Cornercap Investment Counsel Inc. Buys 10,588 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Cornercap Investment Counsel Inc. increased its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 97.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,443 shares of the real estate investment trust’s stock after purchasing an additional 10,588 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Gaming and Leisure Properties were worth $1,058,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Atlas Capital Advisors LLC boosted its stake in Gaming and Leisure Properties by 203.0% in the first quarter. Atlas Capital Advisors LLC now owns 512 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 343 shares in the last quarter. Operose Advisors LLC purchased a new stake in Gaming and Leisure Properties in the third quarter worth approximately $32,000. Zions Bancorporation N.A. purchased a new stake in Gaming and Leisure Properties in the first quarter worth approximately $43,000. RVW Wealth LLC purchased a new stake in shares of Gaming and Leisure Properties during the third quarter valued at approximately $47,000. Finally, Armstrong Advisory Group Inc. boosted its stake in shares of Gaming and Leisure Properties by 166.2% during 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 during the period. 91.14% of the stock is currently owned by institutional investors.

Gaming and Leisure Properties Price Performance

Shares of NASDAQ:GLPI opened at $42.81 on Tuesday. Gaming and Leisure Properties, Inc. has a 1-year low of $42.44 and a 1-year high of $52.45. The company has a debt-to-equity ratio of 1.48, a current ratio of 7.41 and a quick ratio of 7.41. The business has a fifty day moving average price of $45.27 and a 200-day moving average price of $46.05. The company has a market capitalization of $11.62 billion, a PE ratio of 15.45, a PEG ratio of 5.37 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 issued a dividend of $0.76 per share. The ex-dividend date was Thursday, March 14th. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 annualized dividend and a dividend yield of 7.10%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 109.75%.

Insider Activity

In related news, Director E Scott Urdang purchased 2,500 shares of Gaming and Leisure Properties stock in a transaction dated Friday, March 1st. The stock was purchased at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the completion of the acquisition, the director now directly owns 156,685 shares of the company’s stock, valued at $7,050,825. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

GLPI has been the subject of a number of analyst reports. Mizuho dropped their price objective on Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, March 7th. Morgan Stanley dropped their price target on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st. Royal Bank of Canada dropped their price target on Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. JMP Securities reiterated a “market outperform” rating and issued a $53.00 price objective on shares of Gaming and Leisure Properties in a report on Monday, March 4th. Finally, StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.09.

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.