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

The Manufacturers Life Insurance Company trimmed its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 1.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 270,776 shares of the real estate investment trust’s stock after selling 2,763 shares during the period. The Manufacturers Life Insurance Company’s holdings in Gaming and Leisure Properties were worth $13,931,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. increased its holdings in shares of Gaming and Leisure Properties by 4.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 10,286 shares of the real estate investment trust’s stock valued at $469,000 after acquiring an additional 470 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Gaming and Leisure Properties by 52.8% in the 1st quarter. Cetera Investment Advisers now owns 54,504 shares of the real estate investment trust’s stock worth $2,511,000 after buying an additional 18,837 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Gaming and Leisure Properties by 41.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,545 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 454 shares during the period. DNB Asset Management AS grew its position in shares of Gaming and Leisure Properties by 2.7% during the 2nd quarter. DNB Asset Management AS now owns 40,644 shares of the real estate investment trust’s stock valued at $1,838,000 after buying an additional 1,086 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in Gaming and Leisure Properties by 18,500.0% during the second quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 740 shares during the period. 91.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on GLPI. 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. Stifel Nicolaus upped their price objective on Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and raised their target price for the company from $49.00 to $54.00 in a research note on Wednesday, November 20th. JMP Securities restated a “market outperform” rating and set a $55.00 price target on shares of Gaming and Leisure Properties in a research report on Tuesday, October 29th. Finally, Wolfe Research upgraded shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research report on Friday, August 23rd. Six analysts have rated the stock with a hold rating and nine have issued 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 $53.32.

Gaming and Leisure Properties Price Performance

NASDAQ GLPI opened at $51.61 on Monday. The firm has a market capitalization of $14.16 billion, a PE ratio of 18.05, a P/E/G ratio of 2.19 and a beta of 0.99. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35. Gaming and Leisure Properties, Inc. has a 12 month low of $41.80 and a 12 month high of $52.60. The company’s 50 day simple moving average is $50.59 and its 200 day simple moving average is $48.68.

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

Gaming and Leisure Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.76 per share. The ex-dividend date is Friday, December 6th. This represents a $3.04 annualized dividend and a dividend yield of 5.89%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 106.29%.

Insider Transactions at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 3,000 shares of Gaming and Leisure Properties stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $50.39, for a total value of $151,170.00. Following the transaction, the director now owns 146,800 shares in the company, valued at approximately $7,397,252. The trade was a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.37% of the company’s stock.

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.