Allspring Global Investments Holdings LLC Trims Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Allspring Global Investments Holdings LLC cut its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,503,071 shares of the real estate investment trust's stock after selling 24,383 shares during the period. Allspring Global Investments Holdings LLC owned 2.00% of Gaming and Leisure Properties worth $279,446,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Alpine Bank Wealth Management purchased a new position in shares of Gaming and Leisure Properties during the 1st quarter valued at $26,000. Quarry LP raised its holdings in Gaming and Leisure Properties by 52.5% during the fourth quarter. Quarry LP now owns 979 shares of the real estate investment trust's stock valued at $47,000 after acquiring an additional 337 shares during the period. Bessemer Group Inc. lifted its position 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 valued at $49,000 after acquiring an additional 617 shares in the last quarter. Grove Bank & Trust bought a new position in shares of Gaming and Leisure Properties in the first quarter worth about $51,000. Finally, Park Square Financial Group LLC purchased a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth about $52,000. Institutional investors own 91.14% of the company's stock.

Gaming and Leisure Properties Trading Up 1.6%

Shares of GLPI traded up $0.75 during midday trading on Tuesday, hitting $47.43. The stock had a trading volume of 1,732,693 shares, compared to its average volume of 1,333,409. The stock's 50 day moving average is $46.87 and its 200 day moving average is $48.10. The firm has a market cap of $13.04 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 3.21 and a beta of 0.72. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.12 and a quick ratio of 4.12. Gaming and Leisure Properties, Inc. has a 1 year low of $43.81 and a 1 year high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings data 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. Gaming and Leisure Properties had a net margin of 50.41% and a return on equity of 17.02%. The company had revenue of $395.24 million for the quarter, compared to analyst estimates of $396.27 million. During the same period in the prior year, the company posted $0.92 EPS. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.12 dividend on an annualized basis and a yield of 6.58%. This is a boost from Gaming and Leisure Properties's previous quarterly dividend of $0.76. Gaming and Leisure Properties's payout ratio is presently 111.03%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Mizuho lowered their price target on Gaming and Leisure Properties from $53.00 to $48.00 and set a "neutral" rating on the stock in a report on Monday, June 16th. Barclays raised their target price on shares of Gaming and Leisure Properties from $53.00 to $54.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 22nd. Royal Bank Of Canada dropped their price objective on shares of 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. Macquarie reaffirmed an "outperform" rating and issued a $60.00 target price on shares of Gaming and Leisure Properties in a report on Friday, April 25th. Finally, Scotiabank lowered their target price on Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating for the company in a research report on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Gaming and Leisure Properties currently has a consensus rating of "Moderate Buy" and an average target price of $54.17.

Insider Buying and Selling

In other news, Director E Scott Urdang sold 4,000 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $46.58, for a total value of $186,320.00. Following the transaction, the director directly owned 136,953 shares in the company, valued at approximately $6,379,270.74. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.26% of the stock is owned by company insiders.

Gaming and Leisure Properties 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.