Wesbanco Bank Inc. Invests $474,000 in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Posted by Defense World Staff on Mar 28th, 2023

Wesbanco Bank Inc. bought a new position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Get Rating) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,100 shares of the real estate investment trust’s stock, valued at approximately $474,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its position in Gaming and Leisure Properties by 118.0% during the second quarter. Quadrant Capital Group LLC now owns 665 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 360 shares during the period. Zions Bancorporation N.A. bought a new position in Gaming and Leisure Properties during the first quarter valued at approximately $43,000. Destiny Wealth Partners LLC bought a new position in Gaming and Leisure Properties during the third quarter valued at approximately $44,000. CWM LLC lifted its position in Gaming and Leisure Properties by 50.9% during the third quarter. CWM LLC now owns 1,005 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 339 shares during the period. Finally, AdvisorNet Financial Inc bought a new position in Gaming and Leisure Properties during the third quarter valued at approximately $49,000. Institutional investors own 90.69% of the company’s stock.

Wall Street Analysts Forecast Growth

GLPI has been the topic of a number of research analyst reports. JMP Securities restated a “market outperform” rating and set a $57.00 price objective on shares of Gaming and Leisure Properties in a research report on Tuesday, March 21st. KeyCorp increased their price objective on shares of Gaming and Leisure Properties from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, November 30th. Truist Financial upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and increased their price target for the stock from $54.00 to $60.00 in a research report on Wednesday, January 11th. StockNews.com started coverage on shares of Gaming and Leisure Properties in a research report on Thursday, March 16th. They issued a “buy” rating on the stock. Finally, Raymond James downgraded shares of Gaming and Leisure Properties from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $57.00 to $55.00 in a research report on Monday, January 9th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $56.60.

Insider Transactions at Gaming and Leisure Properties

In other news, Director E Scott Urdang acquired 1,000 shares of Gaming and Leisure Properties stock in a transaction dated Wednesday, March 1st. The stock was purchased at an average cost of $53.82 per share, with a total value of $53,820.00. Following the completion of the purchase, the director now directly owns 150,132 shares in the company, valued at approximately $8,080,104.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director E Scott Urdang bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was bought at an average cost of $53.82 per share, with a total value of $53,820.00. Following the completion of the purchase, the director now owns 150,132 shares of the company’s stock, valued at approximately $8,080,104.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Matthew Demchyk sold 1,961 shares of the firm’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $52.27, for a total transaction of $102,501.47. Following the transaction, the senior vice president now directly owns 34,316 shares of the company’s stock, valued at $1,793,697.32. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ GLPI opened at $49.58 on Tuesday. The firm has a fifty day moving average price of $52.41 and a 200-day moving average price of $50.64. The company has a debt-to-equity ratio of 1.50, a current ratio of 2.50 and a quick ratio of 2.50. The stock has a market cap of $13.01 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 4.52 and a beta of 0.99. Gaming and Leisure Properties, Inc. has a 1 year low of $41.97 and a 1 year high of $55.13.

Gaming and Leisure Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, March 10th were paid a $0.97 dividend. The ex-dividend date was Thursday, March 9th. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.71. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.83%. Gaming and Leisure Properties’s dividend payout ratio is 107.06%.

Gaming and Leisure Properties Profile

(Get Rating)

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.