Lasalle Investment Management Securities LLC Purchases 38,597 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Lasalle Investment Management Securities LLC grew its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,400,397 shares of the real estate investment trust’s stock after acquiring an additional 38,597 shares during the quarter. Gaming and Leisure Properties accounts for approximately 2.9% of Lasalle Investment Management Securities LLC’s investment portfolio, making the stock its 15th biggest position. Lasalle Investment Management Securities LLC’s holdings in Gaming and Leisure Properties were worth $72,905,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Gaming and Leisure Properties in the 1st quarter valued at $39,000. HBC Financial Services PLLC acquired a new position in Gaming and Leisure Properties in the first quarter valued at about $41,000. Zions Bancorporation N.A. bought a new stake in Gaming and Leisure Properties during the first quarter worth about $43,000. Quadrant Capital Group LLC grew its stake in Gaming and Leisure Properties by 118.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,056 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 573 shares in the last quarter. Finally, Belpointe Asset Management LLC bought a new position in Gaming and Leisure Properties in the 4th quarter valued at about $56,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GLPI. JMP Securities reiterated a “market outperform” rating and set a $57.00 price target on shares of Gaming and Leisure Properties in a research report on Thursday, August 31st. StockNews.com began coverage on Gaming and Leisure Properties in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating and decreased their price target for the company from $60.00 to $52.00 in a research note on Wednesday, July 5th. BNP Paribas initiated coverage on Gaming and Leisure Properties in a research report on Wednesday, June 14th. They set an “outperform” rating and a $63.00 price objective for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $54.00 target price on shares of Gaming and Leisure Properties in a research report on Wednesday, August 30th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.80.

Gaming and Leisure Properties Stock Down 0.8 %

GLPI traded down $0.37 during midday trading on Monday, reaching $48.67. 486,728 shares of the company were exchanged, compared to its average volume of 1,150,477. The company has a market cap of $12.78 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 4.31 and a beta of 0.98. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.11 and a current ratio of 0.11. Gaming and Leisure Properties, Inc. has a one year low of $43.46 and a one year high of $55.13. The company’s fifty day moving average price is $47.77 and its 200 day moving average price is $49.45.

Gaming and Leisure Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.73 dividend. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.92 annualized dividend and a dividend yield of 6.00%. Gaming and Leisure Properties’s dividend payout ratio is presently 99.65%.

Insiders Place Their Bets

In related news, Director Barry F. Schwartz purchased 1,000 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $47.74 per share, with a total value of $47,740.00. Following the acquisition, the director now owns 53,823 shares of the company’s stock, valued at approximately $2,569,510.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Barry F. Schwartz bought 1,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were purchased at an average price of $47.74 per share, for a total transaction of $47,740.00. Following the completion of the transaction, the director now directly owns 53,823 shares in the company, valued at approximately $2,569,510.02. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Barry F. Schwartz acquired 1,500 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was purchased at an average price of $45.83 per share, with a total value of $68,745.00. Following the completion of the transaction, the director now directly owns 55,323 shares of the company’s stock, valued at approximately $2,535,453.09. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 3,500 shares of company stock valued at $163,835. Corporate insiders own 4.40% of the company’s stock.

Gaming and Leisure Properties Company Profile

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.