Duality Advisers LP Takes Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Duality Advisers LP acquired a new position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 12,089 shares of the real estate investment trust’s stock, valued at approximately $597,000.

Several other hedge funds have also recently bought and sold shares of GLPI. CWM LLC lifted its stake in Gaming and Leisure Properties by 38.7% in the 3rd quarter. CWM LLC now owns 1,954 shares of the real estate investment trust’s stock worth $89,000 after acquiring an additional 545 shares in the last quarter. AE Wealth Management LLC lifted its stake in Gaming and Leisure Properties by 79.3% in the 3rd quarter. AE Wealth Management LLC now owns 23,613 shares of the real estate investment trust’s stock worth $1,076,000 after acquiring an additional 10,445 shares in the last quarter. Ballentine Partners LLC purchased a new stake in Gaming and Leisure Properties in the 3rd quarter worth about $416,000. Commonwealth Equity Services LLC lifted its stake in Gaming and Leisure Properties by 15.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 22,433 shares of the real estate investment trust’s stock worth $1,022,000 after acquiring an additional 2,957 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Gaming and Leisure Properties by 0.9% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 121,200 shares of the real estate investment trust’s stock worth $5,521,000 after acquiring an additional 1,100 shares in the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average price of $45.00 per share, for a total transaction of $112,500.00. Following the purchase, the director now directly owns 156,685 shares in the company, valued at $7,050,825. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GLPI shares. JMP Securities reissued a “market outperform” rating and issued a $53.00 price objective on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. Morgan Stanley dropped their target price on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. Mizuho dropped their target price on Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Royal Bank of Canada dropped their target price on Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Finally, StockNews.com raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.09.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ GLPI opened at $43.43 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 7.41 and a current ratio of 7.41. The firm has a market cap of $11.79 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 5.43 and a beta of 0.94. The business’s 50-day simple moving average is $44.91 and its 200-day simple moving average is $45.93. Gaming and Leisure Properties, Inc. has a 52 week low of $41.80 and a 52 week high of $52.31.

Gaming and Leisure Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.76 per share. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 7.00%. Gaming and Leisure Properties’s dividend payout ratio is currently 109.75%.

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.