 354,756 shares in the last quarter. Bamco Inc. NY grew its position in Gaming and Leisure Properties by 0.3% during the third quarter. Bamco Inc. NY now owns 10,429,965 shares of the real estate investment trust’s stock worth $367,656,000 after buying an additional 31,324 shares in the last quarter. Renaissance Technologies LLC grew its position in Gaming and Leisure Properties by 11.3% during the third quarter. Renaissance Technologies LLC now owns 10,081,712 shares of the real estate investment trust’s stock worth $355,380,000 after buying an additional 1,025,623 shares in the last quarter. Finally, FMR LLC grew its position in 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 buying an additional 905,752 shares in the last quarter. Institutional investors own 88.22% of the company’s stock.

A number of analysts have issued reports on GLPI shares. Zacks Investment Research raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Thursday, October 4th. SunTrust Banks reiterated a “buy” rating and issued a $39.00 price target on shares of Gaming and Leisure Properties in a research report on Tuesday, October 2nd. Deutsche Bank lifted their price target on Gaming and Leisure Properties from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, September 26th. Jefferies Financial Group reduced their price target on Gaming and Leisure Properties from $41.00 to $37.00 and set a “hold” rating for the company in a research report on Friday, November 16th. Finally, ValuEngine upgraded Gaming and Leisure Properties from a “sell” rating to a “hold” rating in a research report on Friday, September 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $39.55.

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About Gaming and Leisure Properties

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.

See Also: Quiet Period

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