DAVENPORT & Co LLC Raises Stock Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

DAVENPORT & Co LLC boosted its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 29.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,445,716 shares of the real estate investment trust’s stock after purchasing an additional 327,111 shares during the period. DAVENPORT & Co LLC owned about 0.66% of Gaming and Leisure Properties worth $53,390,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Avantax Advisory Services Inc. bought a new stake in shares of Gaming and Leisure Properties during the 3rd quarter worth $291,000. Envestnet Asset Management Inc. increased its holdings in Gaming and Leisure Properties by 2.0% during the third quarter. Envestnet Asset Management Inc. now owns 162,934 shares of the real estate investment trust’s stock worth $6,017,000 after buying an additional 3,207 shares during the last quarter. Redpoint Investment Management Pty Ltd raised its position in shares of Gaming and Leisure Properties by 2.6% in the third quarter. Redpoint Investment Management Pty Ltd now owns 14,502 shares of the real estate investment trust’s stock valued at $536,000 after purchasing an additional 366 shares during the period. Moody National Bank Trust Division lifted its stake in shares of Gaming and Leisure Properties by 1.3% during the 3rd quarter. Moody National Bank Trust Division now owns 119,566 shares of the real estate investment trust’s stock valued at $4,416,000 after buying an additional 1,486 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Gaming and Leisure Properties by 1.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 63,290 shares of the real estate investment trust’s stock worth $2,336,000 after buying an additional 1,118 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

A number of equities analysts have recently commented on GLPI shares. BidaskClub lowered Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $40.00 target price (up previously from $38.00) on shares of Gaming and Leisure Properties in a research note on Friday, July 31st. Morgan Stanley lifted their target price on Gaming and Leisure Properties from $32.41 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Barclays reissued a “buy” rating on shares of Gaming and Leisure Properties in a report on Tuesday, August 4th. Finally, Bank of America boosted their price objective on shares of Gaming and Leisure Properties from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $39.70.

NASDAQ GLPI traded down $0.69 during trading hours on Friday, reaching $37.92. 431,501 shares of the stock traded hands, compared to its average volume of 1,745,104. The company has a debt-to-equity ratio of 2.74, a current ratio of 4.81 and a quick ratio of 4.81. The stock has a 50 day simple moving average of $37.59 and a two-hundred day simple moving average of $34.03. Gaming and Leisure Properties, Inc. has a 1 year low of $12.78 and a 1 year high of $49.99. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 2.73 and a beta of 0.95.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.52 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.28). The firm had revenue of $261.97 million for the quarter, compared to the consensus estimate of $259.53 million. Gaming and Leisure Properties had a net margin of 36.90% and a return on equity of 19.97%. On average, sell-side analysts forecast that Gaming and Leisure Properties, Inc. will post 3.31 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Monday, August 17th were issued a dividend of $0.60 per share. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date of this dividend was Friday, August 14th. Gaming and Leisure Properties’s dividend payout ratio is currently 69.77%.

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.

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

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