Federated Hermes Inc. Buys 23,660 Shares of Gaming and Leisure Properties Inc (NASDAQ:GLPI)

Federated Hermes Inc. grew its stake in Gaming and Leisure Properties Inc (NASDAQ:GLPI) by 31.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,790 shares of the real estate investment trust’s stock after acquiring an additional 23,660 shares during the period. Federated Hermes Inc.’s holdings in Gaming and Leisure Properties were worth $2,709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Paragon Capital Management LLC bought a new stake in shares of Gaming and Leisure Properties during the first quarter valued at approximately $25,000. Parallel Advisors LLC raised its position in Gaming and Leisure Properties by 55.6% in the 1st quarter. Parallel Advisors LLC now owns 1,508 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 539 shares during the last quarter. Sowell Financial Services LLC lifted its holdings in Gaming and Leisure Properties by 104.3% during the 1st quarter. Sowell Financial Services LLC now owns 1,622 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 828 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Gaming and Leisure Properties by 8.1% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 3,055 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 230 shares in the last quarter. Finally, Gratus Capital LLC bought a new position in Gaming and Leisure Properties in the 4th quarter valued at $211,000. 86.95% of the stock is owned by institutional investors.

In other Gaming and Leisure Properties news, Director Earl C. Shanks bought 10,000 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was purchased at an average cost of $14.80 per share, with a total value of $148,000.00. 5.83% of the stock is owned by corporate insiders.

Shares of GLPI stock opened at $36.03 on Friday. The stock has a market cap of $8.01 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 1.92 and a beta of 0.98. The stock has a 50-day moving average of $30.97 and a 200-day moving average of $37.49. The company has a debt-to-equity ratio of 3.20, a current ratio of 9.92 and a quick ratio of 9.92. Gaming and Leisure Properties Inc has a one year low of $12.78 and a one year high of $49.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.40). The firm had revenue of $283.50 million for the quarter, compared to analyst estimates of $283.61 million. Gaming and Leisure Properties had a net margin of 34.35% and a return on equity of 18.91%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 EPS. As a group, research analysts anticipate that Gaming and Leisure Properties Inc will post 3.19 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Wednesday, May 13th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 6.66%. The ex-dividend date of this dividend is Tuesday, May 12th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 13.95%.

Several equities analysts have recently issued reports on GLPI shares. Deutsche Bank cut their price target on Gaming and Leisure Properties from $46.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. ValuEngine downgraded shares of Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Morgan Stanley lowered their price target on shares of Gaming and Leisure Properties from $33.00 to $32.41 and set an “overweight” rating for the company in a research report on Tuesday, May 12th. SunTrust Banks dropped their price target on shares of Gaming and Leisure Properties from $56.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Finally, TheStreet raised shares of Gaming and Leisure Properties from a “c” rating to a “b-” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $36.43.

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.

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

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