Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Acquired by EWG Elevate Inc.

EWG Elevate Inc. increased its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 7.9% in the second quarter, HoldingsChannel.com reports. The firm owned 54,570 shares of the real estate investment trust’s stock after acquiring an additional 3,972 shares during the quarter. EWG Elevate Inc.’s holdings in Gaming and Leisure Properties were worth $2,644,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GLPI. Atlas Capital Advisors LLC increased its holdings in Gaming and Leisure Properties by 203.0% in the first quarter. Atlas Capital Advisors LLC now owns 512 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 343 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Gaming and Leisure Properties during the first quarter worth $39,000. HBC Financial Services PLLC acquired a new position in Gaming and Leisure Properties during the first quarter worth $41,000. Zions Bancorporation N.A. purchased a new stake in Gaming and Leisure Properties during the first quarter worth $43,000. Finally, Quadrant Capital Group LLC grew its holdings in Gaming and Leisure Properties by 118.6% in the fourth quarter. Quadrant Capital Group LLC now owns 1,056 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 573 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Analysts Set New Price Targets

GLPI has been the topic of several recent research reports. UBS Group boosted their price objective on shares of Gaming and Leisure Properties from $55.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, August 29th. StockNews.com assumed coverage on shares of Gaming and Leisure Properties in a research note on Thursday, August 17th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating and reduced their target price for the company from $60.00 to $52.00 in a research note on Wednesday, July 5th. JMP Securities reissued a “market outperform” rating and set a $57.00 price target on shares of Gaming and Leisure Properties in a research report on Thursday, August 31st. Finally, Mizuho dropped their price objective on Gaming and Leisure Properties from $53.00 to $50.00 in a research report on Thursday, August 10th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Gaming and Leisure Properties has an average rating of “Moderate Buy” and a consensus target price of $55.80.

Insider Activity at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director Barry F. Schwartz acquired 1,500 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was bought at an average cost of $45.83 per share, for a total transaction of $68,745.00. Following the completion of the purchase, the director now directly owns 55,323 shares in the company, valued at $2,535,453.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Barry F. Schwartz acquired 1,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was bought at an average price of $47.35 per share, with a total value of $47,350.00. Following the completion of the transaction, the director now directly owns 52,823 shares of the company’s stock, valued at $2,501,169.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barry F. Schwartz acquired 1,500 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were purchased at an average price of $45.83 per share, for a total transaction of $68,745.00. Following the purchase, the director now directly owns 55,323 shares of the company’s stock, valued at $2,535,453.09. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 3,500 shares of company stock worth $163,835. Company insiders own 4.40% of the company’s stock.

Gaming and Leisure Properties Price Performance

Shares of Gaming and Leisure Properties stock opened at $47.77 on Tuesday. The business’s fifty day moving average price is $47.79 and its 200 day moving average price is $49.23. Gaming and Leisure Properties, Inc. has a twelve month low of $43.46 and a twelve month high of $55.13. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $12.55 billion, a P/E ratio of 16.52, a PEG ratio of 4.29 and a beta of 0.98.

Gaming and Leisure Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 6.11%. The ex-dividend date of this dividend is Thursday, September 14th. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.72. Gaming and Leisure Properties’s dividend payout ratio is 101.04%.

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.