TD Asset Management Inc Acquires 26,940 Shares of Gaming and Leisure Properties, Inc. $GLPI

Key Points

• TD Asset Management Inc increased its stake in Gaming and Leisure Properties, Inc. by 35.1%, purchasing an additional 26,940 shares, bringing its total holdings to 103,667 shares valued at approximately $4.84 million.
• Recent research reports saw Barclays upgrade the stock's rating from "equal weight" to "overweight," with a new price target of $54.00, while other analysts set target prices ranging from $51.00 to $50.00 for the stock.
• The company declared a quarterly dividend of $0.78 per share, reflecting an annualized dividend of $3.12 and a dividend yield of 6.9%.

TD Asset Management Inc raised its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 35.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,667 shares of the real estate investment trust's stock after purchasing an additional 26,940 shares during the quarter. TD Asset Management Inc's holdings in Gaming and Leisure Properties were worth $4,839,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Perigon Wealth Management LLC bought a new stake in shares of Gaming and Leisure Properties in the first quarter valued at about $217,000. Envestnet Asset Management Inc. raised its holdings in shares of Gaming and Leisure Properties by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 604,875 shares of the real estate investment trust's stock valued at $30,788,000 after acquiring an additional 16,617 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC raised its holdings in shares of Gaming and Leisure Properties by 407.7% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 110,654 shares of the real estate investment trust's stock valued at $5,632,000 after acquiring an additional 88,858 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Gaming and Leisure Properties by 49.6% in the first quarter. Assetmark Inc. now owns 989 shares of the real estate investment trust's stock valued at $50,000 after acquiring an additional 328 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Gaming and Leisure Properties by 2.8% in the first quarter. Asset Management One Co. Ltd. now owns 591,741 shares of the real estate investment trust's stock valued at $30,120,000 after acquiring an additional 16,043 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GLPI has been the subject of several recent research reports. Barclays upgraded Gaming and Leisure Properties from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $51.00 to $54.00 in a report on Monday. Stifel Nicolaus lowered Gaming and Leisure Properties from a "buy" rating to a "hold" rating and set a $51.25 target price on the stock. in a research note on Monday, July 21st. Scotiabank lifted their target price on Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a "sector perform" rating in a research note on Thursday, August 28th. Mizuho lifted their target price on Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a "neutral" rating in a research note on Thursday, September 11th. Finally, Cantor Fitzgerald initiated coverage on Gaming and Leisure Properties in a research note on Wednesday, October 1st. They issued a "neutral" rating and a $51.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Gaming and Leisure Properties currently has an average rating of "Hold" and an average price target of $52.94.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 3,000 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $46.54, for a total transaction of $139,620.00. Following the sale, the director owned 133,953 shares in the company, valued at approximately $6,234,172.62. The trade was a 2.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.26% of the company's stock.

Gaming and Leisure Properties Price Performance

Shares of GLPI stock opened at $45.11 on Tuesday. Gaming and Leisure Properties, Inc. has a fifty-two week low of $44.21 and a fifty-two week high of $52.27. The firm has a market capitalization of $12.77 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 9.75 and a beta of 0.74. The company has a debt-to-equity ratio of 1.41, a quick ratio of 7.39 and a current ratio of 7.39. The stock's 50-day simple moving average is $46.75 and its 200-day simple moving average is $46.95.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.96 earnings per share for the quarter, missing analysts' consensus estimates of $0.97 by ($0.01). Gaming and Leisure Properties had a return on equity of 15.43% and a net margin of 46.32%.The business had revenue of $394.90 million for the quarter, compared to analysts' expectations of $397.27 million. During the same quarter in the previous year, the firm posted $0.94 EPS. Gaming and Leisure Properties's revenue was up 3.8% on a year-over-year basis. Gaming and Leisure Properties has set its FY 2025 guidance at 3.850-3.87 EPS. As a group, equities analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, September 12th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.9%. Gaming and Leisure Properties's payout ratio is presently 120.93%.

About Gaming and Leisure Properties

Gaming & Leisure Properties, Inc engages in the provision of 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.