TD Asset Management Inc Decreases Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

TD Asset Management Inc lowered its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 17.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,871 shares of the real estate investment trust’s stock after selling 11,008 shares during the period. TD Asset Management Inc’s holdings in Gaming and Leisure Properties were worth $2,436,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of GLPI. Ignite Planners LLC raised its stake in Gaming and Leisure Properties by 1.8% during the second quarter. Ignite Planners LLC now owns 12,181 shares of the real estate investment trust’s stock valued at $543,000 after buying an additional 220 shares during the last quarter. Moody National Bank Trust Division increased its holdings in shares of Gaming and Leisure Properties by 1.2% in the 1st quarter. Moody National Bank Trust Division now owns 19,068 shares of the real estate investment trust’s stock worth $878,000 after purchasing an additional 231 shares in the last quarter. Securian Asset Management Inc. increased its holdings in shares of Gaming and Leisure Properties by 1.3% in the 4th quarter. Securian Asset Management Inc. now owns 22,534 shares of the real estate investment trust’s stock worth $1,112,000 after purchasing an additional 289 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Gaming and Leisure Properties by 2.7% in the 1st quarter. Private Advisor Group LLC now owns 11,440 shares of the real estate investment trust’s stock worth $527,000 after purchasing an additional 299 shares in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of Gaming and Leisure Properties by 1.9% in the 4th quarter. Corient Private Wealth LLC now owns 17,844 shares of the real estate investment trust’s stock worth $881,000 after purchasing an additional 327 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. UBS Group lifted their target price on Gaming and Leisure Properties from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Wedbush reissued an “outperform” rating and issued a $51.00 target price on shares of Gaming and Leisure Properties in a report on Friday, May 17th. Raymond James lifted their price objective on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Wells Fargo & Company lifted their price objective on Gaming and Leisure Properties from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, August 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $53.00 price objective on shares of Gaming and Leisure Properties in a report on Friday, June 21st. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and an average price target of $52.11.

Gaming and Leisure Properties Stock Performance

NASDAQ GLPI opened at $52.11 on Friday. The stock has a 50-day simple moving average of $49.54 and a two-hundred day simple moving average of $46.27. The firm has a market capitalization of $14.15 billion, a P/E ratio of 19.23, a PEG ratio of 5.39 and a beta of 0.99. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.80 and a fifty-two week high of $52.60. The company has a debt-to-equity ratio of 1.49, a quick ratio of 5.91 and a current ratio of 5.91.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.15). Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The business had revenue of $380.60 million during the quarter, compared to analysts’ expectations of $377.95 million. During the same quarter in the prior year, the firm earned $0.92 EPS. Gaming and Leisure Properties’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, equities analysts forecast that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 5.83%. The ex-dividend date of this dividend is Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio is currently 112.18%.

Insider Transactions at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 5,605 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the transaction, the director now directly owns 156,685 shares in the company, valued at $7,660,329.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director E Scott Urdang sold 5,605 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $48.89, for a total transaction of $274,028.45. Following the sale, the director now owns 156,685 shares of the company’s stock, valued at $7,660,329.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Desiree A. Burke sold 12,973 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $52.02, for a total value of $674,855.46. Following the sale, the chief financial officer now directly owns 108,073 shares in the company, valued at approximately $5,621,957.46. The disclosure for this sale can be found here. Insiders have sold a total of 49,478 shares of company stock worth $2,495,429 in the last ninety days. Insiders own 4.40% of the company’s stock.

About Gaming and Leisure Properties

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.