Piedmont Investment Advisors Inc. Makes New Investment in Gaming and Leisure Properties Inc (NASDAQ:GLPI)

Piedmont Investment Advisors Inc. bought a new position in Gaming and Leisure Properties Inc (NASDAQ:GLPI) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,558 shares of the real estate investment trust’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GLPI. JPMorgan Chase & Co. lifted its position in Gaming and Leisure Properties by 106.0% in the third quarter. JPMorgan Chase & Co. now owns 362,506 shares of the real estate investment trust’s stock worth $12,778,000 after purchasing an additional 186,538 shares during the period. Vanguard Group Inc increased its holdings in shares of Gaming and Leisure Properties by 9.1% in the third quarter. Vanguard Group Inc now owns 30,677,165 shares of the real estate investment trust’s stock valued at $1,081,370,000 after buying an additional 2,553,357 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Gaming and Leisure Properties by 3.5% in the fourth quarter. Advisors Asset Management Inc. now owns 17,355 shares of the real estate investment trust’s stock valued at $561,000 after buying an additional 588 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Gaming and Leisure Properties by 43.4% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,434 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 434 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Gaming and Leisure Properties by 4.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 248,209 shares of the real estate investment trust’s stock valued at $8,020,000 after buying an additional 10,690 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

NASDAQ:GLPI traded up $0.28 during trading hours on Friday, reaching $38.98. The company’s stock had a trading volume of 2,722,535 shares, compared to its average volume of 891,574. The company has a market cap of $8.37 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 0.93 and a beta of 0.58. Gaming and Leisure Properties Inc has a one year low of $31.19 and a one year high of $40.82. The business has a 50-day moving average of $39.73. The company has a current ratio of 2.99, a quick ratio of 2.99 and a debt-to-equity ratio of 2.72.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 6.98%. The ex-dividend date of this dividend was Thursday, June 13th. Gaming and Leisure Properties’s dividend payout ratio is presently 85.53%.

In other Gaming and Leisure Properties news, CAO Desiree A. Burke sold 41,458 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $39.06, for a total transaction of $1,619,349.48. Following the completion of the sale, the chief accounting officer now directly owns 119,264 shares in the company, valued at $4,658,451.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.05% of the company’s stock.

Several research analysts have issued reports on GLPI shares. BidaskClub cut Gaming and Leisure Properties from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 11th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $41.00 price target on shares of Gaming and Leisure Properties in a report on Wednesday, March 20th. Stifel Nicolaus raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and upped their price target for the company from $39.00 to $43.00 in a report on Monday, April 15th. Zacks Investment Research downgraded shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Finally, Morgan Stanley boosted their target price on shares of Gaming and Leisure Properties from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Gaming and Leisure Properties currently has an average rating of “Buy” and a consensus target price of $42.80.

Gaming and Leisure Properties 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.

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

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