Stoneridge Investment Partners LLC Acquires Shares of 16,410 Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Stoneridge Investment Partners LLC bought a new position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 16,410 shares of the real estate investment trust’s stock, valued at approximately $742,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP grew its stake in Gaming and Leisure Properties by 40.8% in the 4th quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust’s stock worth $627,204,000 after acquiring an additional 3,684,553 shares in the last quarter. Norges Bank bought a new stake in Gaming and Leisure Properties during the 4th quarter valued at $141,537,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Gaming and Leisure Properties by 36.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,910,169 shares of the real estate investment trust’s stock worth $134,074,000 after buying an additional 781,906 shares during the period. Putnam Investments LLC grew its position in shares of Gaming and Leisure Properties by 3.1% during the 4th quarter. Putnam Investments LLC now owns 9,511,521 shares of the real estate investment trust’s stock worth $469,394,000 after buying an additional 282,828 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Gaming and Leisure Properties by 126.3% during the first quarter. National Bank of Canada FI now owns 454,732 shares of the real estate investment trust’s stock valued at $20,131,000 after buying an additional 253,763 shares during the period. 91.14% of the stock is currently owned by institutional investors.

Gaming and Leisure Properties Stock Down 0.9 %

NASDAQ:GLPI opened at $51.62 on Friday. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49. Gaming and Leisure Properties, Inc. has a twelve month low of $41.80 and a twelve month high of $52.60. The company has a market cap of $14.16 billion, a PE ratio of 19.05, a P/E/G ratio of 5.47 and a beta of 0.99. The company’s 50 day moving average is $49.68 and its two-hundred day moving average is $46.32.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). The company had revenue of $380.60 million for the quarter, compared to analysts’ expectations of $377.95 million. Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. Gaming and Leisure Properties’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the firm earned $0.92 earnings per share. Analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date is Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 112.18%.

Analyst Ratings Changes

Several research analysts have issued reports on GLPI shares. Raymond James increased their target price on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Royal Bank of Canada lifted their price objective on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Wolfe Research raised shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research note on Friday, August 23rd. Stifel Nicolaus increased their target price on Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, JMP Securities boosted their price target on Gaming and Leisure Properties from $53.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Monday, August 12th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.11.

Insider Buying and Selling

In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 12,973 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $52.02, for a total transaction of $674,855.46. Following the completion of the transaction, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Brandon John Moore sold 30,900 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the sale, the chief operating officer now directly owns 208,977 shares of the company’s stock, valued at $10,459,298.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Desiree A. Burke sold 12,973 shares of Gaming and Leisure Properties stock in a transaction that occurred on Friday, August 30th. The shares were 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. The disclosure for this sale can be found here. Insiders sold 49,478 shares of company stock valued at $2,495,429 over the last quarter. 4.40% of the stock is currently owned by company insiders.

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.