Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 39.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 181,416 shares of the real estate investment trust's stock after acquiring an additional 51,662 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Gaming and Leisure Properties worth $8,737,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in GLPI. Farther Finance Advisors LLC grew its holdings in shares of Gaming and Leisure Properties by 142.2% in the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 384 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Gaming and Leisure Properties by 2,547.6% in the third quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 535 shares in the last quarter. Atria Investments Inc grew its holdings in shares of Gaming and Leisure Properties by 16.0% in the third quarter. Atria Investments Inc now owns 19,668 shares of the real estate investment trust's stock valued at $1,012,000 after purchasing an additional 2,710 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Gaming and Leisure Properties by 0.6% in the third quarter. Victory Capital Management Inc. now owns 798,922 shares of the real estate investment trust's stock valued at $41,105,000 after purchasing an additional 5,037 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Gaming and Leisure Properties by 162.8% in the third quarter. KBC Group NV now owns 97,643 shares of the real estate investment trust's stock valued at $5,024,000 after purchasing an additional 60,489 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on GLPI. Morgan Stanley cut shares of 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 report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Gaming and Leisure Properties from a "hold" rating to a "buy" rating and lifted their price objective for the company from $49.00 to $54.00 in a report on Wednesday, November 20th. Mizuho dropped their price objective on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a "neutral" rating for the company in a report on Thursday, November 14th. Wells Fargo & Company lifted their price target on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the stock an "equal weight" rating in a research note on Monday. Finally, JPMorgan Chase & Co. upgraded shares of Gaming and Leisure Properties from a "neutral" rating to an "overweight" rating and lifted 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.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $53.96.
Read Our Latest Stock Report on GLPI
Insider Activity
In other news, Director E Scott Urdang sold 5,000 shares of Gaming and Leisure Properties 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 transaction, the director now directly owns 140,953 shares of the company's stock, valued at $7,173,098.17. The trade was a 3.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Matthew Demchyk sold 1,149 shares of Gaming and Leisure Properties stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $47.80, for a total transaction of $54,922.20. Following the completion of the transaction, the senior vice president now directly owns 91,620 shares in the company, valued at $4,379,436. The trade was a 1.24 % decrease in their ownership of the stock. 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 ninety days. 4.37% of the stock is currently owned by company insiders.
Gaming and Leisure Properties Stock Down 0.7 %
Shares of NASDAQ:GLPI opened at $49.41 on Friday. The company has a market capitalization of $13.58 billion, a PE ratio of 17.22, a P/E/G 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. Gaming and Leisure Properties, Inc. has a twelve month low of $41.80 and a twelve month high of $52.60. The firm has a 50 day simple moving average of $48.67 and a 200-day simple moving average of $49.81.
Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) 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 the consensus estimate of $0.94 by $0.01. The business had revenue of $389.62 million during the quarter, compared to the consensus estimate of $391.54 million. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. On average, equities analysts predict that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.
Gaming and Leisure Properties Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.15%. Gaming and Leisure Properties's payout ratio is 105.92%.
About Gaming and Leisure Properties
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding GLPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report).
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