Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 9.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,605 shares of the real estate investment trust’s stock after purchasing an additional 5,989 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Gaming and Leisure Properties were worth $3,287,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in GLPI. Operose Advisors LLC bought a new stake in Gaming and Leisure Properties in the third quarter valued at $32,000. Armstrong Advisory Group Inc. lifted its stake in Gaming and Leisure Properties by 166.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 1,203 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 751 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in Gaming and Leisure Properties in the third quarter valued at $79,000. CWM LLC lifted its stake in Gaming and Leisure Properties by 38.7% in the third quarter. CWM LLC now owns 1,954 shares of the real estate investment trust’s stock valued at $89,000 after buying an additional 545 shares during the last quarter. Finally, Rocky Mountain Advisers LLC bought a new stake in Gaming and Leisure Properties in the fourth quarter valued at $103,000. Institutional investors and hedge funds own 91.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GLPI. Morgan Stanley cut their target price on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Thursday, March 21st. Mizuho cut their target price on Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, March 7th. StockNews.com upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Royal Bank of Canada cut their price objective on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Finally, JMP Securities restated a “market outperform” rating and set a $53.00 price objective on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Gaming and Leisure Properties has an average rating of “Moderate Buy” and an average target price of $52.09.

Insider Buying and Selling

In related news, Director E Scott Urdang purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average price of $45.00 per share, with a total value of $112,500.00. Following the purchase, the director now owns 156,685 shares of the company’s stock, valued at approximately $7,050,825. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.40% of the stock is currently owned by company insiders.

Gaming and Leisure Properties Trading Up 1.3 %

Shares of GLPI opened at $43.54 on Wednesday. The business’s 50-day moving average price is $44.95 and its 200 day moving average price is $45.94. The stock has a market capitalization of $11.82 billion, a P/E ratio of 15.72, a P/E/G ratio of 5.37 and a beta of 0.94. Gaming and Leisure Properties, Inc. has a 1-year low of $41.80 and a 1-year high of $52.31. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.48.

Gaming and Leisure Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.76 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.04 dividend on an annualized basis and a yield of 6.98%. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 109.75%.

Gaming and Leisure Properties 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.