Frank Rimerman Advisors LLC Takes $1.22 Million Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Frank Rimerman Advisors LLC acquired a new stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 27,064 shares of the real estate investment trust’s stock, valued at approximately $1,224,000.

Other hedge funds have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of Gaming and Leisure Properties during the 2nd quarter valued at about $31,000. EdgeRock Capital LLC acquired a new position in shares of Gaming and Leisure Properties during the 2nd quarter valued at about $33,000. MCF Advisors LLC grew its holdings in Gaming and Leisure Properties by 416.7% in the 1st quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 600 shares during the last quarter. Versant Capital Management Inc increased its position in Gaming and Leisure Properties by 18,500.0% in the 2nd quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 740 shares during the period. Finally, Mather Group LLC. bought a new position in Gaming and Leisure Properties in the 1st quarter worth approximately $42,000. Institutional investors and hedge funds own 91.14% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on GLPI. Deutsche Bank Aktiengesellschaft lifted their price target on Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada lifted their price target on Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. UBS Group lifted their price target on Gaming and Leisure Properties from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Scotiabank lifted their price target on Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 16th. Finally, Raymond James lifted their price target on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and an average price target of $52.11.

Insiders Place Their Bets

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the transaction, the director now owns 156,685 shares of the company’s stock, valued at $7,660,329.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the transaction, the director now owns 156,685 shares of the company’s stock, valued at $7,660,329.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Desiree A. Burke sold 12,973 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $52.02, for a total value of $674,855.46. Following the sale, the chief financial officer now owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,478 shares of company stock valued at $2,495,429. 4.40% of the stock is currently owned by corporate insiders.

Gaming and Leisure Properties Price Performance

Shares of GLPI stock opened at $50.90 on Monday. The stock’s fifty day simple moving average is $50.20 and its 200 day simple moving average is $46.54. The company has a debt-to-equity ratio of 1.49, a current ratio of 5.91 and a quick ratio of 5.91. The firm has a market cap of $13.82 billion, a price-to-earnings ratio of 18.78, a P/E/G ratio of 5.47 and a beta of 0.99. Gaming and Leisure Properties, Inc. has a one year low of $41.80 and a one year high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.15). The company had revenue of $380.60 million during the quarter, compared to analyst estimates of $377.95 million. Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. Gaming and Leisure Properties’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 EPS. On average, analysts expect 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders 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 5.97%. The ex-dividend date of this dividend is Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio is currently 112.18%.

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.