Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 264,408 shares of the real estate investment trust’s stock after selling 6,368 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Gaming and Leisure Properties were worth $12,734,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in GLPI. Stonebridge Financial Group LLC acquired a new position in Gaming and Leisure Properties during the fourth quarter valued at $31,000. CKW Financial Group raised its stake in shares of Gaming and Leisure Properties by 75.0% during the 4th quarter. CKW Financial Group now owns 700 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 300 shares during the last quarter. Quarry LP lifted its holdings in shares of Gaming and Leisure Properties by 52.5% in the 4th quarter. Quarry LP now owns 979 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 337 shares during the period. Bessemer Group Inc. boosted its stake in shares of Gaming and Leisure Properties by 149.8% in the fourth quarter. Bessemer Group Inc. now owns 1,029 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 617 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Gaming and Leisure Properties in the third quarter worth about $66,000. 91.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GLPI shares. Morgan Stanley downgraded Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price target for the company. in a report on Wednesday, January 15th. Barclays increased their price target on shares of Gaming and Leisure Properties from $53.00 to $54.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 22nd. Wells Fargo & Company upped their price objective on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Macquarie restated an “outperform” rating and set a $60.00 target price on shares of Gaming and Leisure Properties in a research report on Friday, April 25th. Finally, Royal Bank of Canada reduced their price target on Gaming and Leisure Properties from $56.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and an average price target of $54.70.

Gaming and Leisure Properties Trading Up 0.0 %

Shares of GLPI stock opened at $47.20 on Friday. Gaming and Leisure Properties, Inc. has a fifty-two week low of $42.86 and a fifty-two week high of $52.60. The firm has a market capitalization of $12.97 billion, a P/E ratio of 16.45, a PEG ratio of 2.01 and a beta of 0.72. The stock’s fifty day moving average is $49.28 and its two-hundred day moving average is $49.21. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.96. The firm had revenue of $395.24 million for the quarter, compared to analyst estimates of $396.27 million. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. Gaming and Leisure Properties’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 earnings per share. Research analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors 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 dividend yield of 6.44%. Gaming and Leisure Properties’s dividend payout ratio is presently 108.19%.

Insider Buying and Selling

In other news, Director E Scott Urdang sold 5,000 shares of Gaming and Leisure Properties stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $49.72, for a total transaction of $248,600.00. Following the transaction, the director now owns 145,953 shares in the company, valued at $7,256,783.16. The trade was a 3.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Matthew Demchyk sold 1,903 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $51.99, for a total transaction of $98,936.97. Following the transaction, the senior vice president now directly owns 41,298 shares in the company, valued at approximately $2,147,083.02. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,842 shares of company stock worth $1,153,961. 4.37% of the stock is owned by corporate insiders.

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.