Cerity Partners LLC Grows Stock Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Cerity Partners LLC boosted its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 60.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,882 shares of the real estate investment trust’s stock after buying an additional 2,959 shares during the quarter. Cerity Partners LLC’s holdings in Gaming and Leisure Properties were worth $389,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Operose Advisors LLC acquired a new position in shares of Gaming and Leisure Properties during the 3rd quarter worth about $32,000. Armstrong Advisory Group Inc. boosted its holdings in Gaming and Leisure Properties by 166.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 1,203 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 751 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in Gaming and Leisure Properties in the third quarter valued at approximately $79,000. CWM LLC raised its holdings in Gaming and Leisure Properties by 38.7% during the third quarter. CWM LLC now owns 1,954 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 545 shares in the last quarter. Finally, Rocky Mountain Advisers LLC purchased a new stake in shares of Gaming and Leisure Properties during the 4th quarter worth approximately $103,000. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director E Scott Urdang acquired 2,500 shares of the company’s stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $45.00 per share, with a total value of $112,500.00. Following the purchase, the director now owns 156,685 shares of the company’s stock, valued at approximately $7,050,825. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Royal Bank of Canada dropped their target price on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Mizuho dropped their price objective on Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, March 7th. Morgan Stanley reduced their target price on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. StockNews.com raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and a consensus target price of $52.09.

Gaming and Leisure Properties Stock Down 2.2 %

GLPI opened at $42.46 on Friday. Gaming and Leisure Properties, Inc. has a 52 week low of $41.80 and a 52 week high of $52.31. The business has a 50 day moving average price of $44.87 and a two-hundred day moving average price of $45.91. The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 1.48. The company has a market cap of $11.53 billion, a PE ratio of 15.33, a P/E/G ratio of 5.43 and a beta of 0.94.

Gaming and Leisure Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 7.16%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. Gaming and Leisure Properties’s dividend payout ratio is 109.75%.

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.