Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 4.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,964 shares of the real estate investment trust’s stock after selling 6,392 shares during the period. Truist Financial Corp’s holdings in Gaming and Leisure Properties were worth $5,604,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. boosted its position in Gaming and Leisure Properties by 27.4% during the first quarter. Russell Investments Group Ltd. now owns 309,882 shares of the real estate investment trust’s stock valued at $14,276,000 after purchasing an additional 66,601 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Gaming and Leisure Properties in the first quarter worth about $2,396,000. Wellington Management Group LLP increased its stake in shares of Gaming and Leisure Properties by 40.8% in the fourth quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust’s stock worth $627,204,000 after purchasing an additional 3,684,553 shares during the period. Lasalle Investment Management Securities LLC increased its stake in Gaming and Leisure Properties by 1.5% during the first quarter. Lasalle Investment Management Securities LLC now owns 1,479,756 shares of the real estate investment trust’s stock valued at $68,172,000 after acquiring an additional 21,667 shares during the period. Finally, Manning & Napier Advisors LLC bought a new position in Gaming and Leisure Properties during the second quarter valued at about $3,165,000. Institutional investors and hedge funds own 91.14% of the company’s stock.

Gaming and Leisure Properties Price Performance

NASDAQ:GLPI opened at $51.00 on Tuesday. The stock’s fifty day moving average price is $50.66 and its two-hundred day moving average price is $46.94. 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 1.49, a quick ratio of 5.91 and a current ratio of 5.91. The company has a market cap of $13.85 billion, a price-to-earnings ratio of 18.82, a P/E/G ratio of 5.36 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.15). The firm had revenue of $380.60 million for the quarter, compared to analyst estimates of $377.95 million. Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 EPS. On average, analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 5.96%. The ex-dividend date was Friday, September 13th. Gaming and Leisure Properties’s payout ratio is 112.18%.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $48.89, for a total transaction of $274,028.45. Following the completion of the sale, the director now owns 156,685 shares in the company, valued at approximately $7,660,329.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director E Scott Urdang sold 5,605 shares of the company’s stock in a transaction on Monday, August 12th. The shares were 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 in the company, valued at $7,660,329.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Brandon John Moore sold 30,900 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the completion of the sale, the chief operating officer now owns 208,977 shares of the company’s stock, valued at approximately $10,459,298.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,478 shares of company stock worth $2,495,429. Insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus upped their price objective on Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a “buy” rating in a research note on Friday, July 26th. StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Friday, July 19th. Royal Bank of Canada upped their price objective on Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Wells Fargo & Company reissued an “equal weight” rating and issued a $52.00 target price (up from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Finally, Wolfe Research raised Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a report on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and a consensus target price of $52.18.

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.