Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Acquired by DnB Asset Management AS

DnB Asset Management AS increased its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 6.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,897 shares of the real estate investment trust’s stock after acquiring an additional 2,823 shares during the quarter. DnB Asset Management AS’s holdings in Gaming and Leisure Properties were worth $2,403,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth about $176,123,000. Raymond James Financial Inc. purchased a new stake in Gaming and Leisure Properties in the fourth quarter valued at approximately $49,188,000. Franklin Resources Inc. lifted its stake in Gaming and Leisure Properties by 7.8% in the third quarter. Franklin Resources Inc. now owns 12,259,224 shares of the real estate investment trust’s stock valued at $641,059,000 after buying an additional 889,698 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Gaming and Leisure Properties by 6,162.9% in 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 acquiring an additional 800,000 shares during the period. Finally, Aew Capital Management L P grew its position in shares of Gaming and Leisure Properties by 1,786.5% during the fourth quarter. Aew Capital Management L P now owns 761,600 shares of the real estate investment trust’s stock worth $36,679,000 after acquiring an additional 721,230 shares during the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on GLPI shares. Wells Fargo & Company raised their price objective on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. JMP Securities reissued a “market outperform” rating and set a $55.00 price target on shares of Gaming and Leisure Properties in a report on Wednesday, December 18th. Morgan Stanley downgraded Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price objective for the company. in a research note on Wednesday, January 15th. Barclays lowered their target price on Gaming and Leisure Properties from $55.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. upgraded Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $49.00 to $54.00 in a research note on Friday, December 13th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.96.

Insider Activity at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, SVP Matthew Demchyk sold 1,149 shares of Gaming and Leisure Properties stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $47.80, for a total value of $54,922.20. Following the completion of the sale, the senior vice president now directly owns 91,620 shares of the company’s stock, valued at approximately $4,379,436. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Brandon John Moore sold 3,982 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $47.84, for a total value of $190,498.88. Following the transaction, the chief operating officer now directly owns 278,634 shares in the company, valued at approximately $13,329,850.56. This represents a 1.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,064 shares of company stock valued at $2,778,908. 4.37% of the stock is owned by insiders.

Gaming and Leisure Properties Stock Performance

NASDAQ:GLPI opened at $50.78 on Wednesday. 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 market capitalization of $13.96 billion, a P/E ratio of 17.69, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. The firm has a 50-day moving average price of $49.58 and a two-hundred day moving average price of $49.68.

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

Gaming and Leisure Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 5.99%. The ex-dividend date was Friday, March 14th. Gaming and Leisure Properties’s dividend payout ratio is presently 105.92%.

About Gaming and Leisure Properties

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.