Brooklyn Investment Group Makes New Investment in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Brooklyn Investment Group bought a new position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) during the third quarter, Holdings Channel.com reports. The firm bought 763 shares of the real estate investment trust’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GLPI. Jennison Associates LLC grew its holdings in shares of Gaming and Leisure Properties by 25.3% during the 3rd quarter. Jennison Associates LLC now owns 4,075,461 shares of the real estate investment trust’s stock worth $209,682,000 after acquiring an additional 821,634 shares during the period. DigitalBridge Group Inc. purchased a new stake in shares of Gaming and Leisure Properties in the 2nd quarter worth approximately $16,936,000. Dimensional Fund Advisors LP grew its stake in shares of Gaming and Leisure Properties by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,104,552 shares of the real estate investment trust’s stock worth $185,564,000 after buying an additional 350,250 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Gaming and Leisure Properties by 6.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,534,033 shares of the real estate investment trust’s stock worth $284,726,000 after buying an additional 341,492 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Gaming and Leisure Properties by 205.6% in the 3rd quarter. Bank of Montreal Can now owns 461,086 shares of the real estate investment trust’s stock worth $23,400,000 after buying an additional 310,212 shares during the last quarter. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Price Performance

NASDAQ GLPI opened at $51.61 on Friday. The business’s fifty day moving average price is $50.58 and its 200-day moving average price is $48.60. The stock has a market capitalization of $14.16 billion, a price-to-earnings 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. Gaming and Leisure Properties, Inc. has a 1-year low of $41.80 and a 1-year 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 for the quarter, missing the consensus estimate of $0.92 by ($0.25). The firm had revenue of $385.34 million for the quarter, compared to the consensus estimate of $385.09 million. Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. Gaming and Leisure Properties’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 earnings per share. On average, equities analysts predict 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. Stockholders 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 annualized dividend and a dividend yield of 5.89%. Gaming and Leisure Properties’s payout ratio is 106.29%.

Analyst Ratings Changes

Several analysts recently weighed in on GLPI shares. StockNews.com downgraded Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Stifel Nicolaus upped their price target on Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a “buy” rating in a research note on Tuesday. Raymond James upped their price target on 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. Deutsche Bank Aktiengesellschaft upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and upped their price target for the stock from $49.00 to $54.00 in a research note on Wednesday, November 20th. Finally, JMP Securities restated a “market outperform” rating and issued a $55.00 price target on shares of Gaming and Leisure Properties in a research note on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.32.

Insider Activity

In other news, Director E Scott Urdang sold 3,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $50.39, for a total transaction of $151,170.00. Following the transaction, the director now directly owns 146,800 shares of the company’s stock, valued at $7,397,252. This represents a 2.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.37% of the company’s stock.

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.