BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $1.11 Million Stock Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 12.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 24,624 shares of the real estate investment trust’s stock after selling 3,585 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Gaming and Leisure Properties were worth $1,113,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in shares of Gaming and Leisure Properties by 1.0% in the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 63,910 shares of the real estate investment trust’s stock valued at $2,889,000 after purchasing an additional 610 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Gaming and Leisure Properties by 4.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 124,010 shares of the real estate investment trust’s stock valued at $5,606,000 after purchasing an additional 5,355 shares during the last quarter. Burney Co. boosted its position in Gaming and Leisure Properties by 4.0% in the second quarter. Burney Co. now owns 147,327 shares of the real estate investment trust’s stock valued at $6,661,000 after buying an additional 5,683 shares in the last quarter. Financial Advocates Investment Management grew its stake in shares of Gaming and Leisure Properties by 94.8% during the second quarter. Financial Advocates Investment Management now owns 8,517 shares of the real estate investment trust’s stock worth $385,000 after buying an additional 4,145 shares during the last quarter. Finally, Leisure Capital Management acquired a new position in shares of Gaming and Leisure Properties during the second quarter worth $516,000. Institutional investors own 91.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GLPI. StockNews.com raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Friday, July 19th. Scotiabank lifted their price target on Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 16th. Raymond James boosted their price target on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Wolfe Research upgraded shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a report on Friday, August 23rd. Finally, Wells Fargo & Company boosted their target price on shares of Gaming and Leisure Properties from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, August 26th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.11.

Insiders Place Their Bets

In other news, Director E Scott Urdang sold 5,605 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $48.89, for a total transaction of $274,028.45. Following the transaction, the director now owns 156,685 shares in the company, valued at $7,660,329.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the completion of the sale, the director now owns 156,685 shares of the company’s stock, valued at $7,660,329.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brandon John Moore sold 30,900 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $50.05, for a total value of $1,546,545.00. Following the transaction, the chief operating officer now directly owns 208,977 shares in the company, valued at $10,459,298.85. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company’s stock.

Gaming and Leisure Properties Stock Performance

GLPI stock opened at $52.02 on Tuesday. Gaming and Leisure Properties, Inc. has a 1-year low of $41.80 and a 1-year high of $52.13. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49. The stock has a 50-day moving average price of $48.31 and a 200-day moving average price of $45.91. The firm has a market cap of $14.12 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 5.45 and a beta of 0.98.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). The business had revenue of $380.60 million during the quarter, compared to the consensus estimate of $377.95 million. Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 earnings per share. As a group, equities research analysts expect that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 5.84%. The ex-dividend date of this dividend is Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio is presently 112.18%.

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.