Lazard Asset Management LLC Boosts Stock Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Lazard Asset Management LLC boosted its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 239,225 shares of the real estate investment trust’s stock after purchasing an additional 11,387 shares during the period. Lazard Asset Management LLC’s holdings in Gaming and Leisure Properties were worth $11,020,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Moody National Bank Trust Division raised its position in Gaming and Leisure Properties by 1.2% in the first quarter. Moody National Bank Trust Division now owns 19,068 shares of the real estate investment trust’s stock worth $878,000 after acquiring an additional 231 shares during the period. Securian Asset Management Inc. raised its position in shares of Gaming and Leisure Properties by 1.3% during the 4th quarter. Securian Asset Management Inc. now owns 22,534 shares of the real estate investment trust’s stock valued at $1,112,000 after purchasing an additional 289 shares during the period. Private Advisor Group LLC raised its position in shares of Gaming and Leisure Properties by 2.7% during the 1st quarter. Private Advisor Group LLC now owns 11,440 shares of the real estate investment trust’s stock valued at $527,000 after purchasing an additional 299 shares during the period. Corient Private Wealth LLC raised its position in shares of Gaming and Leisure Properties by 1.9% during the 4th quarter. Corient Private Wealth LLC now owns 17,844 shares of the real estate investment trust’s stock valued at $881,000 after purchasing an additional 327 shares during the period. Finally, Woodward Diversified Capital LLC raised its position in shares of Gaming and Leisure Properties by 6.1% during the 1st quarter. Woodward Diversified Capital LLC now owns 6,077 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 351 shares during the period. 91.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GLPI has been the subject of several research analyst reports. Wells Fargo & Company cut their target price on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set an “equal weight” rating for the company in a research note on Thursday, May 30th. UBS Group raised their target price on shares of Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $53.00 target price on shares of Gaming and Leisure Properties in a research note on Friday, June 21st. Mizuho cut their target price on shares of Gaming and Leisure Properties from $47.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Finally, Wedbush reaffirmed an “outperform” rating and set a $51.00 target price on shares of Gaming and Leisure Properties in a research note on Friday, May 17th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and a consensus target price of $51.41.

Gaming and Leisure Properties Trading Up 1.0 %

GLPI traded up $0.47 on Friday, reaching $49.45. 1,425,927 shares of the company traded hands, compared to its average volume of 1,341,977. Gaming and Leisure Properties, Inc. has a one year low of $41.80 and a one year high of $49.99. The firm has a fifty day simple moving average of $45.43 and a two-hundred day simple moving average of $45.20. The company has a market cap of $13.43 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 5.82 and a beta of 0.98. The company has a quick ratio of 6.47, a current ratio of 6.47 and a debt-to-equity ratio of 1.49.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.15). Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.66%. The business had revenue of $380.60 million during the quarter, compared to the consensus estimate of $377.95 million. During the same quarter in the prior year, the firm posted $0.92 EPS. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, equities research analysts expect that Gaming and Leisure Properties, Inc. will post 3.66 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date of this dividend was Friday, June 7th. Gaming and Leisure Properties’s payout ratio is currently 112.18%.

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.