International Assets Investment Management LLC Invests $2.50 Million in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

International Assets Investment Management LLC acquired a new position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 50,685 shares of the real estate investment trust’s stock, valued at approximately $2,501,000.

Several other institutional investors have also recently modified their holdings of GLPI. Cambridge Investment Research Advisors Inc. grew its holdings in Gaming and Leisure Properties by 23.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,197 shares of the real estate investment trust’s stock worth $760,000 after acquiring an additional 3,049 shares during the period. Bank of Montreal Can grew its holdings in Gaming and Leisure Properties by 46.2% during the first quarter. Bank of Montreal Can now owns 123,317 shares of the real estate investment trust’s stock worth $5,837,000 after acquiring an additional 38,942 shares during the period. MetLife Investment Management LLC acquired a new stake in Gaming and Leisure Properties during the first quarter worth about $219,000. Great West Life Assurance Co. Can grew its holdings in Gaming and Leisure Properties by 41.1% during the first quarter. Great West Life Assurance Co. Can now owns 21,974 shares of the real estate investment trust’s stock worth $1,086,000 after acquiring an additional 6,399 shares during the period. Finally, Yousif Capital Management LLC grew its holdings in Gaming and Leisure Properties by 22.2% during the first quarter. Yousif Capital Management LLC now owns 14,425 shares of the real estate investment trust’s stock worth $677,000 after acquiring an additional 2,620 shares during the period. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director E Scott Urdang bought 2,500 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were acquired at an average price of $45.00 per share, for a total transaction of $112,500.00. Following the completion of the transaction, the director now directly owns 156,685 shares in the company, valued at approximately $7,050,825. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. StockNews.com raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. JMP Securities reissued a “market outperform” rating and issued a $53.00 price objective on shares of Gaming and Leisure Properties in a report on Monday, March 4th. Mizuho dropped their price objective on Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, March 7th. Morgan Stanley dropped their price objective on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. Finally, Royal Bank of Canada dropped their price objective on Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.09.

Gaming and Leisure Properties Stock Performance

NASDAQ GLPI opened at $42.35 on Friday. The company has a market cap of $11.50 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 5.26 and a beta of 0.94. The stock’s 50 day simple moving average is $45.08 and its 200-day simple moving average is $45.97. Gaming and Leisure Properties, Inc. has a 1-year low of $41.80 and a 1-year high of $52.45. The company has a debt-to-equity ratio of 1.48, a current ratio of 7.41 and a quick ratio of 7.41.

Gaming and Leisure Properties Increases Dividend

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