Bank of America Corp DE Reduces Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Bank of America Corp DE lessened its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent filing with the Securities & 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 0.47% of Gaming and Leisure Properties worth $61,525,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Stonebridge Financial Group LLC purchased a new position in Gaming and Leisure Properties during the 4th quarter valued at about $31,000. CKW Financial Group lifted its position in shares of Gaming and Leisure Properties by 75.0% in the 4th 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. Quarry LP boosted its stake in shares of Gaming and Leisure Properties by 52.5% during the 4th quarter. Quarry LP now owns 979 shares of the real estate investment trust's stock valued at $47,000 after purchasing an additional 337 shares in the last quarter. Bessemer Group Inc. raised its stake in Gaming and Leisure Properties by 149.8% in the fourth quarter. Bessemer Group Inc. now owns 1,029 shares of the real estate investment trust's stock worth $49,000 after buying an additional 617 shares in the last quarter. Finally, Parvin Asset Management LLC purchased a new position in shares of Gaming and Leisure Properties in the 4th quarter valued at approximately $53,000. Hedge funds and other institutional investors own 91.14% of the company's stock.

Insider Activity

In other Gaming and Leisure Properties news, SVP Matthew Demchyk sold 1,138 shares of the business's 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 directly owns 53,002 shares in the company, valued at approximately $2,673,950.90. The trade was a 2.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director E Scott Urdang sold 5,000 shares of Gaming and Leisure Properties stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $50.89, for a total value of $254,450.00. Following the completion of the sale, the director now directly owns 140,953 shares of the company's stock, valued at $7,173,098.17. The trade was a 3.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,842 shares of company stock valued at $1,153,961 over the last three months. Insiders own 4.26% of the company's stock.

Gaming and Leisure Properties Stock Up 1.5%

GLPI stock traded up $0.72 during midday trading on Friday, hitting $47.61. The company's stock had a trading volume of 2,115,409 shares, compared to its average volume of 1,290,528. The firm's 50-day moving average is $48.61 and its 200-day moving average is $48.95. 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, Inc. has a 12 month low of $42.86 and a 12 month high of $52.60. The company has a market cap of $13.08 billion, a PE ratio of 16.59, a P/E/G ratio of 2.01 and a beta of 0.81.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. The company had revenue of $395.24 million for the quarter, compared to analysts' expectations of $396.27 million. During the same period last year, the firm posted $0.92 earnings per share. Gaming and Leisure Properties's revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $0.78 dividend. This is a positive change from Gaming and Leisure Properties's previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.55%. Gaming and Leisure Properties's payout ratio is currently 108.19%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GLPI shares. Scotiabank reduced their price target on Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating on the stock in a research note on Monday. Royal Bank of Canada reduced their target price on shares of Gaming and Leisure Properties from $56.00 to $54.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Mizuho lifted their price target on shares of Gaming and Leisure Properties from $51.00 to $53.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Wells Fargo & Company boosted their price objective on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Finally, Barclays raised their target price on shares of Gaming and Leisure Properties from $53.00 to $54.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.63.

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.