iA Global Asset Management Inc. Acquires 726 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

iA Global Asset Management Inc. raised its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 18.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,709 shares of the real estate investment trust’s stock after acquiring an additional 726 shares during the period. iA Global Asset Management Inc.’s holdings in Gaming and Leisure Properties were worth $242,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Assetmark Inc. grew its position in shares of Gaming and Leisure Properties by 2,547.6% in the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 535 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Gaming and Leisure Properties in the second quarter valued at approximately $31,000. EdgeRock Capital LLC acquired a new position in shares of Gaming and Leisure Properties in the second quarter valued at approximately $33,000. Farther Finance Advisors LLC increased its position in shares of Gaming and Leisure Properties by 142.2% during the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 384 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Gaming and Leisure Properties by 578.4% during the second quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 590 shares during the period. 91.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $55.00 target price on shares of Gaming and Leisure Properties in a research note on Tuesday, October 29th. Raymond James increased their price objective on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and boosted their target price for the company from $49.00 to $54.00 in a research note on Wednesday, November 20th. Mizuho decreased their price target on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Finally, StockNews.com lowered shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $53.50.

Gaming and Leisure Properties Stock Performance

Shares of GLPI opened at $49.74 on Wednesday. The company has a market cap of $13.65 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98. The firm has a 50-day moving average of $50.57 and a 200-day moving average of $48.95. Gaming and Leisure Properties, Inc. has a one year low of $41.80 and a one year high of $52.60. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). The business had revenue of $385.34 million for the quarter, compared to the consensus estimate of $385.09 million. Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 EPS. As a group, equities analysts forecast that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 6.11%. The ex-dividend date is Friday, December 6th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 106.29%.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $50.39, for a total transaction of $151,170.00. Following the completion of the sale, the director now directly owns 146,800 shares in the company, valued at $7,397,252. This trade represents a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.37% of the company’s stock.

Gaming and Leisure Properties 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.