International Assets Investment Management LLC Buys Shares of 50,685 Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

International Assets Investment Management LLC bought a new stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) during the fourth quarter, HoldingsChannel reports. The fund bought 50,685 shares of the real estate investment trust’s stock, valued at approximately $2,501,000.

A number of other large investors have also recently bought and sold shares of the stock. Asset Management One Co. Ltd. grew its holdings in Gaming and Leisure Properties by 3.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 587,011 shares of the real estate investment trust’s stock valued at $29,157,000 after buying an additional 19,185 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Gaming and Leisure Properties by 0.8% during the 4th quarter. Arizona State Retirement System now owns 72,184 shares of the real estate investment trust’s stock worth $3,562,000 after purchasing an additional 608 shares during the period. Trust Point Inc. purchased a new position in shares of Gaming and Leisure Properties during the 4th quarter worth $246,000. State of Michigan Retirement System lifted its stake in shares of Gaming and Leisure Properties by 2.1% during the 4th quarter. State of Michigan Retirement System now owns 64,100 shares of the real estate investment trust’s stock worth $3,163,000 after purchasing an additional 1,300 shares during the period. Finally, Zimmermann Investment Management & Planning LLC purchased a new position in shares of Gaming and Leisure Properties during the 4th quarter worth $203,000. Institutional investors and hedge funds own 91.14% of the company’s stock.

Wall Street Analysts Forecast Growth

GLPI has been the topic of several research reports. Morgan Stanley cut their target price on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. Royal Bank of Canada cut their target price on Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Mizuho cut 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 raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $53.00 target price on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $52.09.

Insider Activity

In other news, Director E Scott Urdang purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was acquired at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the completion of the purchase, the director now owns 156,685 shares of the company’s stock, valued at $7,050,825. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.40% of the company’s stock.

Gaming and Leisure Properties Stock Up 0.8 %

Shares of Gaming and Leisure Properties stock opened at $42.35 on Friday. The business has a 50-day moving average of $45.08 and a 200-day moving average of $45.97. The company has a debt-to-equity ratio of 1.48, a current ratio of 7.41 and a quick ratio of 7.41. The company has a market capitalization of $11.50 billion, a PE ratio of 15.29, a P/E/G ratio of 5.26 and a beta of 0.94. Gaming and Leisure Properties, Inc. has a 1-year low of $41.80 and a 1-year high of $52.45.

Gaming and Leisure Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 annualized dividend and a dividend yield of 7.18%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 109.75%.

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.