Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Sees Significant Increase in Short Interest

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 4,870,000 shares, an increase of 15.1% from the August 15th total of 4,230,000 shares. Based on an average trading volume of 1,230,000 shares, the short-interest ratio is currently 4.0 days.

Analysts Set New Price Targets

GLPI has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft lowered shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating and cut their price target for the company from $60.00 to $52.00 in a research note on Wednesday, July 5th. BNP Paribas initiated coverage on Gaming and Leisure Properties in a report on Wednesday, June 14th. They set an “outperform” rating and a $63.00 target price for the company. UBS Group upped their price objective on Gaming and Leisure Properties from $55.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $54.00 target price on shares of Gaming and Leisure Properties in a research report on Wednesday, August 30th. Finally, Mizuho reduced their price target on Gaming and Leisure Properties from $53.00 to $50.00 in a research report on Thursday, August 10th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.80.

Insiders Place Their Bets

In other news, Director Barry F. Schwartz bought 1,500 shares of the stock in a transaction dated Thursday, August 17th. The stock was bought at an average cost of $45.83 per share, with a total value of $68,745.00. Following the purchase, the director now owns 55,323 shares of the company’s stock, valued at $2,535,453.09. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Barry F. Schwartz bought 1,000 shares of the business’s stock in a transaction on Friday, August 11th. The shares were purchased at an average price of $47.74 per share, with a total value of $47,740.00. Following the completion of the purchase, the director now owns 53,823 shares of the company’s stock, valued at approximately $2,569,510.02. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Barry F. Schwartz bought 1,500 shares of Gaming and Leisure Properties stock in a transaction on Thursday, August 17th. The shares were bought at an average price of $45.83 per share, for a total transaction of $68,745.00. Following the acquisition, the director now owns 55,323 shares of the company’s stock, valued at approximately $2,535,453.09. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 3,500 shares of company stock valued at $163,835. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Gaming and Leisure Properties

Several hedge funds and other institutional investors have recently modified their holdings of the business. Impact Partnership Wealth LLC acquired a new position in Gaming and Leisure Properties during the 2nd quarter worth approximately $27,000. Atlas Capital Advisors LLC boosted its holdings in shares of Gaming and Leisure Properties by 203.0% during the 1st quarter. Atlas Capital Advisors LLC now owns 512 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 343 shares in the last quarter. Salem Investment Counselors Inc. bought a new stake in Gaming and Leisure Properties during the 2nd quarter worth $30,000. Lee Financial Co increased its holdings in Gaming and Leisure Properties by 1,447.7% in the 2nd quarter. Lee Financial Co now owns 681 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 637 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in Gaming and Leisure Properties in the first quarter valued at about $39,000. Institutional investors own 89.08% of the company’s stock.

Gaming and Leisure Properties Price Performance

Shares of GLPI stock traded up $0.37 during trading on Tuesday, hitting $48.10. The company had a trading volume of 1,719,327 shares, compared to its average volume of 1,419,213. The firm has a market capitalization of $12.63 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 4.29 and a beta of 0.98. Gaming and Leisure Properties has a one year low of $43.46 and a one year high of $55.13. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.11 and a current ratio of 0.11. The stock’s 50-day moving average price is $47.79 and its 200 day moving average price is $49.23.

Gaming and Leisure Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.73 per share. The ex-dividend date is Thursday, September 14th. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a yield of 6.07%. Gaming and Leisure Properties’s dividend payout ratio is presently 101.04%.

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.