Investors Buy High Volume of Gaming and Leisure Properties Call Options (GLPI)

Gaming and Leisure Properties Inc (NASDAQ:GLPI) was the recipient of some unusual options trading on Tuesday. Stock investors bought 1,242 call options on the stock. This is an increase of 1,903% compared to the average daily volume of 62 call options.

In related news, SVP Matthew Demchyk purchased 1,000 shares of Gaming and Leisure Properties stock in a transaction that occurred on Wednesday, February 20th. The stock was purchased at an average cost of $36.49 per share, with a total value of $36,490.00. Following the completion of the transaction, the senior vice president now owns 33,500 shares of the company’s stock, valued at approximately $1,222,415. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Desiree A. Burke sold 41,458 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $39.06, for a total value of $1,619,349.48. Following the transaction, the chief accounting officer now directly owns 119,264 shares of the company’s stock, valued at $4,658,451.84. The disclosure for this sale can be found here. Corporate insiders own 5.88% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLPI. PGGM Investments acquired a new stake in shares of Gaming and Leisure Properties in the fourth quarter valued at approximately $144,296,000. Daiwa Securities Group Inc. increased its stake in shares of Gaming and Leisure Properties by 10,312.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,123,782 shares of the real estate investment trust’s stock worth $100,930,000 after purchasing an additional 3,093,782 shares during the period. Cohen & Steers Inc. increased its stake in shares of Gaming and Leisure Properties by 434.2% during the fourth quarter. Cohen & Steers Inc. now owns 3,791,853 shares of the real estate investment trust’s stock worth $122,515,000 after purchasing an additional 3,082,056 shares during the period. Vanguard Group Inc increased its stake in shares of Gaming and Leisure Properties by 9.1% during the third quarter. Vanguard Group Inc now owns 30,677,165 shares of the real estate investment trust’s stock worth $1,081,370,000 after purchasing an additional 2,553,357 shares during the period. Finally, Norges Bank bought a new position in shares of Gaming and Leisure Properties during the fourth quarter worth approximately $59,288,000. 88.22% of the stock is owned by institutional investors.

GLPI opened at $39.65 on Wednesday. Gaming and Leisure Properties has a 12-month low of $31.19 and a 12-month high of $39.99. The company has a market capitalization of $8.54 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.43 and a beta of 0.55. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 2.58.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings data on Wednesday, February 13th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.02. Gaming and Leisure Properties had a return on equity of 14.42% and a net margin of 32.16%. The company had revenue of $303.30 million during the quarter, compared to analysts’ expectations of $306.12 million. During the same period last year, the firm posted $0.55 earnings per share. The business’s revenue was up 26.0% on a year-over-year basis. As a group, equities research analysts anticipate that Gaming and Leisure Properties will post 3.36 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $0.68 dividend. The ex-dividend date was Thursday, March 7th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 6.86%. Gaming and Leisure Properties’s payout ratio is 85.53%.

Several research analysts recently commented on GLPI shares. Zacks Investment Research raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Friday, January 25th. BidaskClub raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Friday, January 25th. Credit Suisse Group reissued an “outperform” rating and set a $41.00 price target on shares of Gaming and Leisure Properties in a research report on Wednesday, March 20th. Finally, Stifel Nicolaus raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and increased their price target for the company from $39.00 to $43.00 in a research report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Gaming and Leisure Properties has a consensus rating of “Buy” and an average target price of $40.18.

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Gaming and Leisure Properties Company Profile

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.

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