Frank Rimerman Advisors LLC Acquires 8,689 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Frank Rimerman Advisors LLC increased its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 31.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,895 shares of the real estate investment trust’s stock after purchasing an additional 8,689 shares during the period. Frank Rimerman Advisors LLC’s holdings in Gaming and Leisure Properties were worth $1,729,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of GLPI. Farther Finance Advisors LLC boosted its holdings in Gaming and Leisure Properties by 142.2% in the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 384 shares in the last quarter. Assetmark Inc. lifted its position in Gaming and Leisure Properties by 2,547.6% during the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 535 shares during the last quarter. Atria Investments Inc lifted its position in Gaming and Leisure Properties by 16.0% during the 3rd quarter. Atria Investments Inc now owns 19,668 shares of the real estate investment trust’s stock worth $1,012,000 after acquiring an additional 2,710 shares during the last quarter. Victory Capital Management Inc. lifted its position in Gaming and Leisure Properties by 0.6% during the 3rd quarter. Victory Capital Management Inc. now owns 798,922 shares of the real estate investment trust’s stock worth $41,105,000 after acquiring an additional 5,037 shares during the last quarter. Finally, KBC Group NV lifted its position in Gaming and Leisure Properties by 162.8% during the 3rd quarter. KBC Group NV now owns 97,643 shares of the real estate investment trust’s stock worth $5,024,000 after acquiring an additional 60,489 shares during the last quarter. 91.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Gaming and Leisure Properties news, SVP Matthew Demchyk sold 1,138 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $50.45, for a total transaction of $57,412.10. Following the sale, the senior vice president now directly owns 53,002 shares of the company’s stock, valued at approximately $2,673,950.90. This represents a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brandon John Moore sold 3,982 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $47.84, for a total transaction of $190,498.88. Following the sale, the chief operating officer now directly owns 278,634 shares in the company, valued at $13,329,850.56. This represents a 1.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,064 shares of company stock valued at $2,778,908. 4.37% of the stock is currently owned by insiders.

Gaming and Leisure Properties Stock Performance

NASDAQ:GLPI opened at $49.78 on Friday. Gaming and Leisure Properties, Inc. has a 12-month low of $41.80 and a 12-month high of $52.60. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $13.68 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00. The firm has a 50-day moving average price of $48.71 and a 200 day moving average price of $49.81.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.01. The firm had revenue of $389.62 million during the quarter, compared to analyst estimates of $391.54 million. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. Research analysts anticipate 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.04 annualized dividend and a yield of 6.11%. Gaming and Leisure Properties’s dividend payout ratio is 105.92%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GLPI shares. JMP Securities reissued a “market outperform” rating and set a $55.00 target price on shares of Gaming and Leisure Properties in a research report on Wednesday, December 18th. JPMorgan Chase & Co. raised shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $49.00 to $54.00 in a research report on Friday, December 13th. Stifel Nicolaus boosted their target price on shares of Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Scotiabank cut their target price on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. Finally, Wells Fargo & Company upped their price objective on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.96.

Gaming and Leisure Properties Company 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.