Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Purchased by Assetmark Inc.

Assetmark Inc. raised its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2,547.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 556 shares of the real estate investment trust’s stock after purchasing an additional 535 shares during the quarter. Assetmark Inc.’s holdings in Gaming and Leisure Properties were worth $29,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in 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 valued at $34,000 after buying an additional 384 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Gaming and Leisure Properties during the 2nd quarter valued at about $31,000. EverSource Wealth Advisors LLC boosted its position in shares of Gaming and Leisure Properties by 578.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 590 shares in the last quarter. EdgeRock Capital LLC acquired a new position in shares of Gaming and Leisure Properties in the 2nd quarter worth approximately $33,000. Finally, Versant Capital Management Inc raised its holdings in shares of 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 purchasing an additional 740 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 12,973 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $52.02, for a total value of $674,855.46. Following the completion of the sale, the chief financial officer now owns 108,073 shares of the company’s stock, valued at $5,621,957.46. The trade was a 10.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the chief operating officer now directly owns 208,977 shares in the company, valued at approximately $10,459,298.85. This represents a 12.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,758 shares of company stock valued at $2,717,922. 4.37% of the stock is owned by corporate insiders.

Gaming and Leisure Properties Stock Performance

Shares of GLPI opened at $50.25 on Wednesday. Gaming and Leisure Properties, Inc. has a 52 week low of $41.80 and a 52 week high of $52.60. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. The company has a market capitalization of $13.79 billion, a PE ratio of 17.57, a PEG ratio of 2.12 and a beta of 0.99. The company’s 50 day moving average price is $50.64 and its 200 day moving average price is $48.32.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). The company had revenue of $385.34 million during the quarter, compared to analyst estimates 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 was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $0.92 earnings per share. Research analysts expect that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.76 per share. The ex-dividend date was Friday, September 13th. This represents a $3.04 annualized dividend and a dividend yield of 6.05%. Gaming and Leisure Properties’s dividend payout ratio is 106.29%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Mizuho reduced their target price on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Wells Fargo & Company restated an “equal weight” rating and issued a $52.00 target price (up from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Wolfe Research raised Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 target price for the company in a report on Friday, August 23rd. 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 note on Monday, July 29th. Finally, Stifel Nicolaus upped their price objective on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a “buy” rating in a research note on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and a consensus target price of $52.54.

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.