Resona Asset Management Co. Ltd. Takes $7.24 Million Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Resona Asset Management Co. Ltd. purchased a new stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 151,021 shares of the real estate investment trust's stock, valued at approximately $7,240,000. Resona Asset Management Co. Ltd. owned about 0.06% of Gaming and Leisure Properties as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. US Bancorp DE increased its stake in shares of Gaming and Leisure Properties by 106.2% in the 4th quarter. US Bancorp DE now owns 44,745 shares of the real estate investment trust's stock valued at $2,155,000 after buying an additional 23,050 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in Gaming and Leisure Properties by 11.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 24,560 shares of the real estate investment trust's stock worth $1,183,000 after purchasing an additional 2,498 shares during the period. Aew Capital Management L P raised its holdings in Gaming and Leisure Properties by 1,786.5% during the 4th quarter. Aew Capital Management L P now owns 761,600 shares of the real estate investment trust's stock worth $36,679,000 after purchasing an additional 721,230 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Gaming and Leisure Properties during the 4th quarter worth about $49,188,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Gaming and Leisure Properties in the 4th quarter valued at about $768,000. 91.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GLPI has been the subject of a number of recent research reports. Wells Fargo & Company boosted 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, March 10th. Barclays dropped their target price 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. Morgan Stanley lowered Gaming and Leisure Properties from an "overweight" rating to an "equal weight" rating and set a $53.00 price target on the stock. in a research report on Wednesday, January 15th. Royal Bank of Canada dropped their price objective on Gaming and Leisure Properties from $57.00 to $56.00 and set an "outperform" rating for the company in a report on Monday, February 24th. Finally, Scotiabank reduced their target price on Gaming and Leisure Properties from $50.00 to $49.00 and set a "sector perform" rating on the stock in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.11.

Insider Buying and Selling

In related news, SVP Matthew Demchyk sold 10,474 shares of Gaming and Leisure Properties stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $48.62, for a total value of $509,245.88. Following the sale, the senior vice president now owns 71,757 shares of the company's stock, valued at approximately $3,488,825.34. The trade was a 12.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director E Scott Urdang sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $49.72, for a total value of $248,600.00. Following the transaction, the director now directly owns 145,953 shares of the company's stock, valued at $7,256,783.16. This trade represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,933 shares of company stock worth $2,533,487. 4.37% of the stock is owned by insiders.

Gaming and Leisure Properties Stock Up 1.7 %

NASDAQ GLPI traded up $0.79 on Friday, reaching $47.68. The company had a trading volume of 1,724,101 shares, compared to its average volume of 1,245,567. The company's fifty day moving average is $49.42 and its 200-day moving average is $49.45. Gaming and Leisure Properties, Inc. has a 1-year low of $41.80 and a 1-year high of $52.60. The firm has a market capitalization of $13.10 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 2.01 and a beta of 0.72. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 17.41% and a net margin of 51.65%. On average, research analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.38%. The ex-dividend date was Friday, March 14th. Gaming and Leisure Properties's dividend payout ratio is presently 105.92%.

Gaming and Leisure Properties 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.