PNC Financial Services Group Inc. Grows Stock Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

PNC Financial Services Group Inc. raised its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 23.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,696 shares of the real estate investment trust’s stock after buying an additional 2,786 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Gaming and Leisure Properties were worth $680,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Lincoln National Corp purchased a new stake in Gaming and Leisure Properties in the third quarter valued at about $257,000. Exencial Wealth Advisors LLC raised its stake in Gaming and Leisure Properties by 2.7% in the third quarter. Exencial Wealth Advisors LLC now owns 72,076 shares of the real estate investment trust’s stock valued at $3,339,000 after buying an additional 1,885 shares during the last quarter. LSV Asset Management raised its stake in Gaming and Leisure Properties by 3.3% in the third quarter. LSV Asset Management now owns 1,178,435 shares of the real estate investment trust’s stock valued at $54,585,000 after buying an additional 37,909 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Gaming and Leisure Properties by 8.6% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 89,197 shares of the real estate investment trust’s stock valued at $4,132,000 after buying an additional 7,050 shares during the last quarter. Finally, AdvisorShares Investments LLC raised its stake in Gaming and Leisure Properties by 6.9% in the third quarter. AdvisorShares Investments LLC now owns 20,675 shares of the real estate investment trust’s stock valued at $958,000 after buying an additional 1,334 shares during the last quarter. Institutional investors own 87.15% of the company’s stock.

A number of research firms have commented on GLPI. Zacks Investment Research cut Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, November 2nd. Truist Securities cut Gaming and Leisure Properties from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $57.00 to $51.00 in a research note on Thursday. Morgan Stanley raised their price objective on Gaming and Leisure Properties from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 15th. Truist Financial upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $57.00 to $51.00 in a research note on Thursday. Finally, Citigroup began coverage on Gaming and Leisure Properties in a research note on Tuesday, December 7th. They issued a “buy” rating and a $55.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gaming and Leisure Properties presently has a consensus rating of “Buy” and a consensus price target of $52.87.

In other Gaming and Leisure Properties news, SVP Steven Ladany sold 2,260 shares of the firm’s stock in a transaction that occurred on Thursday, January 6th. The stock was sold at an average price of $47.59, for a total value of $107,553.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director E Scott Urdang acquired 3,000 shares of the company’s stock in a transaction on Wednesday, December 15th. The stock was acquired at an average cost of $45.71 per share, for a total transaction of $137,130.00. The disclosure for this purchase can be found here. Over the last three months, insiders sold 43,976 shares of company stock worth $2,124,025. 5.53% of the stock is owned by corporate insiders.

Gaming and Leisure Properties stock opened at $44.64 on Friday. The company has a quick ratio of 4.72, a current ratio of 4.72 and a debt-to-equity ratio of 2.00. Gaming and Leisure Properties, Inc. has a 52 week low of $39.08 and a 52 week high of $51.46. The business’s 50-day moving average price is $46.74 and its 200 day moving average price is $47.55. The firm has a market cap of $10.64 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 5.24 and a beta of 1.04.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Wednesday, October 27th. The real estate investment trust reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. Gaming and Leisure Properties had a return on equity of 21.35% and a net margin of 47.92%. The company had revenue of $298.71 million for the quarter, compared to analyst estimates of $295.47 million. During the same period last year, the company earned $0.89 earnings per share. Gaming and Leisure Properties’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities analysts expect that Gaming and Leisure Properties, Inc. will post 3.41 EPS for the current year.

The firm also recently disclosed a None dividend, which was paid on Friday, January 7th. Shareholders of record on Monday, December 27th were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, December 23rd. Gaming and Leisure Properties’s payout ratio is currently 107.20%.

Gaming and Leisure Properties Profile

Gaming & Leisure Properties, Inc is engaged in acquiring, financing, and owning real estate property to be leased to gaming operators in triple net lease arrangements. It operates through the GLP Capital and TRS Properties segments. The GLP Capital segment consists of the leased real property and represents the majority of business.

Featured Story: Diluted Earnings Per Share

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

Receive News & Ratings for Gaming and Leisure Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gaming and Leisure Properties and related companies with MarketBeat.com's FREE daily email newsletter.