Zurcher Kantonalbank Zurich Cantonalbank Buys 5,744 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 4.6% in the third quarter, Holdings Channel reports. The fund owned 129,754 shares of the real estate investment trust’s stock after acquiring an additional 5,744 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Gaming and Leisure Properties were worth $6,676,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Assetmark Inc. raised its position in Gaming and Leisure Properties by 2,547.6% in the third quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 535 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of 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 valued at $34,000 after buying an additional 384 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Gaming and Leisure Properties in the 2nd quarter valued at approximately $31,000. EverSource Wealth Advisors LLC boosted its position in Gaming and Leisure Properties by 578.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 590 shares during the period. Finally, EdgeRock Capital LLC bought a new stake in Gaming and Leisure Properties during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 91.14% of the company’s stock.

Insider Activity

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 shares were sold at an average price of $50.16, for a total value of $345,351.60. Following the transaction, the director now directly owns 149,800 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 4.37% of the company’s stock.

Analyst Ratings Changes

GLPI has been the subject of several analyst reports. StockNews.com downgraded shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Mizuho cut their target price on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and upped their price target for the company from $49.00 to $54.00 in a research report on Wednesday, November 20th. Raymond James raised their price objective on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Finally, Wolfe Research upgraded Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a report on Friday, August 23rd. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.32.

Gaming and Leisure Properties Stock Down 0.1 %

Shares of NASDAQ GLPI opened at $51.61 on Monday. 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 cap of $14.16 billion, a PE ratio of 18.05, a P/E/G ratio of 2.19 and a beta of 0.99. The company’s fifty day simple moving average is $50.59 and its 200 day simple moving average is $48.68. Gaming and Leisure Properties, Inc. has a 12-month low of $41.80 and a 12-month high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.25). The company had revenue of $385.34 million for the quarter, compared to analyst estimates of $385.09 million. Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. Gaming and Leisure Properties’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.92 EPS. As a group, sell-side analysts forecast that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid 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 yield of 5.89%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 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.