Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Get Rating) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 3,170,000 shares, a growth of 16.5% from the August 15th total of 2,720,000 shares. Based on an average daily volume of 1,740,000 shares, the days-to-cover ratio is currently 1.8 days.
Insiders Place Their Bets
In other Gaming and Leisure Properties news, EVP Brandon John Moore sold 3,000 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $52.00, for a total transaction of $156,000.00. Following the completion of the transaction, the executive vice president now owns 185,993 shares in the company, valued at $9,671,636. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.60% of the company’s stock.
Institutional Trading of Gaming and Leisure Properties
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. increased its position in shares of Gaming and Leisure Properties by 19.7% during the second quarter. Federated Hermes Inc. now owns 795,741 shares of the real estate investment trust’s stock worth $36,493,000 after purchasing an additional 130,786 shares in the last quarter. Amundi increased its position in shares of Gaming and Leisure Properties by 1.8% during the second quarter. Amundi now owns 384,391 shares of the real estate investment trust’s stock worth $18,474,000 after purchasing an additional 6,722 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Gaming and Leisure Properties during the second quarter worth about $216,000. Raleigh Capital Management Inc. increased its position in Gaming and Leisure Properties by 18.5% in the 2nd quarter. Raleigh Capital Management Inc. now owns 2,367 shares of the real estate investment trust’s stock valued at $109,000 after acquiring an additional 370 shares during the period. Finally, Captrust Financial Advisors acquired a new position in Gaming and Leisure Properties in the 2nd quarter valued at about $256,000. Institutional investors and hedge funds own 88.45% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on GLPI shares. Morgan Stanley boosted their target price on Gaming and Leisure Properties from $53.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, July 20th. Truist Financial upped their target price on Gaming and Leisure Properties from $51.00 to $54.00 and gave the stock a “hold” rating in a report on Wednesday, July 20th. UBS Group reduced their target price on Gaming and Leisure Properties to $55.00 in a report on Thursday, June 9th. Deutsche Bank Aktiengesellschaft upped their target price on Gaming and Leisure Properties from $57.00 to $62.00 in a report on Monday, August 1st. Finally, Raymond James upped their target price on Gaming and Leisure Properties from $54.00 to $56.00 and gave the stock a “strong-buy” rating in a report on Friday, July 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.50.
Gaming and Leisure Properties Stock Up 2.1 %
NASDAQ:GLPI traded up $0.99 during midday trading on Friday, reaching $48.69. The company had a trading volume of 4,746,347 shares, compared to its average volume of 2,245,660. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 2.86 and a beta of 1.01. The stock’s fifty day simple moving average is $50.30 and its 200-day simple moving average is $47.29. Gaming and Leisure Properties has a 12-month low of $41.81 and a 12-month high of $52.87. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.91.
Gaming and Leisure Properties (NASDAQ:GLPI – Get Rating) last released its earnings results on Thursday, July 28th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.27). The company had revenue of $326.40 million during the quarter, compared to analysts’ expectations of $325.40 million. Gaming and Leisure Properties had a net margin of 43.54% and a return on equity of 16.30%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.87 earnings per share. On average, sell-side analysts anticipate that Gaming and Leisure Properties will post 3.47 earnings per share for the current fiscal year.
Gaming and Leisure Properties Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a dividend of $0.705 per share. This represents a $2.82 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date of this dividend is Thursday, September 15th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 127.03%.
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.
Read More
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