Sound Income Strategies LLC Raises Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Sound Income Strategies LLC boosted its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 13.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 220,496 shares of the real estate investment trust’s stock after acquiring an additional 25,433 shares during the period. Sound Income Strategies LLC owned 0.08% of Gaming and Leisure Properties worth $10,158,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth approximately $30,000. Operose Advisors LLC bought a new stake in Gaming and Leisure Properties in the 3rd quarter valued at about $32,000. EdgeRock Capital LLC bought a new stake in Gaming and Leisure Properties in the fourth quarter worth about $33,000. Mather Group LLC. acquired a new stake in shares of Gaming and Leisure Properties during the 1st quarter valued at $42,000. Finally, GAMMA Investing LLC bought a new stake in shares of Gaming and Leisure Properties during the fourth quarter valued at approximately $51,000. Institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Price Performance

NASDAQ GLPI traded up $0.16 on Wednesday, reaching $44.03. 811,091 shares of the company’s stock traded hands, compared to its average volume of 1,331,399. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.47 and a quick ratio of 6.47. Gaming and Leisure Properties, Inc. has a 12 month low of $41.80 and a 12 month high of $50.06. The stock has a market cap of $11.95 billion, a PE ratio of 16.13, a P/E/G ratio of 5.16 and a beta of 0.96. The stock has a 50-day simple moving average of $44.10 and a 200 day simple moving average of $45.45.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its earnings results on Friday, April 26th. The real estate investment trust reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). The company had revenue of $376.00 million during the quarter, compared to analysts’ expectations of $368.44 million. Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. Gaming and Leisure Properties’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 EPS. As a group, research analysts predict that Gaming and Leisure Properties, Inc. will post 3.65 earnings per share for the current year.

Gaming and Leisure Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a $0.76 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.04 annualized dividend and a yield of 6.90%. Gaming and Leisure Properties’s dividend payout ratio is presently 112.18%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GLPI shares. Stifel Nicolaus lifted their target price on Gaming and Leisure Properties from $50.75 to $51.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Mizuho dropped their price target on shares of Gaming and Leisure Properties from $47.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Wells Fargo & Company reduced their target price on Gaming and Leisure Properties from $49.00 to $48.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th. Morgan Stanley reiterated an “overweight” rating and issued a $53.00 price target on shares of Gaming and Leisure Properties in a report on Friday, June 21st. Finally, Royal Bank of Canada dropped their price target on shares of Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $50.33.

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.