Pictet Asset Management Ltd. Grows Stock Holdings in Gaming and Leisure Properties Inc (NASDAQ:GLPI)

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Pictet Asset Management Ltd. grew its holdings in shares of Gaming and Leisure Properties Inc (NASDAQ:GLPI) by 12.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,600 shares of the real estate investment trust’s stock after buying an additional 4,400 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Gaming and Leisure Properties were worth $1,505,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Commonwealth Bank of Australia raised its position in shares of Gaming and Leisure Properties by 57.0% in the second quarter. Commonwealth Bank of Australia now owns 18,523 shares of the real estate investment trust’s stock valued at $722,000 after purchasing an additional 6,723 shares during the period. Carlson Capital L P grew its stake in shares of Gaming and Leisure Properties by 58.6% in the second quarter. Carlson Capital L P now owns 304,300 shares of the real estate investment trust’s stock worth $11,862,000 after acquiring an additional 112,400 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Gaming and Leisure Properties by 45.3% in the second quarter. Canada Pension Plan Investment Board now owns 418,783 shares of the real estate investment trust’s stock worth $16,324,000 after acquiring an additional 130,483 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Gaming and Leisure Properties by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 1,453,240 shares of the real estate investment trust’s stock worth $56,647,000 after acquiring an additional 55,804 shares during the last quarter. Finally, M&T Bank Corp grew its stake in shares of Gaming and Leisure Properties by 50.9% in the second quarter. M&T Bank Corp now owns 29,623 shares of the real estate investment trust’s stock worth $1,155,000 after acquiring an additional 9,990 shares during the last quarter. Institutional investors own 89.54% of the company’s stock.

Several equities research analysts have recently issued reports on GLPI shares. Scotiabank started coverage on shares of Gaming and Leisure Properties in a research note on Monday, July 29th. They issued an “outperform” rating on the stock. BidaskClub downgraded shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Morgan Stanley set a $47.00 price objective on shares of Gaming and Leisure Properties and gave the stock a “buy” rating in a research note on Friday, August 9th. Nomura set a $42.00 price objective on shares of Gaming and Leisure Properties and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, Zacks Investment Research upgraded shares of Gaming and Leisure Properties from a “sell” rating to a “hold” rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $43.22.

In related news, SVP Matthew Demchyk bought 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was bought at an average cost of $37.57 per share, for a total transaction of $187,850.00. Following the transaction, the senior vice president now owns 42,500 shares of the company’s stock, valued at $1,596,725. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.05% of the stock is currently owned by insiders.

Shares of Gaming and Leisure Properties stock traded up $0.13 during trading on Thursday, reaching $38.90. The company’s stock had a trading volume of 91,666 shares, compared to its average volume of 968,582. The stock has a 50-day moving average price of $38.19 and a two-hundred day moving average price of $38.75. The company has a current ratio of 4.80, a quick ratio of 4.80 and a debt-to-equity ratio of 2.78. Gaming and Leisure Properties Inc has a one year low of $31.19 and a one year high of $40.82. The stock has a market capitalization of $8.33 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 1.26 and a beta of 0.53.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.33). The firm had revenue of $289.01 million for the quarter, compared to the consensus estimate of $289.64 million. Gaming and Leisure Properties had a return on equity of 14.98% and a net margin of 29.69%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 earnings per share. As a group, sell-side analysts anticipate that Gaming and Leisure Properties Inc will post 3.33 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.72 annualized dividend and a dividend yield of 6.99%. Gaming and Leisure Properties’s payout ratio is currently 85.53%.

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.

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

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