Thrivent Financial for Lutherans Reduces Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Thrivent Financial for Lutherans cut its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 62.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,563 shares of the real estate investment trust’s stock after selling 108,287 shares during the period. Thrivent Financial for Lutherans’ holdings in Gaming and Leisure Properties were worth $3,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Franklin Resources Inc. increased its position in shares of Gaming and Leisure Properties by 7.8% during the 3rd quarter. Franklin Resources Inc. now owns 12,259,224 shares of the real estate investment trust’s stock valued at $641,059,000 after purchasing an additional 889,698 shares during the last quarter. State Street Corp increased its position in Gaming and Leisure Properties by 1.4% during the third quarter. State Street Corp now owns 12,135,195 shares of the real estate investment trust’s stock valued at $624,356,000 after acquiring an additional 162,484 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Gaming and Leisure Properties by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,080,860 shares of the real estate investment trust’s stock valued at $312,316,000 after acquiring an additional 161,689 shares during the period. Jennison Associates LLC boosted its stake in shares of Gaming and Leisure Properties by 5.2% during the 4th quarter. Jennison Associates LLC now owns 4,287,118 shares of the real estate investment trust’s stock worth $206,468,000 after purchasing an additional 211,657 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Gaming and Leisure Properties by 15.2% during the 4th quarter. Bank of New York Mellon Corp now owns 2,981,567 shares of the real estate investment trust’s stock valued at $143,592,000 after purchasing an additional 394,069 shares during the last quarter. 91.14% of the stock is owned by institutional investors.

Insider Transactions at Gaming and Leisure Properties

In related news, SVP Matthew Demchyk sold 10,474 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $48.62, for a total transaction of $509,245.88. Following the transaction, the senior vice president now directly owns 71,757 shares in the company, valued at $3,488,825.34. The trade was a 12.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brandon John Moore sold 3,982 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $47.84, for a total value of $190,498.88. Following the completion of the sale, the chief operating officer now owns 278,634 shares of the company’s stock, valued at approximately $13,329,850.56. This trade represents a 1.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,064 shares of company stock valued at $2,778,908 in the last 90 days. Insiders own 4.37% of the company’s stock.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ:GLPI opened at $50.98 on Thursday. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $14.01 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00. The firm has a 50 day moving average of $49.39 and a 200 day moving average of $49.74. Gaming and Leisure Properties, Inc. has a 52 week low of $41.80 and a 52 week high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 EPS for the quarter, topping the consensus estimate of $0.94 by $0.01. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. The firm had revenue of $389.62 million during the quarter, compared to analyst estimates of $391.54 million. On average, sell-side analysts predict 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 company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date is Friday, March 14th. Gaming and Leisure Properties’s dividend payout ratio is currently 105.92%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GLPI shares. JPMorgan Chase & Co. raised shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $49.00 to $54.00 in a research note on Friday, December 13th. Morgan Stanley cut Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price objective for the company. in a report on Wednesday, January 15th. Barclays reduced their target price on Gaming and Leisure Properties from $55.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 4th. Royal Bank of Canada lowered their target price on shares of Gaming and Leisure Properties from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. Finally, Wells Fargo & Company raised their price target on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and a consensus price target of $53.96.

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.