iA Global Asset Management Inc. Makes New Investment in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

iA Global Asset Management Inc. purchased a new position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,983 shares of the real estate investment trust’s stock, valued at approximately $180,000.

Other hedge funds have also recently added to or reduced their stakes in the company. EdgeRock Capital LLC bought a new position in Gaming and Leisure Properties during the 4th quarter worth approximately $33,000. MCF Advisors LLC raised its holdings in Gaming and Leisure Properties by 416.7% during the 1st quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 600 shares during the last quarter. Versant Capital Management Inc raised its holdings in Gaming and Leisure Properties by 18,500.0% during 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 during the last quarter. Mather Group LLC. bought a new position in Gaming and Leisure Properties during the 1st quarter worth approximately $42,000. Finally, Larson Financial Group LLC raised its holdings in Gaming and Leisure Properties by 1,587.3% during the 1st quarter. Larson Financial Group LLC now owns 1,063 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 91.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. StockNews.com upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Friday, July 19th. Royal Bank of Canada raised their price objective on shares of 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. Stifel Nicolaus raised their price objective on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a “buy” rating in a research report on Friday, July 26th. Mizuho reduced their price objective on shares of Gaming and Leisure Properties from $47.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Finally, JMP Securities raised their price objective on shares of Gaming and Leisure Properties from $53.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.11.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, COO Brandon John Moore sold 30,900 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $50.05, for a total transaction 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. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Brandon John Moore sold 30,900 shares of Gaming and Leisure Properties stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the sale, the chief operating officer now directly owns 208,977 shares in the company, valued at approximately $10,459,298.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director E Scott Urdang sold 5,605 shares of Gaming and Leisure Properties 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 sale, the director now owns 156,685 shares in the company, valued at $7,660,329.65. The disclosure for this sale can be found here. Company insiders own 4.40% of the company’s stock.

Gaming and Leisure Properties Stock Performance

NASDAQ GLPI opened at $52.02 on Friday. The company has a fifty day simple moving average of $48.16 and a 200 day simple moving average of $45.86. Gaming and Leisure Properties, Inc. has a 12-month low of $41.80 and a 12-month high of $52.13. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49. The company has a market cap of $14.12 billion, a P/E ratio of 19.20, a PEG ratio of 5.14 and a beta of 0.98.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data 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). Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The company had revenue of $380.60 million for the quarter, compared to the consensus estimate of $377.95 million. During the same quarter last year, the business posted $0.92 earnings per share. Gaming and Leisure Properties’s revenue was up 6.7% on a year-over-year basis. Sell-side 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 disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 5.84%. The ex-dividend date of this dividend is Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 112.18%.

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.