LPL Financial LLC Buys 1,062 Shares of Gaming and Leisure Properties Inc (GLPI)

LPL Financial LLC raised its position in Gaming and Leisure Properties Inc (NASDAQ:GLPI) by 6.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 18,159 shares of the real estate investment trust’s stock after purchasing an additional 1,062 shares during the period. LPL Financial LLC’s holdings in Gaming and Leisure Properties were worth $587,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Parallel Advisors LLC lifted its position in Gaming and Leisure Properties by 50.6% during the fourth quarter. Parallel Advisors LLC now owns 905 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 304 shares during the period. Nissay Asset Management Corp Japan ADV lifted its position in Gaming and Leisure Properties by 2.9% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 14,686 shares of the real estate investment trust’s stock worth $475,000 after buying an additional 413 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Gaming and Leisure Properties by 43.4% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,434 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 434 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Gaming and Leisure Properties by 1.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,107 shares of the real estate investment trust’s stock worth $1,781,000 after purchasing an additional 551 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in shares of Gaming and Leisure Properties by 3.5% in the 4th quarter. Advisors Asset Management Inc. now owns 17,355 shares of the real estate investment trust’s stock worth $561,000 after purchasing an additional 588 shares during the period. Institutional investors and hedge funds own 88.22% of the company’s stock.

A number of research firms have recently issued reports on GLPI. BidaskClub upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Wednesday, March 13th. Credit Suisse Group reiterated an “outperform” rating and issued a $41.00 target price on shares of Gaming and Leisure Properties in a research note on Wednesday, March 20th. Zacks Investment Research lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Finally, Stifel Nicolaus upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and increased their target price for the company from $39.00 to $43.00 in a research note on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $40.18.

In other news, CAO Desiree A. Burke sold 41,458 shares of Gaming and Leisure Properties stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $39.06, for a total value of $1,619,349.48. Following the completion of the transaction, the chief accounting officer now owns 119,264 shares in the company, valued at approximately $4,658,451.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Matthew Demchyk purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The stock was bought at an average cost of $36.49 per share, for a total transaction of $36,490.00. Following the acquisition, the senior vice president now owns 33,500 shares in the company, valued at approximately $1,222,415. The disclosure for this purchase can be found here. 5.88% of the stock is currently owned by company insiders.

NASDAQ GLPI traded up $0.28 during mid-day trading on Monday, reaching $39.81. 1,447,421 shares of the company’s stock traded hands, compared to its average volume of 1,364,471. Gaming and Leisure Properties Inc has a 1-year low of $31.19 and a 1-year high of $39.99. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 2.58. The firm has a market cap of $8.48 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.41 and a beta of 0.55.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Wednesday, February 13th. The real estate investment trust reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. Gaming and Leisure Properties had a return on equity of 14.42% and a net margin of 32.16%. The firm had revenue of $303.30 million during the quarter, compared to analyst estimates of $306.12 million. During the same quarter last year, the firm earned $0.55 EPS. Gaming and Leisure Properties’s quarterly revenue was up 26.0% on a year-over-year basis. On average, analysts anticipate that Gaming and Leisure Properties Inc will post 3.36 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $0.68 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.72 annualized dividend and a dividend yield of 6.83%. Gaming and Leisure Properties’s payout ratio is 85.53%.

ILLEGAL ACTIVITY WARNING: “LPL Financial LLC Buys 1,062 Shares of Gaming and Leisure Properties Inc (GLPI)” was first published by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this article on another publication, it was stolen and republished in violation of United States and international copyright & trademark legislation. The legal version of this article can be accessed at https://www.baseballdailydigest.com/news/2019/04/15/gaming-and-leisure-properties-inc-glpi-shares-bought-by-lpl-financial-llc.html.

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.

Further Reading: The Discount Rate – What You Need to Know

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

Receive News & Ratings for Gaming and Leisure Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gaming and Leisure Properties and related companies with MarketBeat.com's FREE daily email newsletter.