Assetmark Inc. Purchases 328 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Assetmark Inc. grew its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 49.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 989 shares of the real estate investment trust’s stock after purchasing an additional 328 shares during the quarter. Assetmark Inc.’s holdings in Gaming and Leisure Properties were worth $50,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its holdings in Gaming and Leisure Properties by 2.5% during the 4th quarter. Toronto Dominion Bank now owns 36,869 shares of the real estate investment trust’s stock worth $1,776,000 after purchasing an additional 905 shares during the last quarter. Perigon Wealth Management LLC bought a new stake in shares of Gaming and Leisure Properties in the 1st quarter valued at $217,000. Envestnet Asset Management Inc. increased its stake in shares of Gaming and Leisure Properties by 2.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 604,875 shares of the real estate investment trust’s stock valued at $30,788,000 after acquiring an additional 16,617 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Gaming and Leisure Properties by 210.9% in the 1st quarter. Farther Finance Advisors LLC now owns 2,083 shares of the real estate investment trust’s stock valued at $106,000 after acquiring an additional 1,413 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in shares of Gaming and Leisure Properties by 2.8% in the 1st quarter. Asset Management One Co. Ltd. now owns 591,741 shares of the real estate investment trust’s stock valued at $30,120,000 after acquiring an additional 16,043 shares in the last quarter. Institutional investors own 91.14% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Scotiabank lowered their price objective on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set a “sector perform” rating for the company in a research note on Monday, May 12th. Macquarie reduced their price target on shares of Gaming and Leisure Properties from $60.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, July 28th. Wells Fargo & Company reduced their price target on shares of Gaming and Leisure Properties from $51.00 to $49.00 and set an “equal weight” rating for the company in a research report on Monday, June 2nd. Barclays lifted their price target on shares of Gaming and Leisure Properties from $54.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, July 21st. Finally, Mizuho reduced their price target on shares of Gaming and Leisure Properties from $53.00 to $48.00 and set a “neutral” rating for the company in a research report on Monday, June 16th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Gaming and Leisure Properties currently has a consensus rating of “Moderate Buy” and an average target price of $53.16.

Gaming and Leisure Properties Price Performance

GLPI opened at $47.08 on Tuesday. The stock has a fifty day simple moving average of $46.90 and a two-hundred day simple moving average of $48.05. The company has a current ratio of 7.39, a quick ratio of 7.39 and a debt-to-equity ratio of 1.41. The company has a market cap of $13.32 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 10.03 and a beta of 0.71. Gaming and Leisure Properties, Inc. has a 12-month low of $44.48 and a 12-month high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Thursday, July 24th. The real estate investment trust reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.01). Gaming and Leisure Properties had a return on equity of 15.43% and a net margin of 46.32%. The company had revenue of $394.90 million during the quarter, compared to analysts’ expectations of $397.27 million. During the same period in the prior year, the company posted $0.94 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Research analysts predict that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 6.6%. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Friday, June 13th. Gaming and Leisure Properties’s payout ratio is 120.93%.

Insider Activity at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 4,000 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $46.58, for a total value of $186,320.00. Following the transaction, the director owned 136,953 shares in the company, valued at $6,379,270.74. This represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.26% of the stock is owned by company insiders.

Gaming and Leisure Properties Profile

Gaming & Leisure Properties, Inc engages in the provision of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.