M&T Bank Corp Has $2.05 Million Stock Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

M&T Bank Corp raised its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 39,886 shares of the real estate investment trust’s stock after buying an additional 865 shares during the period. M&T Bank Corp’s holdings in Gaming and Leisure Properties were worth $2,052,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GLPI. Assetmark Inc. boosted its holdings in shares of Gaming and Leisure Properties by 2,547.6% during the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 535 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Gaming and Leisure Properties during the second quarter worth about $31,000. EdgeRock Capital LLC acquired a new position in shares of Gaming and Leisure Properties in the second quarter valued at approximately $33,000. Farther Finance Advisors LLC increased its stake in shares of Gaming and Leisure Properties by 142.2% in the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 384 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Gaming and Leisure Properties by 578.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 590 shares during the last quarter. Institutional investors own 91.14% of the company’s stock.

Insider Activity

In related news, Director E Scott Urdang sold 6,885 shares of Gaming and Leisure Properties stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $50.16, for a total value of $345,351.60. Following the completion of the sale, the director now owns 149,800 shares of the company’s stock, valued at approximately $7,513,968. This trade represents a 4.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.37% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on GLPI shares. StockNews.com cut shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Mizuho lowered their target price on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. JMP Securities reiterated a “market outperform” rating and issued a $55.00 price target on shares of Gaming and Leisure Properties in a research report on Tuesday, October 29th. Wolfe Research upgraded Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research report on Friday, August 23rd. Finally, Raymond James upped their target price on Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.96.

Gaming and Leisure Properties Stock Performance

NASDAQ:GLPI opened at $50.09 on Friday. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. Gaming and Leisure Properties, Inc. has a twelve month low of $41.80 and a twelve month high of $52.60. The company has a fifty day moving average of $50.49 and a 200-day moving average of $49.03. The firm has a market capitalization of $13.74 billion, a P/E ratio of 17.51, a P/E/G ratio of 2.10 and a beta of 0.98.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.25). The company had revenue of $385.34 million during the quarter, compared to the consensus estimate of $385.09 million. Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $0.92 earnings per share. As a group, sell-side analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.76 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.04 dividend on an annualized basis and a yield of 6.07%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 106.29%.

About Gaming and Leisure Properties

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.