LPL Financial LLC Raises Stock Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

LPL Financial LLC increased its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 41.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,606 shares of the real estate investment trust’s stock after purchasing an additional 24,948 shares during the period. LPL Financial LLC’s holdings in Gaming and Leisure Properties were worth $4,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of Gaming and Leisure Properties during the first quarter worth $39,000. Tredje AP fonden increased its holdings in Gaming and Leisure Properties by 5.3% in the first quarter. Tredje AP fonden now owns 54,606 shares of the real estate investment trust’s stock valued at $2,843,000 after buying an additional 2,728 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Gaming and Leisure Properties by 2.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 146,285 shares of the real estate investment trust’s stock valued at $7,616,000 after buying an additional 3,366 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Gaming and Leisure Properties by 46.7% in the first quarter. Principal Financial Group Inc. now owns 7,371,766 shares of the real estate investment trust’s stock valued at $383,773,000 after buying an additional 2,347,021 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in Gaming and Leisure Properties by 0.4% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 74,337 shares of the real estate investment trust’s stock valued at $3,870,000 after buying an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on GLPI shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $54.00 price objective on shares of Gaming and Leisure Properties in a report on Wednesday. BNP Paribas started coverage on shares of Gaming and Leisure Properties in a report on Wednesday, June 14th. They issued an “outperform” rating and a $63.00 price objective for the company. StockNews.com started coverage on shares of Gaming and Leisure Properties in a report on Thursday, August 17th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft cut shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating and cut their price objective for the company from $60.00 to $52.00 in a report on Wednesday, July 5th. Finally, UBS Group lifted their target price on shares of Gaming and Leisure Properties from $55.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, August 29th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.80.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director Barry F. Schwartz bought 1,000 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $47.74 per share, for a total transaction of $47,740.00. Following the acquisition, the director now directly owns 53,823 shares of the company’s stock, valued at approximately $2,569,510.02. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Barry F. Schwartz bought 1,000 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $47.74 per share, for a total transaction of $47,740.00. Following the acquisition, the director now directly owns 53,823 shares of the company’s stock, valued at approximately $2,569,510.02. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barry F. Schwartz bought 1,500 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was purchased at an average price of $45.83 per share, for a total transaction of $68,745.00. Following the completion of the acquisition, the director now directly owns 55,323 shares in the company, valued at $2,535,453.09. The disclosure for this purchase can be found here. Insiders have bought 3,500 shares of company stock worth $163,835 in the last ninety days. 4.40% of the stock is owned by insiders.

Gaming and Leisure Properties Stock Performance

GLPI opened at $47.42 on Friday. The firm has a market capitalization of $12.45 billion, a PE ratio of 16.41, a PEG ratio of 4.09 and a beta of 0.98. Gaming and Leisure Properties, Inc. has a twelve month low of $43.46 and a twelve month high of $55.13. The firm’s 50-day moving average price is $47.75 and its 200 day moving average price is $49.65. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.54.

Gaming and Leisure Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 6.16%. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.72. The ex-dividend date is Thursday, September 14th. Gaming and Leisure Properties’s payout ratio is presently 99.65%.

About Gaming and Leisure Properties

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.