Norges Bank Invests $176.12 Million in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Norges Bank bought a new stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,657,049 shares of the real estate investment trust’s stock, valued at approximately $176,123,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Gaming and Leisure Properties by 647.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,025,526 shares of the real estate investment trust’s stock worth $104,213,000 after buying an additional 1,754,370 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Gaming and Leisure Properties during the fourth quarter valued at approximately $49,188,000. Franklin Resources Inc. boosted its position in Gaming and Leisure Properties by 7.8% during the third quarter. Franklin Resources Inc. now owns 12,259,224 shares of the real estate investment trust’s stock valued at $641,059,000 after purchasing an additional 889,698 shares during the last quarter. Janus Henderson Group PLC grew its stake in Gaming and Leisure Properties by 6,162.9% in the third quarter. Janus Henderson Group PLC now owns 812,981 shares of the real estate investment trust’s stock valued at $41,820,000 after purchasing an additional 800,000 shares in the last quarter. Finally, Aew Capital Management L P increased its position in shares of Gaming and Leisure Properties by 1,786.5% during the 4th quarter. Aew Capital Management L P now owns 761,600 shares of the real estate investment trust’s stock worth $36,679,000 after purchasing an additional 721,230 shares during the last quarter. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Gaming and Leisure Properties Trading Down 0.2 %

Shares of Gaming and Leisure Properties stock opened at $50.40 on Monday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. The firm has a 50-day moving average of $49.49 and a 200-day moving average of $49.70. Gaming and Leisure Properties, Inc. has a 52-week low of $41.80 and a 52-week high of $52.60. The stock has a market cap of $13.85 billion, a PE ratio of 17.56, a PEG ratio of 2.01 and a beta of 1.00.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. The firm had revenue of $389.62 million for the quarter, compared to analyst estimates of $391.54 million. As a group, sell-side analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.76 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.04 annualized dividend and a yield of 6.03%. Gaming and Leisure Properties’s dividend payout ratio is presently 105.92%.

Insider Activity

In other news, SVP Matthew Demchyk sold 17,617 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $49.40, for a total value of $870,279.80. Following the completion of the transaction, the senior vice president now directly owns 54,140 shares in the company, valued at approximately $2,674,516. The trade was a 24.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director E Scott Urdang sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $50.89, for a total transaction of $254,450.00. Following the sale, the director now directly owns 140,953 shares of the company’s stock, valued at approximately $7,173,098.17. This trade represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 56,064 shares of company stock worth $2,778,908. 4.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Morgan Stanley downgraded Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price objective for the company. in a report on Wednesday, January 15th. Wells Fargo & Company increased their price target on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. JMP Securities restated a “market outperform” rating and set a $55.00 price objective on shares of Gaming and Leisure Properties in a research note on Wednesday, December 18th. Royal Bank of Canada cut their target price on shares of Gaming and Leisure Properties from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. raised Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $49.00 to $54.00 in a research report on Friday, December 13th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.96.

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.