Inceptionr LLC Acquires 26,537 Shares of Gaming and Leisure Properties, Inc. $GLPI

Inceptionr LLC lifted its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 218.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 38,682 shares of the real estate investment trust’s stock after buying an additional 26,537 shares during the period. Inceptionr LLC’s holdings in Gaming and Leisure Properties were worth $1,716,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new stake in shares of Gaming and Leisure Properties in the fourth quarter valued at about $29,000. SHP Wealth Management bought a new stake in Gaming and Leisure Properties during the fourth quarter worth about $30,000. International Assets Investment Management LLC acquired a new position in Gaming and Leisure Properties during the fourth quarter valued at approximately $31,000. Blue Trust Inc. acquired a new position in Gaming and Leisure Properties during the first quarter valued at approximately $40,000. Finally, Monetary Solutions Ltd acquired a new position in Gaming and Leisure Properties during the fourth quarter valued at approximately $53,000. Institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Trading Down 0.6%

Shares of NASDAQ:GLPI opened at $44.42 on Friday. Gaming and Leisure Properties, Inc. has a 52-week low of $41.17 and a 52-week high of $49.95. The company has a debt-to-equity ratio of 1.62, a quick ratio of 6.29 and a current ratio of 6.29. The company has a market capitalization of $12.59 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 1.98 and a beta of 0.66. The company has a 50-day simple moving average of $45.69 and a 200 day simple moving average of $46.25.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Thursday, April 23rd. The real estate investment trust reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. The firm had revenue of $419.99 million for the quarter, compared to the consensus estimate of $417.15 million. Gaming and Leisure Properties had a return on equity of 18.06% and a net margin of 55.56%.The business’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.96 earnings per share. Sell-side analysts forecast that Gaming and Leisure Properties, Inc. will post 4.01 earnings per share for the current year.

Gaming and Leisure Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a dividend of $0.82 per share. The ex-dividend date was Friday, June 12th. This represents a $3.28 annualized dividend and a dividend yield of 7.4%. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.78. Gaming and Leisure Properties’s dividend payout ratio is presently 104.13%.

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $48.32, for a total transaction of $144,960.00. Following the transaction, the director directly owned 127,429 shares of the company’s stock, valued at approximately $6,157,369.28. The trade was a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Stifel Nicolaus set a $50.00 price target on Gaming and Leisure Properties in a research report on Friday, April 24th. JPMorgan Chase & Co. cut their price objective on Gaming and Leisure Properties from $53.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, June 30th. Morgan Stanley raised their target price on shares of Gaming and Leisure Properties from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. UBS Group set a $49.00 target price on shares of Gaming and Leisure Properties in a report on Thursday, June 18th. Finally, Weiss Ratings lowered shares of Gaming and Leisure Properties from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and an average target price of $51.27.

About Gaming and Leisure Properties

Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.

The company’s core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.