KBC Group NV Boosts Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

KBC Group NV raised its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 165.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 259,619 shares of the real estate investment trust’s stock after acquiring an additional 161,976 shares during the period. KBC Group NV owned approximately 0.09% of Gaming and Leisure Properties worth $12,503,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of GLPI. Segall Bryant & Hamill LLC purchased a new stake in Gaming and Leisure Properties in the third quarter valued at approximately $693,000. Sanctuary Advisors LLC raised its position in Gaming and Leisure Properties by 76.1% during the third quarter. Sanctuary Advisors LLC now owns 32,316 shares of the real estate investment trust’s stock valued at $1,646,000 after purchasing an additional 13,965 shares in the last quarter. Zacks Investment Management boosted its holdings in shares of Gaming and Leisure Properties by 10.9% in the 3rd quarter. Zacks Investment Management now owns 522,197 shares of the real estate investment trust’s stock worth $26,867,000 after purchasing an additional 51,398 shares in the last quarter. Cerity Partners LLC boosted its stake in Gaming and Leisure Properties by 87.5% in the third quarter. Cerity Partners LLC now owns 14,410 shares of the real estate investment trust’s stock worth $741,000 after buying an additional 6,724 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Gaming and Leisure Properties by 13.1% during the third quarter. JPMorgan Chase & Co. now owns 1,503,392 shares of the real estate investment trust’s stock worth $77,350,000 after acquiring an additional 173,810 shares in the last quarter. Institutional investors own 91.14% of the company’s stock.

Insider Buying and Selling

In other news, SVP Matthew Demchyk sold 17,617 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $49.40, for a total transaction of $870,279.80. Following the transaction, the senior vice president now directly owns 54,140 shares of the company’s stock, valued at $2,674,516. This represents a 24.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director E Scott Urdang sold 3,000 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $50.39, for a total value of $151,170.00. Following the sale, the director now directly owns 146,800 shares in the company, valued at $7,397,252. This trade represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,222 shares of company stock worth $1,776,117 in the last quarter. Corporate insiders own 4.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GLPI shares. Mizuho reduced their target price on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Morgan Stanley cut shares of Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 target price on the stock. in a report on Wednesday, January 15th. Barclays started 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 price target for the company. StockNews.com downgraded Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $55.00 price objective on shares of Gaming and Leisure Properties in a 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $53.93.

Gaming and Leisure Properties Price Performance

GLPI stock opened at $48.04 on Thursday. Gaming and Leisure Properties, Inc. has a 52-week low of $41.80 and a 52-week high of $52.60. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. The firm has a market capitalization of $13.18 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.96 and a beta of 0.99. The firm has a 50 day moving average price of $48.80 and a 200-day moving average price of $49.80.

Gaming and Leisure Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.76 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.04 annualized dividend and a dividend yield of 6.33%. Gaming and Leisure Properties’s payout ratio is presently 106.29%.

Gaming and Leisure Properties 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.