Pitcairn Co. Takes $508,000 Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Pitcairn Co. bought a new stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) during the third quarter, HoldingsChannel.com reports. The fund bought 10,971 shares of the real estate investment trust’s stock, valued at approximately $508,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC increased its stake in Gaming and Leisure Properties by 50.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 99,079 shares of the real estate investment trust’s stock worth $4,589,000 after buying an additional 33,327 shares during the period. First Trust Advisors LP increased its stake in Gaming and Leisure Properties by 770.4% during the 2nd quarter. First Trust Advisors LP now owns 232,962 shares of the real estate investment trust’s stock worth $10,793,000 after buying an additional 206,196 shares during the period. Profund Advisors LLC purchased a new stake in Gaming and Leisure Properties during the 2nd quarter worth $358,000. Russell Investments Group Ltd. increased its position in shares of Gaming and Leisure Properties by 10.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 741,681 shares of the real estate investment trust’s stock worth $34,352,000 after purchasing an additional 67,194 shares during the last quarter. Finally, Family Management Corp bought a new stake in shares of Gaming and Leisure Properties in the 2nd quarter worth about $394,000. 87.15% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently commented on GLPI. Raymond James lifted their price target on shares of Gaming and Leisure Properties from $52.00 to $54.00 and gave the company a “strong-buy” rating in a report on Wednesday, December 8th. Bank of America lowered shares of Gaming and Leisure Properties from a “buy” rating to an “underperform” rating in a report on Monday, January 10th. Truist Securities lowered shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating and reduced their target price for the company from $57.00 to $51.00 in a research note on Thursday. Mizuho boosted their target price on shares of Gaming and Leisure Properties from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, November 1st. Finally, Morgan Stanley boosted their target price on shares of Gaming and Leisure Properties from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, December 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $52.87.

In other Gaming and Leisure Properties news, SVP Steven Ladany sold 2,260 shares of the business’s stock in a transaction that occurred on Thursday, January 6th. The shares were sold at an average price of $47.59, for a total value of $107,553.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director E Scott Urdang bought 3,000 shares of the firm’s stock in a transaction on Wednesday, December 15th. The stock was acquired at an average cost of $45.71 per share, with a total value of $137,130.00. The disclosure for this purchase can be found here. Insiders sold 43,976 shares of company stock valued at $2,124,025 over the last three months. Insiders own 5.53% of the company’s stock.

Shares of GLPI opened at $44.64 on Friday. The company’s 50 day moving average price is $46.74 and its 200 day moving average price is $47.55. Gaming and Leisure Properties, Inc. has a 52 week low of $39.08 and a 52 week high of $51.46. The company has a market capitalization of $10.64 billion, a PE ratio of 17.86, a PEG ratio of 5.15 and a beta of 1.04. The company has a debt-to-equity ratio of 2.00, a quick ratio of 4.72 and a current ratio of 4.72.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Wednesday, October 27th. The real estate investment trust reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.03. Gaming and Leisure Properties had a net margin of 47.92% and a return on equity of 21.35%. The firm had revenue of $298.71 million for the quarter, compared to the consensus estimate of $295.47 million. During the same period in the previous year, the firm posted $0.89 earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis. On average, equities analysts forecast that Gaming and Leisure Properties, Inc. will post 3.4 earnings per share for the current fiscal year.

The business also recently disclosed a None dividend, which was paid on Friday, January 7th. Investors of record on Monday, December 27th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, December 23rd. Gaming and Leisure Properties’s payout ratio is presently 107.20%.

Gaming and Leisure Properties Company Profile

Gaming & Leisure Properties, Inc is engaged in acquiring, financing, and owning real estate property to be leased to gaming operators in triple net lease arrangements. It operates through the GLP Capital and TRS Properties segments. The GLP Capital segment consists of the leased real property and represents the majority of business.

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

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