Honeywell International Inc. boosted its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 27.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,932 shares of the real estate investment trust’s stock after purchasing an additional 18,232 shares during the quarter. Honeywell International Inc.’s holdings in Gaming and Leisure Properties were worth $3,096,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in GLPI. Mckinley Capital Management LLC Delaware acquired a new position in shares of Gaming and Leisure Properties during the second quarter worth approximately $101,000. First Quadrant L P CA acquired a new position in shares of Gaming and Leisure Properties in the third quarter valued at $151,000. Advisor Group Inc. raised its stake in shares of Gaming and Leisure Properties by 75.3% in the second quarter. Advisor Group Inc. now owns 4,650 shares of the real estate investment trust’s stock valued at $143,000 after purchasing an additional 1,998 shares in the last quarter. CIBC Asset Management Inc acquired a new position in shares of Gaming and Leisure Properties in the second quarter valued at $221,000. Finally, Neuberger Berman Group LLC acquired a new position in shares of Gaming and Leisure Properties in the first quarter valued at $205,000. 89.69% of the stock is owned by hedge funds and other institutional investors.
GLPI has been the subject of a number of recent research reports. BidaskClub upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Gaming and Leisure Properties in a research note on Friday, July 28th. Stifel Nicolaus restated a “hold” rating and issued a $39.00 target price on shares of Gaming and Leisure Properties in a research note on Friday, July 28th. SunTrust Banks, Inc. restated a “hold” rating and issued a $38.00 target price on shares of Gaming and Leisure Properties in a research note on Tuesday, October 24th. Finally, Barclays PLC upped their target price on Gaming and Leisure Properties from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, August 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Gaming and Leisure Properties has a consensus rating of “Hold” and a consensus price target of $38.67.
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Shares of Gaming and Leisure Properties, Inc. (NASDAQ GLPI) traded up 1.19% during mid-day trading on Tuesday, reaching $36.59. The company’s stock had a trading volume of 147,875 shares. Gaming and Leisure Properties, Inc. has a 52-week low of $29.32 and a 52-week high of $39.32.
Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. Gaming and Leisure Properties had a return on equity of 17.44% and a net margin of 39.31%. The company had revenue of $244.50 million during the quarter, compared to analysts’ expectations of $243.66 million. During the same quarter in the previous year, the firm earned $0.43 EPS. Gaming and Leisure Properties’s revenue was up 4.8% on a year-over-year basis. Analysts expect that Gaming and Leisure Properties, Inc. will post $1.80 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.63 per share. The ex-dividend date is Thursday, November 30th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 6.97%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 140.00%.
About Gaming and Leisure Properties
Gaming and Leisure Properties, Inc (GLPI) is a self-administered and self-managed Pennsylvania real estate investment trust (REIT). The Company is engaged in the business of acquiring, financing and owning real estate property to be leased to gaming operators in triple net lease arrangements. Its segments include GLP Capital, L.P.
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