APG Asset Management N.V. Purchases 24,200 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

APG Asset Management N.V. grew its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 348.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,142 shares of the real estate investment trust’s stock after purchasing an additional 24,200 shares during the period. APG Asset Management N.V.’s holdings in Gaming and Leisure Properties were worth $1,314,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GLPI. Ignite Planners LLC lifted its position in Gaming and Leisure Properties by 1.8% in the 2nd quarter. Ignite Planners LLC now owns 12,181 shares of the real estate investment trust’s stock worth $543,000 after buying an additional 220 shares during the last quarter. Moody National Bank Trust Division raised its stake in shares of Gaming and Leisure Properties by 1.2% during the first quarter. Moody National Bank Trust Division now owns 19,068 shares of the real estate investment trust’s stock worth $878,000 after acquiring an additional 231 shares in the last quarter. Ieq Capital LLC lifted its holdings in shares of Gaming and Leisure Properties by 0.3% in the 2nd quarter. Ieq Capital LLC now owns 90,749 shares of the real estate investment trust’s stock worth $4,103,000 after acquiring an additional 257 shares during the last quarter. Private Advisor Group LLC boosted its stake 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 valued at $527,000 after purchasing an additional 299 shares in the last quarter. Finally, Corient Private Wealth LLC grew its holdings in shares of Gaming and Leisure Properties by 1.9% during the 4th quarter. Corient Private Wealth LLC now owns 17,844 shares of the real estate investment trust’s stock valued at $881,000 after purchasing an additional 327 shares during the last quarter. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on GLPI shares. Wells Fargo & Company boosted their price target on shares of Gaming and Leisure Properties from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. Raymond James boosted their target price on Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Wolfe Research upgraded Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research report on Friday, August 23rd. Scotiabank boosted their price objective on Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada increased their price objective on Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.11.

Insider Buying and Selling

In related news, Director E Scott Urdang sold 5,605 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Brandon John Moore sold 30,900 shares of Gaming and Leisure Properties stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $50.05, for a total value of $1,546,545.00. Following the completion of the transaction, the chief operating officer now owns 208,977 shares of the company’s stock, valued at approximately $10,459,298.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director E Scott Urdang sold 5,605 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $48.89, for a total transaction of $274,028.45. Following the completion of the transaction, the director now owns 156,685 shares in the company, valued at approximately $7,660,329.65. The disclosure for this sale can be found here. Insiders sold a total of 49,478 shares of company stock worth $2,495,429 in the last three months. 4.40% of the stock is owned by corporate insiders.

Gaming and Leisure Properties Price Performance

GLPI stock opened at $51.45 on Tuesday. The company has a debt-to-equity ratio of 1.49, a current ratio of 5.91 and a quick ratio of 5.91. Gaming and Leisure Properties, Inc. has a 1 year low of $41.80 and a 1 year high of $52.60. The firm has a 50-day moving average of $50.47 and a 200 day moving average of $46.74. The company has a market cap of $13.97 billion, a P/E ratio of 18.99, a PEG ratio of 5.36 and a beta of 0.99.

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

Gaming and Leisure Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date was Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio is presently 112.18%.

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.