Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Bought by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division raised its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 94.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,107 shares of the real estate investment trust’s stock after purchasing an additional 2,000 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Gaming and Leisure Properties were worth $198,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Assetmark Inc. grew its position in Gaming and Leisure Properties by 2,547.6% in the 3rd 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 during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Gaming and Leisure Properties in the second quarter valued at about $31,000. Farther Finance Advisors LLC increased its stake in shares of Gaming and Leisure Properties by 142.2% during the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 384 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Gaming and Leisure Properties by 578.4% during the second quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 590 shares in the last quarter. Finally, Abich Financial Wealth Management LLC lifted its position in Gaming and Leisure Properties by 3,191.3% in the third quarter. Abich Financial Wealth Management LLC now owns 757 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 734 shares during the period. Institutional investors and hedge funds own 91.14% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GLPI shares. JMP Securities reissued a “market outperform” rating and set a $55.00 target price on shares of Gaming and Leisure Properties in a research note on Wednesday, December 18th. Mizuho reduced their target price on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. StockNews.com cut shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and raised their price objective for the company from $49.00 to $54.00 in a research note on Wednesday, November 20th. Finally, 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 target price on the stock. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Insider Activity

In related news, Director E Scott Urdang sold 3,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $7,397,252. This trade represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.37% of the company’s stock.

Gaming and Leisure Properties Trading Up 0.2 %

Gaming and Leisure Properties stock opened at $47.86 on Friday. The stock has a 50-day moving average price of $49.60 and a 200 day moving average price of $49.43. Gaming and Leisure Properties, Inc. has a 52 week low of $41.80 and a 52 week high of $52.60. The stock has a market cap of $13.13 billion, a PE ratio of 16.73, a P/E/G ratio of 2.13 and a beta of 0.98. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The firm had revenue of $385.34 million for the quarter, compared to analysts’ expectations of $385.09 million. During the same quarter last year, the firm earned $0.92 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts predict that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The firm also recently disclosed 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. This represents a $3.04 annualized dividend and a dividend yield of 6.35%. The ex-dividend date was Friday, December 6th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 106.29%.

Gaming and Leisure Properties 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.