PNC Financial Services Group Inc. Grows Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

PNC Financial Services Group Inc. raised its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 9.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 10,308 shares of the real estate investment trust’s stock after purchasing an additional 884 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Gaming and Leisure Properties were worth $496,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GLPI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Gaming and Leisure Properties by 647.0% during 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 worth $104,213,000 after buying an additional 1,754,370 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth $49,188,000. Franklin Resources Inc. grew its holdings in shares of Gaming and Leisure Properties by 7.8% during 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 buying an additional 889,698 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Gaming and Leisure Properties by 25.3% during the third quarter. Jennison Associates LLC now owns 4,075,461 shares of the real estate investment trust’s stock worth $209,682,000 after buying an additional 821,634 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Gaming and Leisure Properties by 6,162.9% during the third quarter. Janus Henderson Group PLC now owns 812,981 shares of the real estate investment trust’s stock worth $41,820,000 after buying an additional 800,000 shares in the last quarter. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Up 0.6 %

Shares of NASDAQ:GLPI opened at $50.87 on Thursday. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35. The firm has a market capitalization of $13.98 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00. The firm’s 50-day moving average is $48.96 and its two-hundred day moving average is $49.77. Gaming and Leisure Properties, Inc. has a 1 year low of $41.80 and a 1 year high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings results 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 company had revenue of $389.62 million for the quarter, compared to analyst estimates of $391.54 million. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. Analysts predict that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.04 dividend on an annualized basis and a yield of 5.98%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 105.92%.

Insiders Place Their Bets

In related news, Director E Scott Urdang sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $50.89, for a total transaction of $254,450.00. Following the sale, the director now directly owns 140,953 shares in the company, valued at approximately $7,173,098.17. This represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brandon John Moore sold 3,982 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $47.84, for a total transaction of $190,498.88. Following the sale, the chief operating officer now owns 278,634 shares in the company, valued at $13,329,850.56. The trade was a 1.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,064 shares of company stock worth $2,778,908 over the last three months. Company insiders own 4.37% of the company’s stock.

Wall Street Analysts Forecast Growth

GLPI has been the topic of several recent research reports. Scotiabank lowered their price target on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. raised shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $49.00 to $54.00 in a research report on Friday, December 13th. Royal Bank of Canada lowered their price target on shares of Gaming and Leisure Properties from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. Stifel Nicolaus boosted their price target on shares of Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, JMP Securities reissued a “market outperform” rating and set a $55.00 price target on shares of Gaming and Leisure Properties in a research report on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and a consensus price target of $53.96.

Gaming and Leisure Properties Company 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.