Gaming and Leisure Properties Inc (GLPI) Director E Scott Urdang Purchases 14,000 Shares

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Gaming and Leisure Properties Inc (NASDAQ:GLPI) Director E Scott Urdang bought 14,000 shares of the company’s stock in a transaction dated Monday, November 5th. The stock was purchased at an average cost of $33.72 per share, for a total transaction of $472,080.00. Following the completion of the transaction, the director now owns 76,971 shares of the company’s stock, valued at $2,595,462.12. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

NASDAQ GLPI opened at $33.70 on Wednesday. The company has a quick ratio of 10.00, a current ratio of 10.00 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of 10.70, a price-to-earnings-growth ratio of 1.02 and a beta of 0.75. Gaming and Leisure Properties Inc has a 12-month low of $32.51 and a 12-month high of $37.32.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Thursday, November 1st. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.26). The business had revenue of $254.14 million during the quarter, compared to analyst estimates of $255.55 million. Gaming and Leisure Properties had a net margin of 38.95% and a return on equity of 16.10%. Gaming and Leisure Properties’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 earnings per share. As a group, analysts anticipate that Gaming and Leisure Properties Inc will post 3.09 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be paid a $0.68 dividend. The ex-dividend date is Thursday, December 13th. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 8.07%. Gaming and Leisure Properties’s payout ratio is 80.00%.

GLPI has been the subject of several research reports. BidaskClub cut shares of Gaming and Leisure Properties from a “sell” rating to a “strong sell” rating in a report on Saturday, September 22nd. Morgan Stanley upgraded shares of Gaming and Leisure Properties from an “equal” rating to a “weight” rating and set a $37.00 price target for the company in a report on Tuesday, July 24th. SunTrust Banks restated a “buy” rating and set a $39.00 price target on shares of Gaming and Leisure Properties in a report on Tuesday, October 2nd. Credit Suisse Group initiated coverage on shares of Gaming and Leisure Properties in a report on Tuesday, August 14th. They set an “outperform” rating and a $41.00 price target for the company. Finally, Oppenheimer initiated coverage on shares of Gaming and Leisure Properties in a report on Tuesday, August 14th. They set an “outperform” rating and a $41.00 price target for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. Gaming and Leisure Properties has a consensus rating of “Hold” and a consensus price target of $39.50.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Qube Research & Technologies Ltd acquired a new stake in Gaming and Leisure Properties in the second quarter valued at approximately $273,000. Hilltop Holdings Inc. lifted its stake in Gaming and Leisure Properties by 28.8% in the second quarter. Hilltop Holdings Inc. now owns 8,073 shares of the real estate investment trust’s stock valued at $289,000 after acquiring an additional 1,803 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Gaming and Leisure Properties by 29.0% in the second quarter. Commonwealth Equity Services LLC now owns 8,099 shares of the real estate investment trust’s stock valued at $290,000 after acquiring an additional 1,821 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its stake in Gaming and Leisure Properties by 31.7% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 8,720 shares of the real estate investment trust’s stock valued at $312,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Hartford Investment Management Co. acquired a new stake in Gaming and Leisure Properties in the second quarter valued at approximately $320,000. Hedge funds and other institutional investors own 86.51% of the company’s stock.

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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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