Van ECK Associates Corp Acquires 6,052 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Van ECK Associates Corp lifted its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 7.9% during the fourth quarter, Holdings Channel reports. The firm owned 83,098 shares of the real estate investment trust’s stock after acquiring an additional 6,052 shares during the period. Van ECK Associates Corp’s holdings in Gaming and Leisure Properties were worth $4,002,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Creative Planning lifted its stake in Gaming and Leisure Properties by 22.0% in the third quarter. Creative Planning now owns 15,737 shares of the real estate investment trust’s stock valued at $810,000 after purchasing an additional 2,841 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Gaming and Leisure Properties by 46.9% in the 3rd quarter. Raymond James & Associates now owns 580,315 shares of the real estate investment trust’s stock worth $29,857,000 after purchasing an additional 185,348 shares in the last quarter. Signaturefd LLC lifted its stake in Gaming and Leisure Properties by 24.4% in the third quarter. Signaturefd LLC now owns 3,342 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 656 shares during the last quarter. Leo Wealth LLC bought a new position in shares of Gaming and Leisure Properties in the third quarter worth approximately $226,000. Finally, Private Advisor Group LLC increased its stake in shares of Gaming and Leisure Properties by 9.2% during the third quarter. Private Advisor Group LLC now owns 13,646 shares of the real estate investment trust’s stock valued at $702,000 after buying an additional 1,152 shares during the period. 91.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GLPI has been the topic of a number of research reports. StockNews.com cut shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Scotiabank decreased their price objective on Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and lifted their target price for the company from $49.00 to $54.00 in a research note on Wednesday, November 20th. Stifel Nicolaus raised their price objective on Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. upgraded shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $49.00 to $54.00 in a research report on Friday, December 13th. Six 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.93.

Insider Activity

In other Gaming and Leisure Properties news, SVP Matthew Demchyk sold 1,149 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $47.80, for a total value of $54,922.20. Following the sale, the senior vice president now directly owns 91,620 shares of the company’s stock, valued at approximately $4,379,436. This represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brandon John Moore sold 3,982 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $47.84, for a total transaction of $190,498.88. Following the completion of the transaction, the chief operating officer now owns 278,634 shares of the company’s stock, valued at approximately $13,329,850.56. This trade represents a 1.41 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,222 shares of company stock worth $1,624,947. Corporate insiders own 4.37% of the company’s stock.

Gaming and Leisure Properties Stock Performance

Shares of GLPI stock opened at $48.99 on Thursday. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. The firm has a market cap of $13.44 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 1.98 and a beta of 0.99. Gaming and Leisure Properties, Inc. has a 52-week low of $41.80 and a 52-week high of $52.60. The company’s 50 day moving average is $48.16 and its 200 day moving average is $49.76.

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.76 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.04 dividend on an annualized basis and a yield of 6.21%. Gaming and Leisure Properties’s dividend payout ratio is presently 106.29%.

Gaming and Leisure Properties Company Profile

Gaming & Leisure Properties, Inc engages in 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.