Bank of New York Mellon Corp Increases Stock Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Bank of New York Mellon Corp grew its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 15.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,981,567 shares of the real estate investment trust’s stock after buying an additional 394,069 shares during the quarter. Bank of New York Mellon Corp’s holdings in Gaming and Leisure Properties were worth $143,592,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Franklin Resources Inc. boosted its holdings in shares of Gaming and Leisure Properties by 7.8% during the 3rd quarter. Franklin Resources Inc. now owns 12,259,224 shares of the real estate investment trust’s stock valued at $641,059,000 after acquiring an additional 889,698 shares during the last quarter. State Street Corp boosted its holdings in shares of Gaming and Leisure Properties by 1.4% during the 3rd quarter. State Street Corp now owns 12,135,195 shares of the real estate investment trust’s stock valued at $624,356,000 after acquiring an additional 162,484 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Gaming and Leisure Properties by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,080,860 shares of the real estate investment trust’s stock worth $312,316,000 after buying an additional 161,689 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Gaming and Leisure Properties by 5.2% in the fourth quarter. Jennison Associates LLC now owns 4,287,118 shares of the real estate investment trust’s stock worth $206,468,000 after buying an additional 211,657 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Gaming and Leisure Properties by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,327,466 shares of the real estate investment trust’s stock worth $171,198,000 after buying an additional 96,028 shares during the last quarter. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Insider Activity

In related news, SVP Matthew Demchyk sold 17,617 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $49.40, for a total value of $870,279.80. Following the sale, the senior vice president now owns 54,140 shares in the company, valued at approximately $2,674,516. The trade was a 24.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Brandon John Moore sold 3,982 shares of the business’s stock in a transaction 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 completion of the sale, the chief operating officer now owns 278,634 shares in the company, valued at $13,329,850.56. This represents a 1.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,222 shares of company stock worth $1,873,547 over the last quarter. Insiders own 4.37% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on GLPI. Barclays began coverage on shares of Gaming and Leisure Properties in a report on Tuesday, December 17th. They issued an “equal weight” rating and a $54.53 price objective on the stock. Mizuho dropped their price objective 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. Royal Bank of Canada dropped their price objective on shares of Gaming and Leisure Properties from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. Morgan Stanley downgraded shares of Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price objective on the stock. in a report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. raised shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $49.00 to $54.00 in a report on Friday, December 13th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.15.

Gaming and Leisure Properties Trading Up 0.5 %

Gaming and Leisure Properties stock opened at $50.15 on Friday. The stock has a market cap of $13.78 billion, a P/E ratio of 17.47, a PEG ratio of 2.01 and a beta of 0.99. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35. Gaming and Leisure Properties, Inc. has a 1 year low of $41.80 and a 1 year high of $52.60. The firm’s 50 day moving average price is $48.25 and its 200-day moving average price is $49.77.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.01. The firm had revenue of $389.62 million for the quarter, compared to analysts’ expectations of $391.54 million. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. On average, equities analysts predict that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 6.06%. The ex-dividend date is Friday, March 14th. Gaming and Leisure Properties’s payout ratio is currently 105.92%.

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.