Park Avenue Securities LLC Purchases 1,629 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Park Avenue Securities LLC raised its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Get Rating) by 36.5% during the third quarter, Holdings Channel reports. The fund owned 6,096 shares of the real estate investment trust’s stock after acquiring an additional 1,629 shares during the period. Park Avenue Securities LLC’s holdings in Gaming and Leisure Properties were worth $270,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. JFS Wealth Advisors LLC bought a new position in Gaming and Leisure Properties in the second quarter valued at about $30,000. Quadrant Capital Group LLC increased its position in Gaming and Leisure Properties by 118.0% in the second quarter. Quadrant Capital Group LLC now owns 665 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 360 shares in the last quarter. Zions Bancorporation N.A. purchased a new stake in Gaming and Leisure Properties in the first quarter worth about $43,000. Destiny Wealth Partners LLC purchased a new stake in Gaming and Leisure Properties in the third quarter worth about $44,000. Finally, CWM LLC increased its position in Gaming and Leisure Properties by 50.9% in the third quarter. CWM LLC now owns 1,005 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 339 shares in the last quarter. Institutional investors own 90.69% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Truist Financial upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and upped their price target for the stock from $54.00 to $60.00 in a research report on Wednesday, January 11th. Mizuho upped their price target on Gaming and Leisure Properties from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, December 8th. StockNews.com cut Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, November 8th. Morgan Stanley upped their price target on Gaming and Leisure Properties from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, December 16th. Finally, Raymond James cut Gaming and Leisure Properties from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $57.00 to $55.00 in a research report on Monday, January 9th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and a consensus target price of $56.60.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, SVP Matthew Demchyk sold 1,961 shares of the firm’s stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $52.27, for a total transaction of $102,501.47. Following the completion of the transaction, the senior vice president now owns 34,316 shares in the company, valued at approximately $1,793,697.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Matthew Demchyk sold 1,961 shares of the firm’s stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $52.27, for a total value of $102,501.47. Following the completion of the sale, the senior vice president now directly owns 34,316 shares of the company’s stock, valued at approximately $1,793,697.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brandon John Moore sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 30th. The shares were sold at an average price of $52.00, for a total value of $156,000.00. Following the completion of the sale, the chief operating officer now directly owns 182,993 shares of the company’s stock, valued at $9,515,636. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by company insiders.

Gaming and Leisure Properties Stock Performance

NASDAQ GLPI opened at $51.78 on Tuesday. The stock has a market capitalization of $13.23 billion, a PE ratio of 21.22, a P/E/G ratio of 10.09 and a beta of 1.00. The business has a 50 day simple moving average of $51.78 and a two-hundred day simple moving average of $50.00. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.60 and a quick ratio of 0.60. Gaming and Leisure Properties, Inc. has a 1-year low of $41.81 and a 1-year high of $53.91.

Gaming and Leisure Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 23rd. Shareholders of record on Friday, December 9th were issued a dividend of $0.705 per share. This represents a $2.82 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend was Thursday, December 8th. Gaming and Leisure Properties’s dividend payout ratio is presently 115.57%.

Gaming and Leisure Properties Company Profile

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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.