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

The Manufacturers Life Insurance Company lessened its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 273,539 shares of the real estate investment trust’s stock after selling 2,180 shares during the quarter. The Manufacturers Life Insurance Company owned 0.10% of Gaming and Leisure Properties worth $12,367,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GLPI. Ignite Planners LLC boosted its stake in Gaming and Leisure Properties by 1.8% in the 2nd quarter. Ignite Planners LLC now owns 12,181 shares of the real estate investment trust’s stock worth $543,000 after purchasing an additional 220 shares in the last quarter. Moody National Bank Trust Division lifted its stake in shares of Gaming and Leisure Properties by 1.2% during the first quarter. Moody National Bank Trust Division now owns 19,068 shares of the real estate investment trust’s stock worth $878,000 after buying an additional 231 shares during the period. Ieq Capital LLC grew its holdings in shares of Gaming and Leisure Properties by 0.3% during the second quarter. Ieq Capital LLC now owns 90,749 shares of the real estate investment trust’s stock valued at $4,103,000 after buying an additional 257 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of Gaming and Leisure Properties by 2.7% during the first quarter. Private Advisor Group LLC now owns 11,440 shares of the real estate investment trust’s stock valued at $527,000 after buying an additional 299 shares during the last quarter. Finally, Woodward Diversified Capital LLC increased its position in shares of Gaming and Leisure Properties by 6.1% in the 1st quarter. Woodward Diversified Capital LLC now owns 6,077 shares of the real estate investment trust’s stock valued at $280,000 after acquiring an additional 351 shares during the period. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Down 0.1 %

NASDAQ GLPI opened at $51.12 on Friday. Gaming and Leisure Properties, Inc. has a one year low of $41.80 and a one year high of $52.60. The company has a debt-to-equity ratio of 1.49, a quick ratio of 5.91 and a current ratio of 5.91. The business has a fifty day moving average price of $50.56 and a 200 day moving average price of $46.82. The company has a market cap of $13.88 billion, a P/E ratio of 18.86, a P/E/G ratio of 5.36 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.15). Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The business had revenue of $380.60 million during the quarter, compared to analysts’ expectations of $377.95 million. During the same period in the prior year, the business posted $0.92 earnings per share. The business’s quarterly revenue was up 6.7% on a year-over-year basis. Research analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.76 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.04 annualized dividend and a dividend yield of 5.95%. Gaming and Leisure Properties’s dividend payout ratio is presently 112.18%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. JMP Securities boosted their price target on Gaming and Leisure Properties from $53.00 to $55.00 and gave the company a “market outperform” rating in a research note on Monday, August 12th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $52.00 target price (up previously from $51.00) on shares of Gaming and Leisure Properties in a research report on Tuesday. Royal Bank of Canada raised their price target on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. StockNews.com raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and a consensus price target of $52.18.

Insider Buying and Selling

In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 12,973 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $52.02, for a total value of $674,855.46. Following the transaction, the chief financial officer now directly owns 108,073 shares in the company, valued at approximately $5,621,957.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Desiree A. Burke sold 12,973 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $52.02, for a total value of $674,855.46. Following the transaction, the chief financial officer now owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Brandon John Moore sold 30,900 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $50.05, for a total value of $1,546,545.00. Following the sale, the chief operating officer now directly owns 208,977 shares of the company’s stock, valued at $10,459,298.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,478 shares of company stock worth $2,495,429. 4.40% of the stock is owned by corporate insiders.

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.