Bank of New York Mellon Corp Trims Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Bank of New York Mellon Corp decreased its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 1.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,939,297 shares of the real estate investment trust's stock after selling 42,270 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.07% of Gaming and Leisure Properties worth $149,610,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GLPI. GF Fund Management CO. LTD. boosted its position in shares of Gaming and Leisure Properties by 4.2% during the 1st quarter. GF Fund Management CO. LTD. now owns 5,197 shares of the real estate investment trust's stock valued at $265,000 after acquiring an additional 211 shares during the last quarter. Pure Financial Advisors LLC lifted its position in Gaming and Leisure Properties by 2.6% in the 1st quarter. Pure Financial Advisors LLC now owns 8,676 shares of the real estate investment trust's stock worth $442,000 after buying an additional 221 shares during the last quarter. Freedom Investment Management Inc. lifted its position in Gaming and Leisure Properties by 3.8% in the 4th quarter. Freedom Investment Management Inc. now owns 6,063 shares of the real estate investment trust's stock worth $292,000 after buying an additional 222 shares during the last quarter. Seeds Investor LLC lifted its position in Gaming and Leisure Properties by 3.6% in the 4th quarter. Seeds Investor LLC now owns 7,350 shares of the real estate investment trust's stock worth $354,000 after buying an additional 254 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in Gaming and Leisure Properties by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 56,181 shares of the real estate investment trust's stock worth $2,860,000 after buying an additional 300 shares during the last quarter. Institutional investors own 91.14% of the company's stock.

Analyst Upgrades and Downgrades

GLPI has been the subject of a number of recent research reports. Wells Fargo & Company dropped their target price on Gaming and Leisure Properties from $51.00 to $49.00 and set an "equal weight" rating for the company in a research report on Monday, June 2nd. Macquarie reissued an "outperform" rating and set a $60.00 target price on shares of Gaming and Leisure Properties in a research note on Friday, April 25th. Scotiabank dropped 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 report on Monday, May 12th. Mizuho dropped their target price on Gaming and Leisure Properties from $53.00 to $48.00 and set a "neutral" rating on the stock in a report on Monday, June 16th. Finally, Royal Bank Of Canada lowered their price target on Gaming and Leisure Properties from $56.00 to $54.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $54.17.

Insiders Place Their Bets

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $46.58, for a total transaction of $186,320.00. Following the completion of the transaction, the director owned 136,953 shares in the company, valued at $6,379,270.74. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.26% of the stock is owned by corporate insiders.

Gaming and Leisure Properties Stock Performance

GLPI stock traded down $0.42 during trading on Friday, reaching $47.80. The stock had a trading volume of 1,507,466 shares, compared to its average volume of 1,350,228. Gaming and Leisure Properties, Inc. has a 52 week low of $44.48 and a 52 week high of $52.60. The stock's 50 day moving average is $46.81 and its two-hundred day moving average is $48.10. The company has a current ratio of 4.12, a quick ratio of 4.12 and a debt-to-equity ratio of 1.51. The firm has a market cap of $13.14 billion, a PE ratio of 17.01, a PEG ratio of 3.31 and a beta of 0.72.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 EPS for the quarter, hitting analysts' consensus estimates of $0.96. The business had revenue of $395.24 million during the quarter, compared to analysts' expectations of $396.27 million. Gaming and Leisure Properties had a return on equity of 17.02% and a net margin of 50.41%. The business's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.92 earnings per share. As a group, equities analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current year.

Gaming and Leisure Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a dividend of $0.78 per share. The ex-dividend date was Friday, June 13th. This represents a $3.12 annualized dividend and a dividend yield of 6.53%. This is a boost from Gaming and Leisure Properties's previous quarterly dividend of $0.76. Gaming and Leisure Properties's dividend payout ratio (DPR) is currently 111.03%.

About Gaming and Leisure Properties

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.