Vinva Investment Management Ltd Makes New Investment in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Vinva Investment Management Ltd purchased a new stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) in the third quarter, HoldingsChannel reports. The institutional investor purchased 9,984 shares of the real estate investment trust’s stock, valued at approximately $507,000.

Several other institutional investors also recently modified their holdings of the stock. Manning & Napier Advisors LLC purchased a new position in Gaming and Leisure Properties in the 2nd quarter worth approximately $3,165,000. Segall Bryant & Hamill LLC bought a new stake in shares of Gaming and Leisure Properties during the 3rd quarter worth $693,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Gaming and Leisure Properties by 63.1% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 51,991 shares of the real estate investment trust’s stock worth $2,351,000 after acquiring an additional 20,111 shares in the last quarter. Sei Investments Co. increased its stake in Gaming and Leisure Properties by 11.4% in the second quarter. Sei Investments Co. now owns 539,593 shares of the real estate investment trust’s stock valued at $24,395,000 after acquiring an additional 55,385 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Gaming and Leisure Properties by 14.0% during the second quarter. Victory Capital Management Inc. now owns 793,885 shares of the real estate investment trust’s stock valued at $35,892,000 after purchasing an additional 97,594 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GLPI has been the topic of several recent research reports. Stifel Nicolaus increased their price objective on Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Raymond James lifted their price target on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. StockNews.com cut shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft raised shares of 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 report on Wednesday, November 20th. Finally, JMP Securities restated a “market outperform” rating and set a $55.00 price target on shares of Gaming and Leisure Properties in a research report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and a consensus price target of $53.32.

Gaming and Leisure Properties Price Performance

Shares of GLPI stock opened at $51.61 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. The firm has a market cap of $14.16 billion, a P/E ratio of 18.05, a P/E/G ratio of 2.19 and a beta of 0.99. The business’s 50 day moving average price is $50.59 and its 200-day moving average price is $48.65. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.80 and a fifty-two week high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last released 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 return on equity of 17.31% and a net margin of 51.93%. The company 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 company earned $0.92 earnings per share. Gaming and Leisure Properties’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities research analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current year.

Gaming and Leisure Properties Dividend Announcement

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

Insiders Place Their Bets

In related news, Director E Scott Urdang sold 3,000 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $50.39, for a total value of $151,170.00. Following the completion of the transaction, the director now directly owns 146,800 shares in the company, valued at $7,397,252. This trade represents a 2.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.37% of the stock is owned by corporate insiders.

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.