Brooklyn Investment Group Invests $39,000 in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Brooklyn Investment Group purchased a new position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 763 shares of the real estate investment trust’s stock, valued at approximately $39,000.

Several other institutional investors have also recently made changes to their positions in the company. Ignite Planners LLC increased its holdings in shares of Gaming and Leisure Properties by 1.8% in the second quarter. Ignite Planners LLC now owns 12,181 shares of the real estate investment trust’s stock worth $543,000 after purchasing an additional 220 shares during the period. EP Wealth Advisors LLC increased its holdings in shares of Gaming and Leisure Properties by 0.7% in the second quarter. EP Wealth Advisors LLC now owns 33,990 shares of the real estate investment trust’s stock worth $1,537,000 after purchasing an additional 220 shares during the period. Ieq Capital LLC increased its holdings in shares of Gaming and Leisure Properties by 0.3% in the second quarter. Ieq Capital LLC now owns 90,749 shares of the real estate investment trust’s stock worth $4,103,000 after purchasing an additional 257 shares during the period. CIBC Asset Management Inc increased its stake in Gaming and Leisure Properties by 3.6% in the third quarter. CIBC Asset Management Inc now owns 7,948 shares of the real estate investment trust’s stock valued at $409,000 after acquiring an additional 278 shares during the last quarter. Finally, Marshall Financial Group LLC increased its stake in Gaming and Leisure Properties by 1.4% in the third quarter. Marshall Financial Group LLC now owns 20,917 shares of the real estate investment trust’s stock valued at $1,076,000 after acquiring an additional 289 shares during the last quarter. Institutional investors own 91.14% of the company’s stock.

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 6,885 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.16, for a total transaction of $345,351.60. Following the transaction, the director now owns 149,800 shares in the company, valued at $7,513,968. The trade was a 4.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.37% of the stock is owned by company insiders.

Gaming and Leisure Properties Stock Down 0.1 %

NASDAQ GLPI opened at $51.61 on Friday. Gaming and Leisure Properties, Inc. has a 1 year low of $41.80 and a 1 year high of $52.60. The stock has a market capitalization of $14.16 billion, a PE ratio of 18.05, a PEG ratio of 2.19 and a beta of 0.99. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35. The business’s 50-day moving average is $50.58 and its 200 day moving average is $48.60.

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

Gaming and Leisure Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.76 per share. The ex-dividend date is Friday, December 6th. This represents a $3.04 dividend on an annualized basis and a yield of 5.89%. Gaming and Leisure Properties’s dividend payout ratio is presently 106.29%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Stifel Nicolaus increased their target price on Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and increased their target price for the company from $49.00 to $54.00 in a research note on Wednesday, November 20th. Raymond James increased their target price on Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. JMP Securities reissued a “market outperform” rating and issued a $55.00 target price on shares of Gaming and Leisure Properties in a research note on Tuesday, October 29th. Finally, StockNews.com cut Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.32.

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.