Truist Financial Corp Has $5.73 Million Stock Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Truist Financial Corp raised its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 4.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 118,923 shares of the real estate investment trust’s stock after buying an additional 5,215 shares during the period. Truist Financial Corp’s holdings in Gaming and Leisure Properties were worth $5,727,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GLPI. Assetmark Inc. boosted its position in Gaming and Leisure Properties by 2,547.6% in the third quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 535 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in Gaming and Leisure Properties in the fourth quarter valued at approximately $31,000. Farther Finance Advisors LLC boosted its position in Gaming and Leisure Properties by 142.2% in the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 384 shares in the last quarter. CKW Financial Group lifted its holdings in shares of Gaming and Leisure Properties by 75.0% during the fourth quarter. CKW Financial Group now owns 700 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 300 shares during the period. Finally, Abich Financial Wealth Management LLC lifted its holdings in shares of Gaming and Leisure Properties by 3,191.3% during the third quarter. Abich Financial Wealth Management LLC now owns 757 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 734 shares during the period. Institutional investors and hedge funds own 91.14% of the company’s stock.

Gaming and Leisure Properties Trading Down 0.6 %

GLPI opened at $49.11 on Friday. Gaming and Leisure Properties, Inc. has a 1-year low of $41.80 and a 1-year high of $52.60. 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 company has a market cap of $13.47 billion, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 2.01 and a beta of 0.99. The company has a fifty day moving average price of $48.14 and a two-hundred day moving average price of $49.77.

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

Gaming and Leisure Properties Announces Dividend

The business 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 $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 6.19%. The ex-dividend date of this dividend is Friday, March 14th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 105.92%.

Wall Street Analyst Weigh In

GLPI has been the topic of a number of recent research reports. JMP Securities reiterated a “market outperform” rating and set a $55.00 price target on shares of Gaming and Leisure Properties in a report on Wednesday, December 18th. Morgan Stanley lowered shares of Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price target on the stock. in a report on Wednesday, January 15th. Mizuho cut their price target 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. JPMorgan Chase & Co. upgraded shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $49.00 to $54.00 in a report on Friday, December 13th. Finally, Barclays initiated coverage on shares of Gaming and Leisure Properties in a report on Tuesday, December 17th. They set an “equal weight” rating and a $54.53 price target on the stock. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.93.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, COO Brandon John Moore sold 3,982 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were 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 directly owns 278,634 shares of the company’s stock, valued at $13,329,850.56. The trade was a 1.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Matthew Demchyk sold 1,149 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $47.80, for a total transaction of $54,922.20. Following the sale, the senior vice president now directly owns 91,620 shares of the company’s stock, valued at approximately $4,379,436. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,222 shares of company stock valued at $1,624,947. Corporate insiders own 4.37% of the company’s stock.

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.