Burke & Herbert Bank & Trust Co. Invests $426,000 in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Burke & Herbert Bank & Trust Co. bought a new stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,416 shares of the real estate investment trust’s stock, valued at approximately $426,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in Gaming and Leisure Properties during the fourth quarter worth $30,000. EdgeRock Capital LLC acquired a new stake in shares of Gaming and Leisure Properties in the 4th quarter worth about $33,000. MCF Advisors LLC lifted its position in Gaming and Leisure Properties by 416.7% in the 1st quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 600 shares in the last quarter. Versant Capital Management Inc boosted its stake in Gaming and Leisure Properties by 18,500.0% during the 2nd quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 740 shares during the last quarter. Finally, Mather Group LLC. bought a new stake in Gaming and Leisure Properties during the 1st quarter worth approximately $42,000. 91.14% of the stock is owned by institutional investors and hedge funds.

Gaming and Leisure Properties Price Performance

Gaming and Leisure Properties stock opened at $49.10 on Wednesday. The business’s 50 day simple moving average is $46.50 and its 200 day simple moving average is $45.42. Gaming and Leisure Properties, Inc. has a 12 month low of $41.80 and a 12 month high of $50.74. The company has a market cap of $13.33 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 5.14 and a beta of 0.98. 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 (NASDAQ:GLPI) last issued its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The firm had revenue of $380.60 million for the quarter, compared to analysts’ expectations of $377.95 million. During the same period in the prior year, the company earned $0.92 EPS. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. Sell-side analysts forecast that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a $0.76 dividend. The ex-dividend date was Friday, June 7th. This represents a $3.04 annualized dividend and a dividend yield of 6.19%. Gaming and Leisure Properties’s payout ratio is 112.18%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $53.00 target price on shares of Gaming and Leisure Properties in a research report on Friday, June 21st. Royal Bank of Canada upped their target price on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Stifel Nicolaus increased their target price on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a “buy” rating in a report on Friday, July 26th. Wedbush restated an “outperform” rating and set a $51.00 price target on shares of Gaming and Leisure Properties in a report on Friday, May 17th. Finally, StockNews.com upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Gaming and Leisure Properties currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.38.

Insider Activity

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of the business’s 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 sale, the director now owns 156,685 shares of the company’s stock, valued at approximately $7,660,329.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.40% of the company’s stock.

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.