Segall Bryant & Hamill LLC Purchases New Shares in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Segall Bryant & Hamill LLC bought a new stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) in the 3rd quarter, HoldingsChannel reports. The fund bought 13,474 shares of the real estate investment trust’s stock, valued at approximately $693,000.

Several other large investors have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its position in shares of Gaming and Leisure Properties by 6.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,534,033 shares of the real estate investment trust’s stock valued at $284,726,000 after purchasing an additional 341,492 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Gaming and Leisure Properties by 9.3% during the 2nd 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. Price T Rowe Associates Inc. MD increased its position in shares of 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 purchasing an additional 781,906 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Gaming and Leisure Properties by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,761,119 shares of the real estate investment trust’s stock valued at $124,830,000 after purchasing an additional 35,311 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC increased its position in shares of Gaming and Leisure Properties by 1.5% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 1,479,756 shares of the real estate investment trust’s stock valued at $68,172,000 after purchasing an additional 21,667 shares during the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Price Performance

Shares of Gaming and Leisure Properties stock opened at $50.92 on Monday. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35. The business’s 50 day simple moving average is $50.56 and its two-hundred day simple moving average is $48.46. The stock has a market capitalization of $13.97 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 2.15 and a beta of 0.99. Gaming and Leisure Properties, Inc. has a one year low of $41.80 and a one year high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted 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 net margin of 51.93% and a return on equity of 17.31%. The business had revenue of $385.34 million for the quarter, compared to analysts’ expectations of $385.09 million. During the same period last year, the firm posted $0.92 earnings per share. Gaming and Leisure Properties’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts forecast that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.04 annualized dividend and a dividend yield of 5.97%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 106.29%.

Insider Activity

In related news, Director E Scott Urdang sold 3,000 shares of Gaming and Leisure Properties stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $50.39, for a total transaction of $151,170.00. Following the sale, the director now directly owns 146,800 shares in the company, valued at $7,397,252. The trade was a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 sale, the chief financial officer now owns 108,073 shares in the company, valued at $5,621,957.46. This represents a 10.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,858 shares of company stock valued at $1,171,377. Company insiders own 4.37% of the company’s stock.

Analysts Set New Price Targets

GLPI has been the subject of several recent research reports. JMP Securities reissued a “market outperform” rating and issued a $55.00 price objective on shares of Gaming and Leisure Properties in a report on Tuesday, October 29th. Raymond James lifted their price objective on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Wolfe Research raised 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 report on Friday, August 23rd. Wells Fargo & Company reissued an “equal weight” rating and issued a $52.00 price objective (up previously from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Finally, StockNews.com downgraded Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $52.96.

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.