US Bancorp DE Raises Stake in Gaming and Leisure Properties Inc (NASDAQ:GLPI)

US Bancorp DE raised its stake in shares of Gaming and Leisure Properties Inc (NASDAQ:GLPI) by 3.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,191 shares of the real estate investment trust’s stock after buying an additional 780 shares during the quarter. US Bancorp DE’s holdings in Gaming and Leisure Properties were worth $894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in GLPI. PGGM Investments grew its holdings in Gaming and Leisure Properties by 85.4% during the 1st quarter. PGGM Investments now owns 8,278,672 shares of the real estate investment trust’s stock valued at $319,308,000 after buying an additional 3,812,672 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Gaming and Leisure Properties by 10,312.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,123,782 shares of the real estate investment trust’s stock valued at $100,930,000 after buying an additional 3,093,782 shares in the last quarter. Cohen & Steers Inc. grew its holdings in Gaming and Leisure Properties by 434.2% during the 4th quarter. Cohen & Steers Inc. now owns 3,791,853 shares of the real estate investment trust’s stock valued at $122,515,000 after buying an additional 3,082,056 shares in the last quarter. Vanguard Group Inc grew its holdings in Gaming and Leisure Properties by 9.1% during the 3rd quarter. Vanguard Group Inc now owns 30,677,165 shares of the real estate investment trust’s stock valued at $1,081,370,000 after buying an additional 2,553,357 shares in the last quarter. Finally, LSV Asset Management grew its holdings in Gaming and Leisure Properties by 200.9% during the 1st quarter. LSV Asset Management now owns 3,077,132 shares of the real estate investment trust’s stock valued at $118,684,000 after buying an additional 2,054,581 shares in the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.

In other news, CAO Desiree A. Burke sold 41,458 shares of Gaming and Leisure Properties stock in a transaction on Friday, April 5th. The stock was sold at an average price of $39.06, for a total transaction of $1,619,349.48. Following the completion of the sale, the chief accounting officer now directly owns 119,264 shares in the company, valued at $4,658,451.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.05% of the stock is currently owned by company insiders.

A number of research analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of Gaming and Leisure Properties from $42.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. BidaskClub raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Wednesday, March 13th. Deutsche Bank reissued a “buy” rating and issued a $47.00 target price on shares of Gaming and Leisure Properties in a report on Sunday, May 12th. Zacks Investment Research lowered shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $41.00 price target on shares of Gaming and Leisure Properties in a research report on Wednesday, March 20th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $42.80.

Shares of NASDAQ:GLPI remained flat at $$38.98 on Monday. The stock had a trading volume of 1,300,351 shares, compared to its average volume of 1,218,593. Gaming and Leisure Properties Inc has a fifty-two week low of $31.19 and a fifty-two week high of $40.82. The firm has a market cap of $8.41 billion, a P/E ratio of 12.26, a PEG ratio of 0.94 and a beta of 0.54. The company has a 50 day simple moving average of $39.73. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 2.72.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.68 per share. The ex-dividend date was Thursday, June 13th. This represents a $2.72 annualized dividend and a dividend yield of 6.98%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 85.53%.

Gaming and Leisure Properties Profile

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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