Bank of America Corp DE Sells 90,335 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Bank of America Corp DE decreased its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,277,522 shares of the real estate investment trust's stock after selling 90,335 shares during the period. Bank of America Corp DE owned approximately 0.47% of Gaming and Leisure Properties worth $61,525,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Dodge & Cox grew its position in Gaming and Leisure Properties by 75.3% in the 4th quarter. Dodge & Cox now owns 13,498,634 shares of the real estate investment trust's stock worth $650,094,000 after purchasing an additional 5,797,299 shares during the last quarter. Franklin Resources Inc. grew its position in Gaming and Leisure Properties by 4.7% in the 4th quarter. Franklin Resources Inc. now owns 12,830,944 shares of the real estate investment trust's stock worth $617,938,000 after purchasing an additional 571,720 shares during the last quarter. Geode Capital Management LLC grew its position in Gaming and Leisure Properties by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 6,245,884 shares of the real estate investment trust's stock worth $300,395,000 after purchasing an additional 165,024 shares during the last quarter. Jennison Associates LLC grew its position in Gaming and Leisure Properties by 5.2% in the 4th quarter. Jennison Associates LLC now owns 4,287,118 shares of the real estate investment trust's stock worth $206,468,000 after purchasing an additional 211,657 shares during the last quarter. Finally, Norges Bank bought a new position in Gaming and Leisure Properties in the 4th quarter worth about $176,123,000. Institutional investors own 91.14% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on GLPI. Barclays increased their price objective on shares of Gaming and Leisure Properties from $53.00 to $54.00 and gave the company an "equal weight" rating in a report on Tuesday, April 22nd. Mizuho increased their price objective on shares of Gaming and Leisure Properties from $51.00 to $53.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Royal Bank of Canada decreased their price objective on shares of Gaming and Leisure Properties from $56.00 to $54.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Macquarie reiterated an "outperform" rating and issued a $60.00 price objective on shares of Gaming and Leisure Properties in a report on Friday, April 25th. Finally, Wells Fargo & Company increased their price objective on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $54.63.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, SVP Matthew Demchyk sold 1,138 shares of Gaming and Leisure Properties stock in a transaction on Friday, February 28th. The shares were sold at an average price of $50.45, for a total transaction of $57,412.10. Following the completion of the sale, the senior vice president now owns 53,002 shares of the company's stock, valued at $2,673,950.90. This trade represents a 2.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director E Scott Urdang sold 5,000 shares of Gaming and Leisure Properties stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $49.72, for a total transaction of $248,600.00. Following the sale, the director now directly owns 145,953 shares of the company's stock, valued at $7,256,783.16. This trade represents a 3.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,842 shares of company stock valued at $1,153,961 in the last three months. 4.26% of the stock is currently owned by company insiders.

Gaming and Leisure Properties Price Performance

NASDAQ:GLPI traded up $0.72 during trading hours on Friday, reaching $47.61. 2,115,409 shares of the company's stock were exchanged, compared to its average volume of 1,293,670. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $13.08 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 2.01 and a beta of 0.81. Gaming and Leisure Properties, Inc. has a 12 month low of $42.86 and a 12 month high of $52.60. The business's 50-day simple moving average is $48.55 and its two-hundred day simple moving average is $48.90.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. The company had revenue of $395.24 million for the quarter, compared to the consensus estimate of $396.27 million. During the same period in the previous year, the business earned $0.92 EPS. The company's revenue was up 5.1% on a year-over-year basis. Sell-side analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.78 per share. This is an increase from Gaming and Leisure Properties's previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a yield of 6.55%. Gaming and Leisure Properties's payout ratio is 108.19%.

Gaming and Leisure Properties Company Profile

Gaming & Leisure Properties, Inc engages in the provision of 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.