Van ECK Associates Corp Acquires 2,156 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Van ECK Associates Corp lifted its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 82,817 shares of the real estate investment trust’s stock after purchasing an additional 2,156 shares during the period. Van ECK Associates Corp’s holdings in Gaming and Leisure Properties were worth $3,744,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. EdgeRock Capital LLC bought a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth $33,000. MCF Advisors LLC boosted its holdings in Gaming and Leisure Properties by 416.7% in the first quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 600 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Gaming and Leisure Properties by 18,500.0% in the second quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 740 shares during the last quarter. Mather Group LLC. bought a new position in Gaming and Leisure Properties in the first quarter valued at about $42,000. Finally, International Assets Investment Management LLC bought a new position in Gaming and Leisure Properties in the second quarter valued at about $47,000. Institutional investors own 91.14% of the company’s stock.

Insider Buying and Selling

In related news, CFO Desiree A. Burke sold 12,973 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $52.02, for a total value of $674,855.46. Following the completion of the transaction, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at $5,621,957.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Brandon John Moore sold 30,900 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $50.05, for a total value of $1,546,545.00. Following the completion of the transaction, the chief operating officer now directly owns 208,977 shares of the company’s stock, valued at $10,459,298.85. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Desiree A. Burke sold 12,973 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $52.02, for a total transaction of $674,855.46. Following the completion of the transaction, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at $5,621,957.46. The disclosure for this sale can be found here. Insiders sold a total of 49,478 shares of company stock valued at $2,495,429 over the last three months. Corporate insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GLPI shares. Wedbush reiterated an “outperform” rating and issued a $51.00 price target on shares of Gaming and Leisure Properties in a report on Friday, May 17th. Deutsche Bank Aktiengesellschaft raised their price target on Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a report on Monday, July 29th. Wolfe Research upgraded Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a report on Friday, August 23rd. Wells Fargo & Company increased their target price on Gaming and Leisure Properties from $48.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, August 26th. Finally, Raymond James increased their target price on Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.11.

Gaming and Leisure Properties Stock Up 0.7 %

Shares of Gaming and Leisure Properties stock opened at $51.97 on Thursday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 5.91 and a current ratio of 5.91. The firm has a market cap of $14.11 billion, a PE ratio of 19.18, a P/E/G ratio of 5.45 and a beta of 0.98. The business’s 50 day simple moving average is $48.63 and its 200 day simple moving average is $46.00. Gaming and Leisure Properties, Inc. has a 52-week low of $41.80 and a 52-week high of $52.40.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.15). The business had revenue of $380.60 million during the quarter, compared to the consensus estimate of $377.95 million. Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 earnings per share. On average, analysts predict that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date of this dividend is Friday, September 13th. 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.