PNC Financial Services Group Inc. Acquires 884 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

PNC Financial Services Group Inc. boosted its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,308 shares of the real estate investment trust’s stock after acquiring an additional 884 shares during the period. PNC Financial Services Group Inc.’s holdings in Gaming and Leisure Properties were worth $496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Gaming and Leisure Properties by 8.7% during the fourth quarter. GAMMA Investing LLC now owns 2,826 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 226 shares during the last quarter. Opal Wealth Advisors LLC lifted its position in shares of Gaming and Leisure Properties by 4.9% during the fourth quarter. Opal Wealth Advisors LLC now owns 5,082 shares of the real estate investment trust’s stock valued at $245,000 after buying an additional 238 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Gaming and Leisure Properties by 5.1% during the third quarter. Integrated Wealth Concepts LLC now owns 5,433 shares of the real estate investment trust’s stock valued at $280,000 after buying an additional 262 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Gaming and Leisure Properties by 0.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 55,881 shares of the real estate investment trust’s stock valued at $2,691,000 after buying an additional 277 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Gaming and Leisure Properties by 3.6% during the third quarter. CIBC Asset Management Inc now owns 7,948 shares of the real estate investment trust’s stock valued at $409,000 after buying an additional 278 shares during the last quarter. 91.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GLPI has been the subject of several research analyst reports. Scotiabank decreased their price objective on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. Royal Bank of Canada decreased their price objective on shares of Gaming and Leisure Properties from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. Barclays decreased their price objective on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 4th. Wells Fargo & Company increased their price objective on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Finally, Stifel Nicolaus increased their price objective on shares of Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.96.

Gaming and Leisure Properties Price Performance

Shares of NASDAQ GLPI opened at $50.87 on Thursday. The stock has a market capitalization of $13.98 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 2.01 and a beta of 1.00. Gaming and Leisure Properties, Inc. has a 12 month low of $41.80 and a 12 month high of $52.60. The firm’s 50 day simple moving average is $48.96 and its 200-day simple moving average is $49.77. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick 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 analysts’ consensus estimates of $0.94 by $0.01. The business had revenue of $389.62 million for the quarter, compared to analysts’ expectations of $391.54 million. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. Analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.76 per share. The ex-dividend date is Friday, March 14th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 5.98%. Gaming and Leisure Properties’s payout ratio is 105.92%.

Insider Transactions at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $50.89, for a total value of $254,450.00. Following the completion of the sale, the director now owns 140,953 shares of the company’s stock, valued at approximately $7,173,098.17. The trade was a 3.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Matthew Demchyk sold 1,138 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $50.45, for a total transaction of $57,412.10. Following the completion of the sale, the senior vice president now directly owns 53,002 shares of the company’s stock, valued at approximately $2,673,950.90. The trade was a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,064 shares of company stock valued at $2,778,908 in the last 90 days. 4.37% of the stock is currently owned by company insiders.

Gaming and Leisure Properties Company 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.