TD Asset Management Inc Has $3.91 Million Stock Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Key Points

• TD Asset Management Inc increased its stake in Gaming and Leisure Properties, acquiring an additional 8,079 shares and boosting its ownership by 11.8%, totaling 76,727 shares valued at approximately $3.9 million.
• The company recently increased its quarterly dividend to $0.78 per share, reflecting an annualized dividend of $3.12 and a yield of 6.8%, up from the previous $0.76.
• Gaming and Leisure Properties reported earnings per share of $0.96 for the last quarter, falling slightly short of analyst estimates while showing a year-over-year revenue growth of 3.8%.

TD Asset Management Inc grew its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 11.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 76,727 shares of the real estate investment trust's stock after purchasing an additional 8,079 shares during the period. TD Asset Management Inc's holdings in Gaming and Leisure Properties were worth $3,905,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GLPI. Alpine Bank Wealth Management bought a new position in Gaming and Leisure Properties during the 1st quarter worth $26,000. Private Trust Co. NA acquired a new stake in shares of Gaming and Leisure Properties in the 1st quarter worth about $28,000. TD Private Client Wealth LLC lifted its position in Gaming and Leisure Properties by 64.2% in the 1st quarter. TD Private Client Wealth LLC now owns 545 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 213 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Gaming and Leisure Properties during the 1st quarter valued at about $33,000. Finally, Cullen Frost Bankers Inc. grew its position in Gaming and Leisure Properties by 1,872.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 651 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 618 shares during the last quarter. 91.14% of the stock is currently owned by institutional investors.

Insider Activity at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 4,000 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $46.58, for a total value of $186,320.00. Following the transaction, the director directly owned 136,953 shares of the company's stock, valued at approximately $6,379,270.74. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.26% of the stock is currently owned by corporate insiders.

Gaming and Leisure Properties Stock Down 1.1%

Shares of GLPI traded down $0.49 during mid-day trading on Wednesday, reaching $46.04. The company's stock had a trading volume of 448,284 shares, compared to its average volume of 1,461,131. Gaming and Leisure Properties, Inc. has a 1 year low of $44.48 and a 1 year high of $52.60. The company has a quick ratio of 7.39, a current ratio of 7.39 and a debt-to-equity ratio of 1.41. The company has a market cap of $13.03 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 10.23 and a beta of 0.71. The business has a fifty day moving average of $46.90 and a 200 day moving average of $48.04.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last issued its 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). The business had revenue of $394.90 million during the quarter, compared to analyst estimates of $397.27 million. Gaming and Leisure Properties had a net margin of 46.32% and a return on equity of 15.43%. Gaming and Leisure Properties's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. As a group, analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a dividend of $0.78 per share. The ex-dividend date was Friday, June 13th. This represents a $3.12 annualized dividend and a dividend yield of 6.8%. This is an increase from Gaming and Leisure Properties's previous quarterly dividend of $0.76. Gaming and Leisure Properties's dividend payout ratio is presently 120.93%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GLPI. Wedbush set a $55.00 price objective on Gaming and Leisure Properties in a research report on Monday, April 28th. Barclays increased their price target on Gaming and Leisure Properties from $54.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Stifel Nicolaus cut shares of Gaming and Leisure Properties from a "buy" rating to a "hold" rating and set a $51.25 price objective on the stock. in a research note on Monday, July 21st. Wells Fargo & Company lowered their target price on shares of Gaming and Leisure Properties from $51.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Monday, June 2nd. Finally, Macquarie decreased their price objective on shares of Gaming and Leisure Properties from $60.00 to $59.00 and set an "outperform" rating for the company in a report on Monday, July 28th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $53.16.

Gaming and Leisure Properties Profile

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.