Paloma Partners Management Co Purchases Shares of 40,929 Gaming and Leisure Properties Inc (GLPI)

Paloma Partners Management Co purchased a new position in shares of Gaming and Leisure Properties Inc (NASDAQ:GLPI) in the second quarter, Holdings Channel reports. The fund purchased 40,929 shares of the real estate investment trust’s stock, valued at approximately $1,465,000.

A number of other hedge funds have also made changes to their positions in GLPI. BlackRock Inc. raised its stake in shares of Gaming and Leisure Properties by 2.7% in the 2nd quarter. BlackRock Inc. now owns 14,682,501 shares of the real estate investment trust’s stock worth $525,634,000 after buying an additional 388,519 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Gaming and Leisure Properties by 14.9% in the 2nd quarter. Renaissance Technologies LLC now owns 9,056,089 shares of the real estate investment trust’s stock worth $324,208,000 after buying an additional 1,174,600 shares in the last quarter. FMR LLC raised its stake in shares of Gaming and Leisure Properties by 20.3% in the 2nd quarter. FMR LLC now owns 5,365,666 shares of the real estate investment trust’s stock worth $192,091,000 after buying an additional 905,752 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Gaming and Leisure Properties by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,996,233 shares of the real estate investment trust’s stock worth $107,266,000 after buying an additional 47,572 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Gaming and Leisure Properties by 9.2% in the 1st quarter. Northern Trust Corp now owns 2,185,983 shares of the real estate investment trust’s stock worth $73,164,000 after buying an additional 183,582 shares in the last quarter. Institutional investors own 87.21% of the company’s stock.

GLPI has been the topic of a number of research reports. BidaskClub downgraded Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, July 11th. Zacks Investment Research downgraded Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. Barclays dropped their price objective on Gaming and Leisure Properties from $46.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, July 12th. Credit Suisse Group initiated coverage on Gaming and Leisure Properties in a research note on Tuesday, August 14th. They issued an “outperform” rating and a $41.00 price objective on the stock. Finally, Morgan Stanley raised Gaming and Leisure Properties from an “equal” rating to a “weight” rating and set a $37.00 price objective on the stock in a research note on Tuesday, July 24th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $39.00.

Shares of Gaming and Leisure Properties stock opened at $34.66 on Monday. The firm has a market cap of $7.37 billion, a PE ratio of 11.00, a P/E/G ratio of 1.05 and a beta of 0.77. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.89. Gaming and Leisure Properties Inc has a 12-month low of $32.51 and a 12-month high of $37.98.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.34). The company had revenue of $254.22 million for the quarter, compared to analyst estimates of $254.40 million. Gaming and Leisure Properties had a return on equity of 15.56% and a net margin of 38.54%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the firm earned $0.45 earnings per share. equities research analysts predict that Gaming and Leisure Properties Inc will post 3.07 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Friday, September 7th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.27%. The ex-dividend date of this dividend is Thursday, September 6th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 80.00%.

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.

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Institutional Ownership by Quarter for Gaming and Leisure Properties (NASDAQ:GLPI)

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