Short Interest in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Grows By 13.4%

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 3,970,000 shares, a growth of 13.4% from the February 29th total of 3,500,000 shares. Based on an average trading volume of 1,480,000 shares, the days-to-cover ratio is presently 2.7 days.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GLPI. Royal Bank of Canada decreased their price objective on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Mizuho lowered their price target on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, March 7th. Morgan Stanley reduced their price objective on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. The Goldman Sachs Group assumed coverage on Gaming and Leisure Properties in a research note on Friday, December 8th. They issued a “neutral” rating and a $51.00 target price on the stock. Finally, JMP Securities reiterated a “market outperform” rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Gaming and Leisure Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.50.

Gaming and Leisure Properties Price Performance

Shares of GLPI traded down $0.09 during midday trading on Tuesday, hitting $45.43. 422,796 shares of the company traded hands, compared to its average volume of 1,470,796. Gaming and Leisure Properties has a one year low of $43.54 and a one year high of $52.45. The firm has a market cap of $12.33 billion, a P/E ratio of 16.43, a PEG ratio of 5.76 and a beta of 0.94. The company has a debt-to-equity ratio of 1.48, a current ratio of 7.41 and a quick ratio of 7.41. The stock has a 50-day moving average of $45.56 and a 200-day moving average of $46.22.

Gaming and Leisure Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 6.69%. The ex-dividend date was Thursday, March 14th. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. Gaming and Leisure Properties’s dividend payout ratio is 109.75%.

Insiders Place Their Bets

In other news, SVP Matthew Demchyk sold 25,391 shares of the stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $48.87, for a total value of $1,240,858.17. Following the completion of the sale, the senior vice president now owns 57,976 shares in the company, valued at $2,833,287.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Gaming and Leisure Properties news, Director E Scott Urdang purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the completion of the acquisition, the director now owns 156,685 shares of the company’s stock, valued at approximately $7,050,825. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Matthew Demchyk sold 25,391 shares of the company’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $48.87, for a total value of $1,240,858.17. Following the completion of the transaction, the senior vice president now owns 57,976 shares of the company’s stock, valued at approximately $2,833,287.12. The disclosure for this sale can be found here. Insiders have sold 53,614 shares of company stock valued at $2,621,353 in the last three months. 4.40% of the stock is currently owned by insiders.

Institutional Trading of Gaming and Leisure Properties

Several institutional investors and hedge funds have recently bought and sold shares of the company. Atlas Capital Advisors LLC increased its holdings in shares of 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 worth $27,000 after purchasing an additional 343 shares during the period. Headlands Technologies LLC purchased a new position in Gaming and Leisure Properties during the fourth quarter worth about $30,000. Operose Advisors LLC bought a new position in Gaming and Leisure Properties in the 3rd quarter worth about $32,000. EdgeRock Capital LLC purchased a new stake in shares of Gaming and Leisure Properties in the 4th quarter valued at about $33,000. Finally, Zions Bancorporation N.A. bought a new stake in shares of Gaming and Leisure Properties during the 1st quarter valued at about $43,000. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

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.