Janney Montgomery Scott LLC Raises Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Janney Montgomery Scott LLC grew its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 364,002 shares of the real estate investment trust’s stock after acquiring an additional 7,077 shares during the period. Janney Montgomery Scott LLC’s holdings in Gaming and Leisure Properties were worth $18,728,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GLPI. Price T Rowe Associates Inc. MD lifted its position in Gaming and Leisure Properties by 36.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,910,169 shares of the real estate investment trust’s stock valued at $134,074,000 after acquiring an additional 781,906 shares during the period. DigitalBridge Group Inc. bought a new position in shares of Gaming and Leisure Properties during the second quarter valued at approximately $16,936,000. Dimensional Fund Advisors LP lifted its holdings in shares of Gaming and Leisure Properties by 9.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,104,552 shares of the real estate investment trust’s stock valued at $185,564,000 after purchasing an additional 350,250 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Gaming and Leisure Properties by 6.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,534,033 shares of the real estate investment trust’s stock worth $284,726,000 after purchasing an additional 341,492 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Gaming and Leisure Properties by 126.3% in the 1st quarter. National Bank of Canada FI now owns 454,732 shares of the real estate investment trust’s stock worth $20,131,000 after buying an additional 253,763 shares during the last quarter. Institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Performance

GLPI stock opened at $50.78 on Wednesday. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35. Gaming and Leisure Properties, Inc. has a 1 year low of $41.80 and a 1 year high of $52.60. The company has a market cap of $13.93 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 2.14 and a beta of 0.99. The stock’s fifty day moving average price is $51.13 and its 200-day moving average price is $47.83.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.25). Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The firm had revenue of $385.34 million during the quarter, compared to analysts’ expectations of $385.09 million. During the same period in the previous year, the business posted $0.92 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts forecast that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.76 per share. The ex-dividend date was Friday, September 13th. This represents a $3.04 dividend on an annualized basis and a yield of 5.99%. Gaming and Leisure Properties’s dividend payout ratio is currently 106.29%.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 5,605 shares of Gaming and Leisure Properties stock in a transaction on Monday, August 12th. The shares were sold at an average price of $48.89, for a total transaction of $274,028.45. Following the transaction, the director now owns 156,685 shares in the company, valued at $7,660,329.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Desiree A. Burke sold 12,973 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $52.02, for a total value of $674,855.46. Following the transaction, the chief financial officer now owns 108,073 shares of the company’s stock, valued at $5,621,957.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director E Scott Urdang sold 5,605 shares of Gaming and Leisure Properties stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $48.89, for a total value of $274,028.45. Following the transaction, the director now directly owns 156,685 shares in the company, valued at approximately $7,660,329.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,363 shares of company stock valued at $2,991,951. Insiders own 4.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GLPI. Royal Bank of Canada lifted their price objective on Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Scotiabank lifted their price target on Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 16th. Wells Fargo & Company reissued an “equal weight” rating and set a $52.00 price objective (up from $51.00) on shares of Gaming and Leisure Properties in a research report on Tuesday, October 1st. JMP Securities restated a “market outperform” rating and set a $55.00 price objective on shares of Gaming and Leisure Properties in a research note on Tuesday, October 29th. Finally, Wolfe Research upgraded shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research note on Friday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Gaming and Leisure Properties currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.18.

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.