Norges Bank Purchases New Shares in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Norges Bank acquired a new position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,657,049 shares of the real estate investment trust’s stock, valued at approximately $176,123,000. Norges Bank owned approximately 1.33% of Gaming and Leisure Properties as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in GLPI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Gaming and Leisure Properties by 647.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,025,526 shares of the real estate investment trust’s stock valued at $104,213,000 after buying an additional 1,754,370 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Gaming and Leisure Properties in the fourth quarter worth about $49,188,000. Franklin Resources Inc. lifted its position in shares of Gaming and Leisure Properties by 7.8% during the third quarter. Franklin Resources Inc. now owns 12,259,224 shares of the real estate investment trust’s stock worth $641,059,000 after purchasing an additional 889,698 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Gaming and Leisure Properties by 6,162.9% during the third quarter. Janus Henderson Group PLC now owns 812,981 shares of the real estate investment trust’s stock valued at $41,820,000 after purchasing an additional 800,000 shares during the last quarter. Finally, Aew Capital Management L P increased its holdings in shares of Gaming and Leisure Properties by 1,786.5% in the fourth quarter. Aew Capital Management L P now owns 761,600 shares of the real estate investment trust’s stock valued at $36,679,000 after purchasing an additional 721,230 shares in the last quarter. Institutional investors own 91.14% of the company’s stock.

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 5,000 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $49.72, for a total transaction of $248,600.00. Following the sale, the director now directly owns 145,953 shares in the company, valued at $7,256,783.16. This trade represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Brandon John Moore sold 3,982 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $47.84, for a total transaction of $190,498.88. Following the completion of the sale, the chief operating officer now directly owns 278,634 shares in the company, valued at $13,329,850.56. This represents a 1.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,064 shares of company stock worth $2,778,908. 4.37% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $55.00 price objective on shares of Gaming and Leisure Properties in a report on Wednesday, December 18th. Scotiabank cut their price target on Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. JPMorgan Chase & Co. upgraded Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $49.00 to $54.00 in a research report on Friday, December 13th. Barclays dropped their price objective on Gaming and Leisure Properties from $55.00 to $53.00 and set an “equal weight” rating for the company in a report on Tuesday, March 4th. Finally, Morgan Stanley lowered shares of Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 target price on the stock. in a research note on Wednesday, January 15th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.96.

Gaming and Leisure Properties Trading Down 0.2 %

GLPI opened at $50.40 on Monday. The firm’s fifty day moving average is $49.49 and its two-hundred day moving average is $49.70. The firm has a market cap of $13.85 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00. Gaming and Leisure Properties, Inc. has a twelve month low of $41.80 and a twelve month high of $52.60. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.95 EPS for the quarter, topping the consensus estimate of $0.94 by $0.01. The business had revenue of $389.62 million for the quarter, compared to the consensus estimate of $391.54 million. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. Equities research analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 6.03%. The ex-dividend date of this dividend was Friday, March 14th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 105.92%.

Gaming and Leisure Properties Profile

Gaming & Leisure Properties, Inc engages in the provision of 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.