Friedberg Investment Management Has $1.26 Million Stake in Gaming and Leisure Properties, Inc. (GLPI)

Friedberg Investment Management grew its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 50.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,433 shares of the real estate investment trust’s stock after purchasing an additional 11,233 shares during the quarter. Friedberg Investment Management’s holdings in Gaming and Leisure Properties were worth $1,259,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its stake in shares of Gaming and Leisure Properties by 2.8% during the second quarter. Capital Research Global Investors now owns 14,506,957 shares of the real estate investment trust’s stock valued at $546,477,000 after purchasing an additional 400,000 shares during the period. BlackRock Inc. raised its holdings in shares of Gaming and Leisure Properties by 8.5% during the second quarter. BlackRock Inc. now owns 13,614,488 shares of the real estate investment trust’s stock valued at $512,857,000 after acquiring an additional 1,070,254 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Gaming and Leisure Properties by 86.1% during the second quarter. Renaissance Technologies LLC now owns 5,086,489 shares of the real estate investment trust’s stock valued at $191,608,000 after acquiring an additional 2,353,055 shares in the last quarter. Capital World Investors raised its holdings in shares of Gaming and Leisure Properties by 760.4% during the second quarter. Capital World Investors now owns 4,044,000 shares of the real estate investment trust’s stock valued at $152,337,000 after acquiring an additional 3,574,000 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Gaming and Leisure Properties by 0.8% during the second quarter. State Street Corp now owns 3,961,374 shares of the real estate investment trust’s stock valued at $149,222,000 after acquiring an additional 32,998 shares in the last quarter. 89.33% of the stock is owned by hedge funds and other institutional investors.

GLPI has been the subject of a number of recent analyst reports. BidaskClub upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Gaming and Leisure Properties in a report on Friday, July 28th. Stifel Nicolaus restated a “hold” rating and set a $39.00 target price on shares of Gaming and Leisure Properties in a report on Friday, July 28th. 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 report on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Gaming and Leisure Properties presently has a consensus rating of “Hold” and an average price target of $38.80.

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Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) traded down 0.63% during trading on Friday, hitting $36.45. The company had a trading volume of 1,442,408 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 data on Thursday, July 27th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.32). Gaming and Leisure Properties had a net margin of 38.99% and a return on equity of 17.14%. The business had revenue of $243.40 million for the quarter, compared to analysts’ expectations of $243.77 million. During the same quarter in the previous year, the firm earned $0.39 EPS. Gaming and Leisure Properties’s revenue was up 17.4% compared to the same quarter last year. On average, analysts forecast that Gaming and Leisure Properties, Inc. will post $1.80 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were issued a dividend of $0.63 per share. The ex-dividend date was Thursday, September 7th. This represents a $2.52 dividend on an annualized basis and a yield of 6.91%. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.62. Gaming and Leisure Properties’s payout ratio is presently 141.57%.

Gaming and Leisure Properties Profile

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

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