Arete Wealth Advisors LLC Acquires New Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Arete Wealth Advisors LLC bought a new stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,423 shares of the real estate investment trust’s stock, valued at approximately $227,000.

Several other institutional investors and hedge funds have also bought and sold shares of GLPI. Assetmark Inc. lifted its stake in shares of Gaming and Leisure Properties by 2,547.6% in the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 535 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Gaming and Leisure Properties during the second quarter valued at approximately $31,000. EdgeRock Capital LLC purchased a new stake in Gaming and Leisure Properties during the second quarter valued at approximately $33,000. Farther Finance Advisors LLC raised its position in Gaming and Leisure Properties by 142.2% in the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 384 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Gaming and Leisure Properties by 578.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 590 shares during the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Stock Up 1.0 %

Shares of GLPI stock opened at $50.09 on Friday. The stock has a market cap of $13.74 billion, a P/E ratio of 17.51, a PEG ratio of 2.10 and a beta of 0.98. The company’s fifty day simple moving average is $50.49 and its two-hundred day simple moving average is $49.03. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. Gaming and Leisure Properties, Inc. has a 52 week low of $41.80 and a 52 week high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). The firm had revenue of $385.34 million during the quarter, compared to analysts’ expectations of $385.09 million. Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. Gaming and Leisure Properties’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Analysts predict that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.07%. The ex-dividend date is Friday, December 6th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 106.29%.

Insider Buying and Selling

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 3,000 shares of Gaming and Leisure Properties stock in a transaction on Monday, November 4th. The shares were sold at an average price of $50.39, for a total value of $151,170.00. Following the completion of the transaction, the director now directly owns 146,800 shares of the company’s stock, valued at $7,397,252. This trade represents a 2.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 4.37% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on GLPI. Deutsche Bank Aktiengesellschaft raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and raised their target price for the stock from $49.00 to $54.00 in a report on Wednesday, November 20th. Wolfe Research upgraded Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research note on Friday, August 23rd. StockNews.com cut shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Stifel Nicolaus upped their price target on shares of Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Mizuho reduced their price objective on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.96.

Gaming and Leisure Properties 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.