Meeder Asset Management Inc. boosted its position in Gaming and Leisure Properties Inc (NASDAQ:GLPI) by 50.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,884 shares of the real estate investment trust’s stock after purchasing an additional 4,318 shares during the period. Meeder Asset Management Inc.’s holdings in Gaming and Leisure Properties were worth $497,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its stake in Gaming and Leisure Properties by 50.6% in the 4th quarter. Parallel Advisors LLC now owns 905 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 304 shares in the last quarter. We Are One Seven LLC purchased a new position in Gaming and Leisure Properties during the fourth quarter worth $31,000. Ffcm LLC increased its position in Gaming and Leisure Properties by 72.4% during the fourth quarter. Ffcm LLC now owns 1,141 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 479 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Gaming and Leisure Properties by 43.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,434 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 434 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Gaming and Leisure Properties by 50.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,787 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 602 shares in the last quarter. 88.22% of the stock is owned by hedge funds and other institutional investors.

In other news, CAO Desiree A. Burke sold 41,458 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $39.06, for a total transaction of $1,619,349.48. Following the sale, the chief accounting officer now owns 119,264 shares in the company, valued at $4,658,451.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Matthew Demchyk acquired 4,000 shares of the firm’s stock in a transaction dated Thursday, February 28th. The shares were acquired at an average price of $36.50 per share, for a total transaction of $146,000.00. Following the acquisition, the senior vice president now directly owns 37,500 shares of the company’s stock, valued at $1,368,750. The disclosure for this purchase can be found here. 5.88% of the stock is owned by company insiders.

GLPI stock opened at $39.84 on Monday. Gaming and Leisure Properties Inc has a 52-week low of $31.19 and a 52-week high of $39.99. The company has a debt-to-equity ratio of 2.58, a quick ratio of 3.60 and a current ratio of 3.60. The firm has a market cap of $8.55 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 0.93 and a beta of 0.55.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings data on Wednesday, February 13th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.02. Gaming and Leisure Properties had a return on equity of 14.42% and a net margin of 32.16%. The business had revenue of $303.30 million for the quarter, compared to analysts’ expectations of $306.12 million. During the same quarter last year, the firm earned $0.55 earnings per share. The business’s revenue was up 26.0% on a year-over-year basis. As a group, equities research analysts predict that Gaming and Leisure Properties Inc will post 3.36 EPS for the current fiscal year.

Several research firms have weighed in on GLPI. Zacks Investment Research downgraded Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Saturday, January 19th. BidaskClub raised Gaming and Leisure Properties from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 29th. Finally, Stifel Nicolaus raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and raised their price target for the stock from $39.00 to $43.00 in a research report on Monday, April 15th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $41.20.

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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.

Further Reading: Hedge Funds

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

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