Family Legacy Inc. Grows Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Family Legacy Inc. increased its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 13.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,638 shares of the real estate investment trust’s stock after buying an additional 2,049 shares during the quarter. Family Legacy Inc.’s holdings in Gaming and Leisure Properties were worth $822,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of GLPI. US Bancorp DE boosted its holdings in Gaming and Leisure Properties by 106.2% during the fourth quarter. US Bancorp DE now owns 44,745 shares of the real estate investment trust’s stock worth $2,155,000 after buying an additional 23,050 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Gaming and Leisure Properties by 11.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 24,560 shares of the real estate investment trust’s stock valued at $1,183,000 after acquiring an additional 2,498 shares in the last quarter. Aew Capital Management L P boosted its stake in Gaming and Leisure Properties by 1,786.5% during the fourth quarter. Aew Capital Management L P now owns 761,600 shares of the real estate investment trust’s stock worth $36,679,000 after buying an additional 721,230 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Gaming and Leisure Properties in the 4th quarter valued at $49,188,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Gaming and Leisure Properties in the 4th quarter valued at approximately $768,000. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Stock Down 0.2 %

GLPI opened at $50.40 on Monday. Gaming and Leisure Properties, Inc. has a 12 month low of $41.80 and a 12 month high of $52.60. The stock’s 50 day moving average price is $49.49 and its 200 day moving average price is $49.70. 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 stock has a market cap of $13.85 billion, a P/E ratio of 17.56, a P/E/G ratio of 2.01 and a beta of 1.00.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.01. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. The company had revenue of $389.62 million for the quarter, compared to analysts’ expectations of $391.54 million. As a group, research analysts predict that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current year.

Gaming and Leisure Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 6.03%. The ex-dividend date was Friday, March 14th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 105.92%.

Insider Activity

In related news, COO Brandon John Moore sold 3,982 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $47.84, for a total value of $190,498.88. Following the sale, the chief operating officer now owns 278,634 shares of the company’s stock, valued at $13,329,850.56. The trade was a 1.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director E Scott Urdang sold 5,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $50.89, for a total transaction of $254,450.00. Following the completion of the transaction, the director now directly owns 140,953 shares of the company’s stock, valued at $7,173,098.17. This trade represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,064 shares of company stock valued at $2,778,908. Insiders own 4.37% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wells Fargo & Company upped their price objective on Gaming and Leisure Properties from $50.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Morgan Stanley cut Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price target for the company. in a report on Wednesday, January 15th. JPMorgan Chase & Co. upgraded shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $49.00 to $54.00 in a report on Friday, December 13th. JMP Securities restated a “market outperform” rating and set a $55.00 target price on shares of Gaming and Leisure Properties in a report on Wednesday, December 18th. Finally, Royal Bank of Canada cut their price target on Gaming and Leisure Properties from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Gaming and Leisure Properties has an average rating of “Moderate Buy” and an average price target of $53.96.

About Gaming and Leisure Properties

Gaming & Leisure Properties, Inc engages in the provision of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.