LSV Asset Management Increases Position in Gaming and Leisure Properties Inc (GLPI)

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LSV Asset Management increased its holdings in Gaming and Leisure Properties Inc (NASDAQ:GLPI) by 200.9% during the 1st quarter, Holdings Channel reports. The firm owned 3,077,132 shares of the real estate investment trust’s stock after buying an additional 2,054,581 shares during the period. LSV Asset Management’s holdings in Gaming and Leisure Properties were worth $118,684,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GLPI. JPMorgan Chase & Co. boosted its holdings in Gaming and Leisure Properties by 106.0% during the third quarter. JPMorgan Chase & Co. now owns 362,506 shares of the real estate investment trust’s stock worth $12,778,000 after purchasing an additional 186,538 shares during the last quarter. Vanguard Group Inc boosted its stake in Gaming and Leisure Properties by 9.1% in the third quarter. Vanguard Group Inc now owns 30,677,165 shares of the real estate investment trust’s stock valued at $1,081,370,000 after acquiring an additional 2,553,357 shares during the last quarter. First Hawaiian Bank purchased a new position in Gaming and Leisure Properties in the fourth quarter valued at about $76,000. Gateway Investment Advisers LLC purchased a new position in Gaming and Leisure Properties in the fourth quarter valued at about $201,000. Finally, Fox Run Management L.L.C. purchased a new position in Gaming and Leisure Properties in the fourth quarter valued at about $249,000. Institutional investors own 90.67% of the company’s stock.

In other Gaming and Leisure Properties news, SVP Matthew Demchyk purchased 4,000 shares of the stock in a transaction dated Thursday, February 28th. The shares were bought at an average price of $36.50 per share, with a total value of $146,000.00. Following the completion of the transaction, the senior vice president now directly owns 37,500 shares in the company, valued at approximately $1,368,750. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Desiree A. Burke sold 41,458 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $39.06, for a total transaction of $1,619,349.48. Following the completion of the sale, the chief accounting officer now directly owns 119,264 shares in the company, valued at approximately $4,658,451.84. The disclosure for this sale can be found here. 5.88% of the stock is owned by insiders.

GLPI opened at $39.79 on Monday. The company has a debt-to-equity ratio of 2.72, a quick ratio of 2.99 and a current ratio of 2.99. The stock has a market capitalization of $8.54 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 0.95 and a beta of 0.56. Gaming and Leisure Properties Inc has a twelve month low of $31.19 and a twelve month high of $40.69.

A number of research analysts have weighed in on the stock. Zacks Investment Research cut shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Deutsche Bank reiterated a “buy” rating and issued a $47.00 target price on shares of Gaming and Leisure Properties in a research note on Sunday, May 12th. BidaskClub cut shares of Gaming and Leisure Properties from a “strong-buy” rating to a “buy” rating in a research note on Friday. Stifel Nicolaus upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and boosted their target price for the company from $39.00 to $43.00 in a research note on Monday, April 15th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $41.00 target price on shares of Gaming and Leisure Properties in a research note on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $41.70.

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Gaming and Leisure Properties Profile

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.

Further Reading: Stock Split

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

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