Truist Financial Corp Sells 13,759 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Truist Financial Corp lowered its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPIFree Report) by 10.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 115,407 shares of the real estate investment trust’s stock after selling 13,759 shares during the period. Truist Financial Corp’s holdings in Gaming and Leisure Properties were worth $5,695,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GLPI. Operose Advisors LLC bought a new stake in Gaming and Leisure Properties in the 3rd quarter valued at about $32,000. GAMMA Investing LLC bought a new stake in Gaming and Leisure Properties in the 4th quarter valued at about $51,000. Armstrong Advisory Group Inc. boosted its holdings in Gaming and Leisure Properties by 166.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 1,203 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 751 shares during the period. Banque Cantonale Vaudoise bought a new stake in Gaming and Leisure Properties in the 3rd quarter valued at about $79,000. Finally, Rocky Mountain Advisers LLC bought a new stake in Gaming and Leisure Properties in the 4th quarter valued at about $103,000. Institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Price Performance

GLPI stock opened at $43.20 on Friday. The company has a 50 day simple moving average of $44.60 and a 200 day simple moving average of $45.75. The stock has a market cap of $11.73 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 5.12 and a beta of 0.95. Gaming and Leisure Properties, Inc. has a 1 year low of $41.80 and a 1 year high of $51.43. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.47 and a quick ratio of 6.47.

Gaming and Leisure Properties (NASDAQ:GLPIGet Free Report) last released its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. The company had revenue of $376.00 million for the quarter, compared to analyst estimates of $368.44 million. During the same quarter in the prior year, the company earned $0.92 earnings per share. Gaming and Leisure Properties’s revenue for the quarter was up 5.9% compared to the same quarter last year. Research analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.66 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, March 29th. Shareholders of record on Friday, March 15th were given a $0.76 dividend. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 annualized dividend and a yield of 7.04%. The ex-dividend date of this dividend was Thursday, March 14th. Gaming and Leisure Properties’s dividend 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 purchased 2,500 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was purchased at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the transaction, the director now owns 156,685 shares in the company, valued at approximately $7,050,825. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. StockNews.com downgraded shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a report on Monday, March 4th. Royal Bank of Canada cut their price target on shares of Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Mizuho cut their price target on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, March 7th. Finally, Morgan Stanley cut their price target on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.91.

Check Out Our Latest Stock Report on Gaming and Leisure Properties

About Gaming and Leisure Properties

(Free Report)

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.

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Institutional Ownership by Quarter for Gaming and Leisure Properties (NASDAQ:GLPI)

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