Truist Financial Corp Boosts Stock Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Truist Financial Corp raised its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 118,923 shares of the real estate investment trust's stock after purchasing an additional 5,215 shares during the quarter. Truist Financial Corp's holdings in Gaming and Leisure Properties were worth $5,727,000 as of its most recent SEC filing.

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

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Gaming and Leisure Properties Stock Up 0.3 %

NASDAQ GLPI traded up $0.14 during trading on Wednesday, hitting $49.63. The stock had a trading volume of 302,070 shares, compared to its average volume of 1,031,394. The company has a market capitalization of $13.62 billion, a PE ratio of 17.28, a P/E/G ratio of 2.01 and a beta of 0.99. Gaming and Leisure Properties, Inc. has a 12 month low of $41.80 and a 12 month high of $52.60. The company's 50-day moving average price is $48.13 and its two-hundred day moving average price is $49.77. 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 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 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%. As a group, sell-side analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The business 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 $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 6.12%. The ex-dividend date is Friday, March 14th. Gaming and Leisure Properties's dividend payout ratio (DPR) is presently 105.92%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Gaming and Leisure Properties from a "hold" rating to a "buy" rating and upped their target price for the company from $49.00 to $54.00 in a research report on Wednesday, November 20th. Morgan Stanley cut shares of Gaming and Leisure Properties from an "overweight" rating to an "equal weight" rating and set a $53.00 price target for the company. in a report on Wednesday, January 15th. Stifel Nicolaus lifted their price objective on Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a "buy" rating in a report on Tuesday, November 26th. Royal Bank of Canada reduced their price target 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. Finally, Scotiabank cut their price target on Gaming and Leisure Properties from $50.00 to $49.00 and set a "sector perform" rating for the company in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Gaming and Leisure Properties currently has an average rating of "Moderate Buy" and a consensus target price of $54.15.

Insiders Place Their Bets

In related news, COO Brandon John Moore sold 3,982 shares of Gaming and Leisure Properties stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $47.84, for a total value of $190,498.88. Following the sale, the chief operating officer now owns 278,634 shares of the company's stock, valued at approximately $13,329,850.56. The trade was a 1.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Matthew Demchyk sold 17,617 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $49.40, for a total value of $870,279.80. Following the transaction, the senior vice president now directly owns 54,140 shares of the company's stock, valued at approximately $2,674,516. This trade represents a 24.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,222 shares of company stock valued at $1,624,947 in the last 90 days. 4.37% of the stock is currently owned by corporate insiders.

About Gaming and Leisure Properties

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.