BNP Paribas Financial Markets Boosts Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

BNP Paribas Financial Markets increased its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 128.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 362,422 shares of the real estate investment trust’s stock after acquiring an additional 203,689 shares during the quarter. BNP Paribas Financial Markets owned about 0.13% of Gaming and Leisure Properties worth $18,647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in GLPI. Assetmark Inc. lifted its position 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. Farther Finance Advisors LLC raised its stake 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 buying an additional 384 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Gaming and Leisure Properties in the second quarter worth about $31,000. EverSource Wealth Advisors LLC lifted its holdings in Gaming and Leisure Properties by 578.4% in the second quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 590 shares during the period. Finally, EdgeRock Capital LLC bought a new stake in Gaming and Leisure Properties during the 2nd quarter valued at approximately $33,000. Institutional investors own 91.14% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GLPI. Deutsche Bank Aktiengesellschaft raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and increased their target price for the stock from $49.00 to $54.00 in a research report on Wednesday, November 20th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $52.00 price objective (up previously from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Mizuho dropped their target price on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. StockNews.com lowered shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Wolfe Research raised shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research note on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.32.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ GLPI opened at $51.61 on Friday. 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. The company has a market cap of $14.16 billion, a PE ratio of 18.05, a PEG ratio of 2.19 and a beta of 0.99. The firm’s 50-day moving average price is $50.59 and its 200-day moving average price is $48.65.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.25). Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The firm had revenue of $385.34 million during the quarter, compared to the consensus estimate of $385.09 million. During the same period in the previous year, the firm earned $0.92 EPS. The business’s revenue was up 7.2% on a year-over-year basis. As a group, analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 5.89%. 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 the stock in a transaction that occurred 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 transaction, the director now directly owns 146,800 shares in the company, valued at approximately $7,397,252. This trade represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.37% of the stock is currently owned by insiders.

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.