Balentine LLC purchased a new position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,258 shares of the real estate investment trust’s stock, valued at approximately $222,000.
A number of other institutional investors have also recently bought and sold shares of GLPI. EP Wealth Advisors LLC boosted its position in Gaming and Leisure Properties by 0.5% during the 3rd quarter. EP Wealth Advisors LLC now owns 41,877 shares of the real estate investment trust’s stock worth $1,853,000 after acquiring an additional 220 shares during the period. Signature Wealth Management Group lifted its holdings in shares of Gaming and Leisure Properties by 0.3% during the 3rd quarter. Signature Wealth Management Group now owns 80,124 shares of the real estate investment trust’s stock valued at $3,545,000 after buying an additional 225 shares during the last quarter. DNB Asset Management AS raised its stake in shares of Gaming and Leisure Properties by 0.8% in the 4th quarter. DNB Asset Management AS now owns 32,101 shares of the real estate investment trust’s stock valued at $1,672,000 after acquiring an additional 248 shares in the last quarter. Comerica Bank raised its stake in shares of Gaming and Leisure Properties by 3.3% in the 3rd quarter. Comerica Bank now owns 8,143 shares of the real estate investment trust’s stock valued at $374,000 after acquiring an additional 260 shares in the last quarter. Finally, First Republic Investment Management Inc. raised its stake in shares of Gaming and Leisure Properties by 1.8% in the 1st quarter. First Republic Investment Management Inc. now owns 18,616 shares of the real estate investment trust’s stock valued at $874,000 after acquiring an additional 334 shares in the last quarter. Hedge funds and other institutional investors own 90.69% of the company’s stock.
Insider Activity at Gaming and Leisure Properties
In other Gaming and Leisure Properties news, COO Brandon John Moore sold 3,000 shares of the stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $54.00, for a total value of $162,000.00. Following the completion of the sale, the chief operating officer now directly owns 215,981 shares in the company, valued at $11,662,974. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 bought at an average cost of $53.82 per share, with a total value of $53,820.00. Following the completion of the transaction, the director now directly owns 150,132 shares of the company’s stock, valued at $8,080,104.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brandon John Moore sold 3,000 shares of the company’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $54.00, for a total value of $162,000.00. Following the transaction, the chief operating officer now directly owns 215,981 shares of the company’s stock, valued at $11,662,974. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.
Gaming and Leisure Properties Trading Up 1.6 %
Gaming and Leisure Properties Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Investors of record on Friday, March 10th were issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 7.51%. The ex-dividend date was Thursday, March 9th. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.71. Gaming and Leisure Properties’s dividend payout ratio is currently 107.06%.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the company. Raymond James lifted their price target on Gaming and Leisure Properties from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, April 6th. StockNews.com assumed coverage on Gaming and Leisure Properties in a research note on Thursday, March 16th. They issued a “buy” rating on the stock. Truist Financial raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and boosted their price target for the company from $54.00 to $60.00 in a research note on Wednesday, January 11th. Finally, JMP Securities reissued a “market outperform” rating and issued a $57.00 price objective on shares of Gaming and Leisure Properties in a research note on Tuesday, March 21st. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $56.80.
Gaming and Leisure Properties Company Profile
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.
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