SummitTX Capital L.P. Has $11.65 Million Stock Position in Gaming and Leisure Properties, Inc. $GLPI

SummitTX Capital L.P. raised its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 23.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 262,670 shares of the real estate investment trust’s stock after acquiring an additional 49,637 shares during the quarter. SummitTX Capital L.P.’s holdings in Gaming and Leisure Properties were worth $11,655,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Lazard Asset Management LLC boosted its holdings in shares of Gaming and Leisure Properties by 310.6% during the first quarter. Lazard Asset Management LLC now owns 25,366 shares of the real estate investment trust’s stock worth $1,125,000 after acquiring an additional 19,188 shares during the period. OMERS ADMINISTRATION Corp lifted its holdings in Gaming and Leisure Properties by 28.8% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 12,364 shares of the real estate investment trust’s stock worth $549,000 after purchasing an additional 2,768 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Gaming and Leisure Properties by 89.0% in the 1st quarter. Renaissance Technologies LLC now owns 1,221,330 shares of the real estate investment trust’s stock valued at $54,190,000 after purchasing an additional 575,000 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Gaming and Leisure Properties by 113.4% in the 1st quarter. Public Employees Retirement System of Ohio now owns 407,203 shares of the real estate investment trust’s stock valued at $18,068,000 after buying an additional 216,394 shares in the last quarter. Finally, Compound Planning Inc. acquired a new position in Gaming and Leisure Properties in the 1st quarter valued at $206,000. 91.14% of the stock is owned by institutional investors.

Gaming and Leisure Properties Stock Performance

Gaming and Leisure Properties stock opened at $45.17 on Monday. Gaming and Leisure Properties, Inc. has a 12-month low of $41.17 and a 12-month high of $49.95. The company has a quick ratio of 6.29, a current ratio of 6.29 and a debt-to-equity ratio of 1.62. The business’s 50-day moving average price is $45.67 and its two-hundred day moving average price is $46.25. The stock has a market cap of $12.80 billion, a PE ratio of 14.34, a P/E/G ratio of 2.00 and a beta of 0.66.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, April 23rd. The real estate investment trust reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. The company had revenue of $419.99 million for the quarter, compared to the consensus estimate of $417.15 million. Gaming and Leisure Properties had a net margin of 55.56% and a return on equity of 18.06%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company posted $0.96 EPS. As a group, analysts expect that Gaming and Leisure Properties, Inc. will post 4.01 earnings per share for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given a $0.82 dividend. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.78. This represents a $3.28 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date was Friday, June 12th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 104.13%.

Insiders Place Their Bets

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 3,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $48.32, for a total transaction of $144,960.00. Following the sale, the director owned 127,429 shares of the company’s stock, valued at approximately $6,157,369.28. The trade was a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.11% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GLPI has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their target price on Gaming and Leisure Properties from $53.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, June 30th. Weiss Ratings downgraded shares of Gaming and Leisure Properties from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. UBS Group set a $49.00 price target on shares of Gaming and Leisure Properties in a research report on Thursday, June 18th. Scotiabank dropped their price objective on Gaming and Leisure Properties from $52.00 to $49.00 and set a “sector perform” rating for the company in a report on Thursday, June 18th. Finally, Wells Fargo & Company cut their price objective on shares of Gaming and Leisure Properties from $48.00 to $45.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 15th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.27.

Gaming and Leisure Properties Company Profile

Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.

The company’s core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.