KBC Group NV Increases Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

KBC Group NV grew its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 162.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 97,643 shares of the real estate investment trust's stock after buying an additional 60,489 shares during the period. KBC Group NV's holdings in Gaming and Leisure Properties were worth $5,024,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GLPI. Victory Capital Management Inc. raised its position in Gaming and Leisure Properties by 0.6% in the 3rd quarter. Victory Capital Management Inc. now owns 798,922 shares of the real estate investment trust's stock valued at $41,105,000 after buying an additional 5,037 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Gaming and Leisure Properties in the third quarter valued at approximately $3,321,000. Versor Investments LP lifted its position in shares of Gaming and Leisure Properties by 109.4% in the third quarter. Versor Investments LP now owns 41,732 shares of the real estate investment trust's stock worth $2,147,000 after purchasing an additional 21,800 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Gaming and Leisure Properties during the third quarter worth $3,215,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in Gaming and Leisure Properties in the third quarter valued at $217,000. Institutional investors own 91.14% of the company's stock.

Insider Transactions at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 3,000 shares of the business's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $50.39, for a total value of $151,170.00. Following the completion of the sale, the director now directly owns 146,800 shares in the company, valued at approximately $7,397,252. The trade was a 2.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Desiree A. Burke sold 12,973 shares of the company's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $52.02, for a total transaction of $674,855.46. Following the sale, the chief financial officer now owns 108,073 shares of the company's stock, valued at approximately $5,621,957.46. The trade was a 10.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,758 shares of company stock valued at $2,717,922. 4.37% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GLPI has been the topic of a number of recent research reports. JMP Securities reaffirmed a "market outperform" rating and issued a $55.00 target price on shares of Gaming and Leisure Properties in a research report on Tuesday, October 29th. Mizuho cut their target price on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a "neutral" rating for the company in a research note on Thursday. Raymond James upped their price target on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an "outperform" rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a "hold" rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $52.00 target price (up previously from $51.00) on shares of Gaming and Leisure Properties in a research report on Tuesday, October 1st. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $52.54.

Gaming and Leisure Properties Stock Performance

Shares of Gaming and Leisure Properties stock traded up $0.18 on Monday, reaching $49.37. 533,014 shares of the company traded hands, compared to its average volume of 1,311,570. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35. The firm has a market capitalization of $13.55 billion, a PE ratio of 17.20, a PEG ratio of 2.12 and a beta of 0.99. The company has a 50 day moving average of $50.74 and a 200 day moving average of $48.22. Gaming and Leisure Properties, Inc. has a 52 week low of $41.80 and a 52 week high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last released its earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.25). Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The firm had revenue of $385.34 million during the quarter, compared to analysts' expectations of $385.09 million. During the same period in the prior year, the business earned $0.92 earnings per share. The business's quarterly revenue was up 7.2% compared to the same quarter last year. Equities analysts forecast that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current year.

Gaming and Leisure Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 6.16%. The ex-dividend date was Friday, September 13th. Gaming and Leisure Properties's dividend payout ratio (DPR) is presently 106.29%.

Gaming and Leisure Properties Profile

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.