Central Pacific Bank Trust Division Boosts Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Central Pacific Bank Trust Division raised its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 94.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,107 shares of the real estate investment trust’s stock after purchasing an additional 2,000 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Gaming and Leisure Properties were worth $198,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GLPI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Gaming and Leisure Properties by 647.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,025,526 shares of the real estate investment trust’s stock valued at $104,213,000 after buying an additional 1,754,370 shares during the period. Franklin Resources Inc. increased its position in shares of Gaming and Leisure Properties by 7.8% in the third quarter. Franklin Resources Inc. now owns 12,259,224 shares of the real estate investment trust’s stock worth $641,059,000 after acquiring an additional 889,698 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Gaming and Leisure Properties by 25.3% in the 3rd quarter. Jennison Associates LLC now owns 4,075,461 shares of the real estate investment trust’s stock valued at $209,682,000 after acquiring an additional 821,634 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Gaming and Leisure Properties by 6,162.9% during the 3rd quarter. Janus Henderson Group PLC now owns 812,981 shares of the real estate investment trust’s stock valued at $41,820,000 after acquiring an additional 800,000 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Gaming and Leisure Properties during the 3rd quarter worth $27,057,000. 91.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director E Scott Urdang sold 3,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $50.39, for a total transaction of $151,170.00. Following the completion of the transaction, the director now owns 146,800 shares in the company, valued at approximately $7,397,252. This represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.37% of the company’s stock.

Gaming and Leisure Properties Price Performance

Shares of GLPI opened at $47.86 on Friday. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. The firm has a market cap of $13.13 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 2.13 and a beta of 0.98. Gaming and Leisure Properties, Inc. has a 52 week low of $41.80 and a 52 week high of $52.60. The stock has a 50 day moving average of $49.60 and a 200-day moving average of $49.43.

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

Gaming and Leisure Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.76 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.04 dividend on an annualized basis and a yield of 6.35%. Gaming and Leisure Properties’s payout ratio is currently 106.29%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GLPI shares. JPMorgan Chase & Co. raised Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $49.00 to $54.00 in a research report on Friday, December 13th. Stifel Nicolaus boosted their price target on Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $52.00 price objective (up previously from $51.00) on shares of Gaming and Leisure Properties in a research report on Tuesday, October 1st. Barclays initiated coverage on shares of Gaming and Leisure Properties in a research report on Tuesday, December 17th. They set an “equal weight” rating and a $54.53 target price on the stock. Finally, Mizuho lowered their price target on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Gaming and Leisure Properties Company 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.