Van ECK Associates Corp Purchases 6,052 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Van ECK Associates Corp grew its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 83,098 shares of the real estate investment trust's stock after purchasing an additional 6,052 shares during the period. Van ECK Associates Corp's holdings in Gaming and Leisure Properties were worth $4,002,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new stake in Gaming and Leisure Properties in the fourth quarter worth $31,000. Summit Trail Advisors LLC acquired a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth $234,000. Opal Wealth Advisors LLC raised its holdings in shares of Gaming and Leisure Properties by 4.9% during the fourth quarter. Opal Wealth Advisors LLC now owns 5,082 shares of the real estate investment trust's stock worth $245,000 after acquiring an additional 238 shares during the period. Kestra Private Wealth Services LLC raised its holdings in shares of Gaming and Leisure Properties by 35.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 26,130 shares of the real estate investment trust's stock worth $1,258,000 after acquiring an additional 6,896 shares during the period. Finally, Lecap Asset Management Ltd. raised its holdings in shares of Gaming and Leisure Properties by 32.0% during the fourth quarter. Lecap Asset Management Ltd. now owns 26,105 shares of the real estate investment trust's stock worth $1,257,000 after acquiring an additional 6,333 shares during the period. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Gaming and Leisure Properties Stock Performance

NASDAQ GLPI traded down $0.28 during trading on Friday, reaching $49.11. The company's stock had a trading volume of 2,111,103 shares, compared to its average volume of 875,898. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $13.47 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 2.01 and a beta of 0.99. Gaming and Leisure Properties, Inc. has a 12 month low of $41.80 and a 12 month high of $52.60. The firm has a 50 day moving average price of $48.14 and a 200 day moving average price of $49.77.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.01. The firm had revenue of $389.62 million during the quarter, compared to the consensus estimate of $391.54 million. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. As a group, equities analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 6.19%. The ex-dividend date of this dividend is Friday, March 14th. Gaming and Leisure Properties's payout ratio is presently 105.92%.

Insider Activity

In related news, SVP Matthew Demchyk sold 1,149 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $47.80, for a total transaction of $54,922.20. Following the completion of the transaction, the senior vice president now directly owns 91,620 shares in the company, valued at $4,379,436. This represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brandon John Moore sold 3,982 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $47.84, for a total transaction of $190,498.88. Following the transaction, the chief operating officer now owns 278,634 shares of the company's stock, valued at approximately $13,329,850.56. This represents a 1.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,222 shares of company stock worth $1,624,947. 4.37% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Mizuho decreased their price objective on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a "neutral" rating for the company in a research report on Thursday, November 14th. JPMorgan Chase & Co. raised shares of Gaming and Leisure Properties from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $49.00 to $54.00 in a research report on Friday, December 13th. Morgan Stanley downgraded shares of Gaming and Leisure Properties from an "overweight" rating to an "equal weight" rating and set a $53.00 price objective for the company. in a research report on Wednesday, January 15th. Finally, JMP Securities reissued a "market outperform" rating and issued a $55.00 price objective on shares of Gaming and Leisure Properties in a research report on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $53.93.

Gaming and Leisure Properties Profile

Gaming & Leisure Properties, Inc engages in acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.