DekaBank Deutsche Girozentrale Boosts Stock Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

DekaBank Deutsche Girozentrale raised its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 87,211 shares of the real estate investment trust’s stock after purchasing an additional 4,678 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Gaming and Leisure Properties were worth $4,306,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Atlas Capital Advisors LLC grew its position in Gaming and Leisure Properties by 203.0% in the 1st quarter. Atlas Capital Advisors LLC now owns 512 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 343 shares during the last quarter. Operose Advisors LLC purchased a new stake in shares of Gaming and Leisure Properties in the third quarter valued at about $32,000. Zions Bancorporation N.A. acquired a new position in shares of Gaming and Leisure Properties during the first quarter worth about $43,000. RVW Wealth LLC purchased a new position in Gaming and Leisure Properties during the third quarter worth about $47,000. Finally, Armstrong Advisory Group Inc. lifted its position in Gaming and Leisure Properties by 166.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 1,203 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 751 shares during the period. Institutional investors and hedge funds own 91.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on GLPI shares. Mizuho dropped their target price on Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. JMP Securities restated a “market outperform” rating and set a $53.00 target price on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. Royal Bank of Canada cut their price target on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. downgraded shares of Gaming and Leisure Properties from an “overweight” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a report on Thursday, December 14th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Gaming and Leisure Properties has an average rating of “Moderate Buy” and an average price target of $52.09.

Gaming and Leisure Properties Price Performance

GLPI stock opened at $43.21 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 7.41 and a current ratio of 7.41. The stock’s 50 day moving average price is $45.36 and its 200 day moving average price is $46.08. The firm has a market cap of $11.73 billion, a P/E ratio of 15.60, a PEG ratio of 5.68 and a beta of 0.94. Gaming and Leisure Properties, Inc. has a 1 year low of $43.16 and a 1 year high of $52.45.

Gaming and Leisure Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 7.04%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 109.75%.

Insider Activity at Gaming and Leisure Properties

In other news, Director E Scott Urdang purchased 2,500 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $45.00 per share, with a total value of $112,500.00. Following the purchase, the director now directly owns 156,685 shares of the company’s stock, valued at $7,050,825. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

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.