Ignite Planners LLC Acquires 220 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Ignite Planners LLC raised its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 1.8% in the second quarter, Holdings Channel reports. The fund owned 12,181 shares of the real estate investment trust’s stock after acquiring an additional 220 shares during the period. Ignite Planners LLC’s holdings in Gaming and Leisure Properties were worth $543,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GLPI. Headlands Technologies LLC acquired a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth $30,000. EdgeRock Capital LLC acquired a new stake in Gaming and Leisure Properties during the 4th quarter worth $33,000. MCF Advisors LLC boosted its holdings in shares of Gaming and Leisure Properties by 416.7% in the first quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 600 shares during the period. Versant Capital Management Inc boosted its stake in shares of 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 worth $34,000 after buying an additional 740 shares during the last quarter. Finally, Mather Group LLC. bought a new stake in shares of Gaming and Leisure Properties during the 1st quarter worth approximately $42,000. 91.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GLPI. 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. Stifel Nicolaus increased their target price on Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a “buy” rating in a research note on Friday, July 26th. Mizuho reduced their price target on Gaming and Leisure Properties from $47.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Royal Bank of Canada lifted their target price on Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, Wedbush restated an “outperform” rating and set a $51.00 target price on shares of Gaming and Leisure Properties in a research note on Friday, May 17th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Gaming and Leisure Properties currently has a consensus rating of “Moderate Buy” and an average price target of $51.21.

Gaming and Leisure Properties Stock Performance

GLPI traded up $0.01 during trading on Friday, hitting $49.34. 802,521 shares of the company traded hands, compared to its average volume of 1,355,695. The stock’s fifty day moving average is $46.34 and its 200 day moving average is $45.38. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.49. Gaming and Leisure Properties, Inc. has a one year low of $41.80 and a one year high of $50.74. The firm has a market cap of $13.40 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 5.14 and a beta of 0.98.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced 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 business had revenue of $380.60 million for the quarter, compared to analysts’ expectations of $377.95 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, equities analysts predict that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 6.16%. The ex-dividend date of this dividend was Friday, June 7th. Gaming and Leisure Properties’s dividend payout ratio is currently 112.18%.

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.