Bank of New York Mellon Corp Increases Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Bank of New York Mellon Corp lifted its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 15.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,981,567 shares of the real estate investment trust's stock after purchasing an additional 394,069 shares during the period. Bank of New York Mellon Corp owned about 1.09% of Gaming and Leisure Properties worth $143,592,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of GLPI. Segall Bryant & Hamill LLC acquired a new stake in shares of Gaming and Leisure Properties in the third quarter worth approximately $693,000. Sanctuary Advisors LLC lifted its holdings in Gaming and Leisure Properties by 76.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 32,316 shares of the real estate investment trust's stock valued at $1,646,000 after purchasing an additional 13,965 shares in the last quarter. Zacks Investment Management boosted its stake in Gaming and Leisure Properties by 10.9% during the 3rd quarter. Zacks Investment Management now owns 522,197 shares of the real estate investment trust's stock worth $26,867,000 after purchasing an additional 51,398 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Gaming and Leisure Properties by 87.5% during the third quarter. Cerity Partners LLC now owns 14,410 shares of the real estate investment trust's stock worth $741,000 after buying an additional 6,724 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new stake in shares of Gaming and Leisure Properties in the fourth quarter valued at about $526,000. Hedge funds and other institutional investors own 91.14% of the company's stock.

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Gaming and Leisure Properties Stock Performance

NASDAQ GLPI traded up $0.31 on Tuesday, hitting $50.17. 738,373 shares of the company's stock were exchanged, compared to its average volume of 1,182,927. The firm has a market cap of $13.79 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 2.01 and a beta of 0.99. The firm's 50-day moving average price is $48.36 and its two-hundred day moving average price is $49.79. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.80 and a fifty-two week high of $52.60. 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 - Get Free Report) last announced 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 return on equity of 17.41% and a net margin of 51.65%. The firm had revenue of $389.62 million for the quarter, compared to analyst estimates of $391.54 million. On average, research 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. Investors of record on Friday, March 14th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.04 annualized dividend and a yield of 6.06%. Gaming and Leisure Properties's dividend payout ratio is presently 105.92%.

Insiders Place Their Bets

In other news, Director E Scott Urdang sold 5,000 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $49.72, for a total transaction of $248,600.00. Following the completion of the sale, the director now owns 145,953 shares in the company, valued at approximately $7,256,783.16. The trade was a 3.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Matthew Demchyk sold 3,382 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total transaction of $170,723.36. Following the sale, the senior vice president now directly owns 49,620 shares of the company's stock, valued at approximately $2,504,817.60. This trade represents a 6.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,742 shares of company stock worth $2,101,682. 4.37% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on GLPI. Scotiabank cut 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 report on Thursday, January 16th. Morgan Stanley downgraded Gaming and Leisure Properties from an "overweight" rating to an "equal weight" rating and set a $53.00 target price for the company. in a research note on Wednesday, January 15th. Mizuho reduced their price target on Gaming and Leisure Properties from $52.00 to $51.00 and set a "neutral" rating on the stock in a report on Thursday, November 14th. JMP Securities reiterated a "market outperform" rating and issued a $55.00 target price on shares of Gaming and Leisure Properties in a report on Wednesday, December 18th. Finally, Royal Bank of Canada reduced their price objective on Gaming and Leisure Properties from $57.00 to $56.00 and set an "outperform" rating on the stock in a research note on Monday, February 24th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $54.04.

Gaming and Leisure Properties Profile

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.