Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Stake Increased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 5.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,717,787 shares of the real estate investment trust's stock after purchasing an additional 96,060 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.63% of Gaming and Leisure Properties worth $87,435,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE increased its holdings in Gaming and Leisure Properties by 106.2% during the 4th quarter. US Bancorp DE now owns 44,745 shares of the real estate investment trust's stock valued at $2,155,000 after acquiring an additional 23,050 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Gaming and Leisure Properties by 11.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 24,560 shares of the real estate investment trust's stock valued at $1,183,000 after acquiring an additional 2,498 shares in the last quarter. Toronto Dominion Bank increased its holdings in Gaming and Leisure Properties by 2.5% during the 4th quarter. Toronto Dominion Bank now owns 36,869 shares of the real estate investment trust's stock valued at $1,776,000 after acquiring an additional 905 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Gaming and Leisure Properties during the 4th quarter valued at about $49,188,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth about $768,000. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GLPI. Macquarie reiterated an "outperform" rating and set a $60.00 price target on shares of Gaming and Leisure Properties in a report on Friday, April 25th. Mizuho lowered their price target on shares of Gaming and Leisure Properties from $53.00 to $48.00 and set a "neutral" rating for the company in a report on Monday, June 16th. Scotiabank lowered their price target on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating for the company in a report on Monday, May 12th. Royal Bank Of Canada lowered their price target 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. Finally, Wedbush set a $55.00 price target on shares of Gaming and Leisure Properties in a report on Monday, April 28th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Gaming and Leisure Properties has an average rating of "Moderate Buy" and an average price target of $54.17.

Insiders Place Their Bets

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

Gaming and Leisure Properties Trading Up 1.6%

GLPI stock traded up $0.75 during midday trading on Tuesday, reaching $47.43. 1,790,244 shares of the company's stock traded hands, compared to its average volume of 1,334,749. The company has a market capitalization of $13.04 billion, a P/E ratio of 16.88, a PEG ratio of 3.23 and a beta of 0.72. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.12 and a quick ratio of 4.12. Gaming and Leisure Properties, Inc. has a fifty-two week low of $43.81 and a fifty-two week high of $52.60. The business has a 50-day moving average price of $46.87 and a two-hundred day moving average price of $48.10.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share for the quarter, meeting analysts' consensus estimates of $0.96. The firm had revenue of $395.24 million for the quarter, compared to analysts' expectations of $396.27 million. Gaming and Leisure Properties had a net margin of 50.41% and a return on equity of 17.02%. Gaming and Leisure Properties's revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 earnings per share. Equities research analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 6.58%. This is a boost from Gaming and Leisure Properties's previous quarterly dividend of $0.76. The ex-dividend date was Friday, June 13th. Gaming and Leisure Properties's payout ratio is 111.03%.

Gaming and Leisure Properties 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.