CIBC Asset Management Inc Purchases 278 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

CIBC Asset Management Inc grew its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,948 shares of the real estate investment trust’s stock after purchasing an additional 278 shares during the quarter. CIBC Asset Management Inc’s holdings in Gaming and Leisure Properties were worth $409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Ignite Planners LLC boosted its position in shares of Gaming and Leisure Properties by 1.8% during the second quarter. Ignite Planners LLC now owns 12,181 shares of the real estate investment trust’s stock worth $543,000 after acquiring an additional 220 shares during the last quarter. EP Wealth Advisors LLC lifted its position in Gaming and Leisure Properties by 0.7% during the second quarter. EP Wealth Advisors LLC now owns 33,990 shares of the real estate investment trust’s stock valued at $1,537,000 after purchasing an additional 220 shares during the last quarter. Ieq Capital LLC lifted its position in Gaming and Leisure Properties by 0.3% during the second quarter. Ieq Capital LLC now owns 90,749 shares of the real estate investment trust’s stock valued at $4,103,000 after purchasing an additional 257 shares during the last quarter. Marshall Financial Group LLC lifted its position in Gaming and Leisure Properties by 1.4% during the third quarter. Marshall Financial Group LLC now owns 20,917 shares of the real estate investment trust’s stock valued at $1,076,000 after purchasing an additional 289 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in Gaming and Leisure Properties by 0.5% during the second quarter. Cetera Investment Advisers now owns 54,803 shares of the real estate investment trust’s stock valued at $2,478,000 after purchasing an additional 299 shares during the last quarter. 91.14% of the stock is currently owned by institutional investors.

Insider Activity

In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 12,973 shares of the 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 completion of the transaction, the chief financial officer now owns 108,073 shares in the company, valued at approximately $5,621,957.46. This represents a 10.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director E Scott Urdang sold 3,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $50.39, for a total value of $151,170.00. Following the completion of the transaction, the director now owns 146,800 shares of the company’s stock, valued at $7,397,252. The trade was a 2.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,858 shares of company stock valued at $1,171,377. 4.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GLPI shares. JMP Securities reiterated a “market outperform” rating and set a $55.00 price objective on shares of Gaming and Leisure Properties in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and increased their price objective for the company from $49.00 to $54.00 in a research report on Wednesday. Wolfe Research raised shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research note on Friday, August 23rd. Stifel Nicolaus increased their target price 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, Wells Fargo & Company reissued an “equal weight” rating and issued a $52.00 target price (up previously from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.96.

Gaming and Leisure Properties Stock Up 0.2 %

GLPI stock opened at $50.65 on Friday. The company’s 50 day moving average price is $50.58 and its 200 day moving average price is $48.35. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.80 and a fifty-two week high of $52.60. The firm has a market capitalization of $13.90 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 2.16 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.25). The company had revenue of $385.34 million during the quarter, compared to analysts’ expectations of $385.09 million. Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 earnings per share. On average, equities research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 6.00%. The ex-dividend date of this dividend was Friday, September 13th. Gaming and Leisure Properties’s payout ratio is currently 106.29%.

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.