BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 20,111 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 63.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,991 shares of the real estate investment trust’s stock after purchasing an additional 20,111 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Gaming and Leisure Properties were worth $2,351,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GLPI. Ashton Thomas Private Wealth LLC bought a new stake in shares of Gaming and Leisure Properties in the 2nd quarter valued at about $31,000. EdgeRock Capital LLC bought a new stake in Gaming and Leisure Properties in the second quarter valued at approximately $33,000. MCF Advisors LLC raised 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 worth $34,000 after purchasing an additional 600 shares during the period. Versant Capital Management Inc boosted its position in shares of Gaming and Leisure Properties by 18,500.0% during the second 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. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Gaming and Leisure Properties by 578.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 590 shares during the period. Institutional investors and hedge funds own 91.14% of the company’s stock.

Insider Activity

In other news, CFO Desiree A. Burke sold 12,973 shares of the company’s 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 sale, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 12,973 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $52.02, for a total transaction of $674,855.46. Following the transaction, the chief financial officer now owns 108,073 shares of the company’s stock, valued at $5,621,957.46. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Brandon John Moore sold 30,900 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 208,977 shares of the company’s stock, valued at $10,459,298.85. 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 in the last quarter. Company insiders own 4.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on GLPI. Wells Fargo & Company raised their price objective on Gaming and Leisure Properties from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. UBS Group lifted their price objective on Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. 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 research note on Friday, August 23rd. Stifel Nicolaus lifted their price target 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. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of 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. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $52.11.

Gaming and Leisure Properties Stock Performance

GLPI opened at $50.75 on Friday. The business’s 50-day simple moving average is $50.41 and its 200 day simple moving average is $46.70. 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 1.49, a quick ratio of 5.91 and a current ratio of 5.91. The firm has a market capitalization of $13.78 billion, a PE ratio of 18.73, a PEG ratio of 5.36 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The company had revenue of $380.60 million for the quarter, compared to the consensus estimate of $377.95 million. During the same quarter in the prior year, the company earned $0.92 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, sell-side 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 company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date of this dividend was Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 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.