Bank of Nova Scotia Trims Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Bank of Nova Scotia lessened its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Get Rating) by 28.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,608 shares of the real estate investment trust’s stock after selling 7,268 shares during the quarter. Bank of Nova Scotia’s holdings in Gaming and Leisure Properties were worth $969,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. AE Wealth Management LLC grew its holdings in Gaming and Leisure Properties by 15.2% during the fourth quarter. AE Wealth Management LLC now owns 13,807 shares of the real estate investment trust’s stock valued at $719,000 after purchasing an additional 1,823 shares during the period. FORA Capital LLC bought a new stake in Gaming and Leisure Properties during the third quarter valued at about $575,000. Mercer Global Advisors Inc. ADV grew its holdings in Gaming and Leisure Properties by 8.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 81,973 shares of the real estate investment trust’s stock valued at $4,270,000 after purchasing an additional 6,260 shares during the period. Barclays PLC grew its holdings in Gaming and Leisure Properties by 124.9% during the third quarter. Barclays PLC now owns 163,395 shares of the real estate investment trust’s stock valued at $7,228,000 after purchasing an additional 90,739 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Gaming and Leisure Properties by 4.5% during the fourth quarter. Victory Capital Management Inc. now owns 481,631 shares of the real estate investment trust’s stock valued at $25,325,000 after purchasing an additional 20,778 shares during the period. Hedge funds and other institutional investors own 90.69% of the company’s stock.

Insider Buying and Selling

In related news, Director E Scott Urdang acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were acquired at an average cost of $53.82 per share, for a total transaction of $53,820.00. Following the completion of the transaction, the director now directly owns 150,132 shares in the company, valued at approximately $8,080,104.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.60% of the stock is owned by company insiders.

Gaming and Leisure Properties Price Performance

NASDAQ:GLPI opened at $47.86 on Wednesday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $12.56 billion, a P/E ratio of 16.45, a P/E/G ratio of 4.47 and a beta of 0.99. Gaming and Leisure Properties, Inc. has a 12 month low of $42.71 and a 12 month high of $55.13. The business’s 50-day moving average is $50.52 and its 200 day moving average is $51.62.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on GLPI shares. JMP Securities reaffirmed a “market outperform” rating and issued a $57.00 price objective on shares of Gaming and Leisure Properties in a research note on Tuesday, March 21st. Raymond James upped their price objective on Gaming and Leisure Properties from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, April 6th. Finally, StockNews.com started coverage on Gaming and Leisure Properties in a research note on Thursday, May 18th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and a consensus 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.