Intech Investment Management LLC Has $408,000 Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Intech Investment Management LLC grew its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPIGet Rating) by 10.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,839 shares of the real estate investment trust’s stock after purchasing an additional 744 shares during the period. Intech Investment Management LLC’s holdings in Gaming and Leisure Properties were worth $408,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in GLPI. Principal Financial Group Inc. raised its position in shares of Gaming and Leisure Properties by 2,063.7% during the fourth quarter. Principal Financial Group Inc. now owns 5,024,745 shares of the real estate investment trust’s stock valued at $261,739,000 after buying an additional 4,792,518 shares during the last quarter. Vanguard Group Inc. raised its position in Gaming and Leisure Properties by 5.3% in the third quarter. Vanguard Group Inc. now owns 36,132,441 shares of the real estate investment trust’s stock worth $1,598,500,000 after purchasing an additional 1,817,088 shares in the last quarter. BlackRock Inc. raised its position in Gaming and Leisure Properties by 11.2% in the third quarter. BlackRock Inc. now owns 17,418,081 shares of the real estate investment trust’s stock worth $770,577,000 after purchasing an additional 1,754,145 shares in the last quarter. Heitman Real Estate Securities LLC acquired a new position in Gaming and Leisure Properties in the third quarter worth about $58,492,000. Finally, Wellington Management Group LLP raised its position in Gaming and Leisure Properties by 13.6% in the first quarter. Wellington Management Group LLP now owns 10,515,906 shares of the real estate investment trust’s stock worth $493,511,000 after purchasing an additional 1,255,222 shares in the last quarter. Institutional investors and hedge funds own 90.69% of the company’s stock.

Insider Activity

In related news, Director E Scott Urdang purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were acquired at an average cost of $53.82 per share, with a total value of $53,820.00. Following the completion of the purchase, the director now directly owns 150,132 shares of the company’s stock, valued at $8,080,104.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.60% of the stock is owned by insiders.

Gaming and Leisure Properties Price Performance

GLPI opened at $48.62 on Monday. Gaming and Leisure Properties, Inc. has a one year low of $42.71 and a one year high of $55.13. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.08 and a quick ratio of 0.08. The company’s 50 day simple moving average is $50.62 and its 200-day simple moving average is $51.64. The stock has a market capitalization of $12.76 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 4.47 and a beta of 0.99.

Gaming and Leisure Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, March 10th were paid a dividend of $0.97 per share. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.71. This represents a $3.88 annualized dividend and a dividend yield of 7.98%. The ex-dividend date of this dividend was Thursday, March 9th. Gaming and Leisure Properties’s dividend payout ratio is 98.97%.

Analysts Set New Price Targets

Several research firms recently issued reports on GLPI. JMP Securities reissued a “market outperform” rating and issued a $57.00 price target on shares of Gaming and Leisure Properties in a research report on Tuesday, March 21st. Raymond James increased their price target on shares of Gaming and Leisure Properties from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, April 6th. Finally, StockNews.com started coverage on shares of Gaming and Leisure Properties in a research note on Thursday. They set a “hold” rating on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.80.

Gaming and Leisure Properties Profile

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Gaming & Leisure Properties, Inc engages in 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.

Further Reading

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Institutional Ownership by Quarter for Gaming and Leisure Properties (NASDAQ:GLPI)

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