Gaming and Leisure Properties Inc (NASDAQ:GLPI) Sees Large Growth in Short Interest

Gaming and Leisure Properties Inc (NASDAQ:GLPI) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 1,920,000 shares, a growth of 29.7% from the September 30th total of 1,480,000 shares. Based on an average trading volume of 831,300 shares, the short-interest ratio is currently 2.3 days. Approximately 1.0% of the company’s shares are sold short.

In other Gaming and Leisure Properties news, SVP Matthew Demchyk purchased 2,500 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was purchased at an average price of $42.00 per share, with a total value of $105,000.00. Following the completion of the purchase, the senior vice president now owns 50,000 shares of the company’s stock, valued at $2,100,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have bought 12,500 shares of company stock valued at $499,850 in the last ninety days. Insiders own 6.05% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. United Capital Financial Advisers LLC lifted its position in shares of Gaming and Leisure Properties by 0.9% during the second quarter. United Capital Financial Advisers LLC now owns 36,006 shares of the real estate investment trust’s stock valued at $1,404,000 after purchasing an additional 338 shares in the last quarter. Advisor Group Inc. raised its position in Gaming and Leisure Properties by 8.4% in the second quarter. Advisor Group Inc. now owns 4,781 shares of the real estate investment trust’s stock worth $187,000 after acquiring an additional 370 shares during the period. ETRADE Capital Management LLC raised its position in Gaming and Leisure Properties by 2.1% in the second quarter. ETRADE Capital Management LLC now owns 30,420 shares of the real estate investment trust’s stock worth $1,186,000 after acquiring an additional 640 shares during the period. Schnieders Capital Management LLC raised its position in Gaming and Leisure Properties by 9.0% in the second quarter. Schnieders Capital Management LLC now owns 7,850 shares of the real estate investment trust’s stock worth $306,000 after acquiring an additional 650 shares during the period. Finally, Brasada Capital Management LP raised its position in Gaming and Leisure Properties by 2.7% in the third quarter. Brasada Capital Management LP now owns 27,245 shares of the real estate investment trust’s stock worth $1,042,000 after acquiring an additional 721 shares during the period. 84.85% of the stock is currently owned by institutional investors.

Shares of GLPI traded up $0.29 during trading hours on Friday, hitting $42.62. 585,300 shares of the stock were exchanged, compared to its average volume of 753,992. Gaming and Leisure Properties has a fifty-two week low of $31.19 and a fifty-two week high of $42.85. The firm has a market capitalization of $9.12 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 1.28 and a beta of 0.52. The business has a 50-day moving average of $39.62 and a 200-day moving average of $39.15. The company has a debt-to-equity ratio of 2.82, a current ratio of 3.24 and a quick ratio of 3.24.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.41). Gaming and Leisure Properties had a net margin of 27.62% and a return on equity of 14.76%. The firm had revenue of $287.61 million for the quarter, compared to the consensus estimate of $288.09 million. During the same period in the previous year, the business earned $0.76 earnings per share. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. As a group, analysts forecast that Gaming and Leisure Properties will post 3.36 earnings per share for the current fiscal year.

Several research firms have recently issued reports on GLPI. ValuEngine downgraded shares of Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Nomura set a $42.00 price target on shares of Gaming and Leisure Properties and gave the company a “hold” rating in a research note on Wednesday, August 7th. Scotiabank began coverage on shares of Gaming and Leisure Properties in a research note on Monday, July 29th. They set an “outperform” rating for the company. Deutsche Bank set a $46.00 price target on shares of Gaming and Leisure Properties and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Zacks Investment Research raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $43.67.

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.

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