Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Bought by Toronto Dominion Bank

Toronto Dominion Bank grew its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 29.4% in the third quarter, Holdings Channel reports. The fund owned 35,964 shares of the real estate investment trust’s stock after purchasing an additional 8,164 shares during the period. Toronto Dominion Bank’s holdings in Gaming and Leisure Properties were worth $1,850,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its position in Gaming and Leisure Properties by 76.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 10,658 shares of the real estate investment trust’s stock worth $482,000 after purchasing an additional 4,624 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Gaming and Leisure Properties by 4.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 18,436 shares of the real estate investment trust’s stock worth $833,000 after buying an additional 857 shares during the last quarter. Raymond James & Associates lifted its holdings in Gaming and Leisure Properties by 14.9% in the second quarter. Raymond James & Associates now owns 394,967 shares of the real estate investment trust’s stock valued at $17,856,000 after acquiring an additional 51,071 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in Gaming and Leisure Properties by 0.4% in the second quarter. New York State Teachers Retirement System now owns 207,577 shares of the real estate investment trust’s stock valued at $9,385,000 after acquiring an additional 760 shares during the last quarter. Finally, Retirement Systems of Alabama grew its position in Gaming and Leisure Properties by 4.3% in the second quarter. Retirement Systems of Alabama now owns 729,298 shares of the real estate investment trust’s stock worth $32,972,000 after acquiring an additional 29,794 shares during the period. 91.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Mizuho decreased their price target on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and upped their target price for the company from $49.00 to $54.00 in a research report on Wednesday, November 20th. Wells Fargo & Company reiterated an “equal weight” rating and set a $52.00 price target (up from $51.00) on shares of Gaming and Leisure Properties in a research report on Tuesday, October 1st. Stifel Nicolaus increased their price objective 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. Finally, 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 note on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $53.96.

Insider Transactions at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 6,885 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.16, for a total value of $345,351.60. Following the sale, the director now directly owns 149,800 shares in the company, valued at $7,513,968. This trade represents a 4.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.37% of the company’s stock.

Gaming and Leisure Properties Price Performance

GLPI stock opened at $50.09 on Monday. The business’s 50-day moving average is $50.49 and its two-hundred day moving average is $49.07. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35. The firm has a market capitalization of $13.74 billion, a P/E ratio of 17.51, a P/E/G ratio of 2.10 and a beta of 0.98. Gaming and Leisure Properties, Inc. has a 1 year low of $41.80 and a 1 year high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The firm had revenue of $385.34 million for the quarter, compared to analysts’ expectations of $385.09 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.67 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, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.07%. Gaming and Leisure Properties’s payout ratio is 106.29%.

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.