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

Frank Rimerman Advisors LLC increased its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 31.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,895 shares of the real estate investment trust’s stock after purchasing an additional 8,689 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Gaming and Leisure Properties were worth $1,729,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Thompson Siegel & Walmsley LLC grew its stake in shares of Gaming and Leisure Properties by 8.2% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,361,899 shares of the real estate investment trust’s stock valued at $65,589,000 after purchasing an additional 103,440 shares during the last quarter. Achmea Investment Management B.V. boosted its stake in Gaming and Leisure Properties by 8.1% in the fourth quarter. Achmea Investment Management B.V. now owns 239,915 shares of the real estate investment trust’s stock valued at $11,554,000 after acquiring an additional 18,017 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Gaming and Leisure Properties by 5.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 23,938 shares of the real estate investment trust’s stock valued at $1,153,000 after acquiring an additional 1,259 shares during the last quarter. HighTower Advisors LLC boosted its stake in Gaming and Leisure Properties by 1.7% in the fourth quarter. HighTower Advisors LLC now owns 1,712,911 shares of the real estate investment trust’s stock valued at $82,494,000 after acquiring an additional 27,973 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Gaming and Leisure Properties by 39.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 181,416 shares of the real estate investment trust’s stock valued at $8,737,000 after acquiring an additional 51,662 shares during the last quarter. 91.14% of the stock is owned by institutional investors.

Insider Activity at Gaming and Leisure Properties

In other news, SVP Matthew Demchyk sold 1,903 shares of Gaming and Leisure Properties stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $51.99, for a total value of $98,936.97. Following the completion of the transaction, the senior vice president now owns 41,298 shares of the company’s stock, valued at $2,147,083.02. This trade represents a 4.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director E Scott Urdang sold 5,000 shares of Gaming and Leisure Properties stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $49.72, for a total transaction of $248,600.00. Following the completion of the transaction, the director now directly owns 145,953 shares of the company’s stock, valued at approximately $7,256,783.16. This trade represents a 3.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,064 shares of company stock valued at $2,778,908. Corporate insiders own 4.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GLPI. Scotiabank reduced their price objective on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. Stifel Nicolaus raised their price objective on shares of Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and raised their price objective for the company from $49.00 to $54.00 in a research note on Wednesday, November 20th. JPMorgan Chase & Co. upgraded shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $49.00 to $54.00 in a report on Friday, December 13th. Finally, Wells Fargo & Company increased their target price on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and an average target price of $53.96.

Gaming and Leisure Properties Trading Up 0.7 %

Shares of 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 company’s fifty day simple moving average is $48.71 and its 200 day simple moving average is $49.81. The firm has a market cap of $13.68 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 2.01 and a beta of 1.00.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. The business had revenue of $389.62 million during the quarter, compared to the consensus estimate of $391.54 million. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. As a group, research analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 6.11%. The ex-dividend date of this dividend is Friday, March 14th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 105.92%.

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.