DigitalBridge Group Inc. Cuts Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

DigitalBridge Group Inc. decreased its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 8.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 199,796 shares of the real estate investment trust's stock after selling 19,500 shares during the period. DigitalBridge Group Inc. owned 0.07% of Gaming and Leisure Properties worth $9,622,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in GLPI. Dodge & Cox raised its position in Gaming and Leisure Properties by 75.3% in the fourth quarter. Dodge & Cox now owns 13,498,634 shares of the real estate investment trust's stock worth $650,094,000 after acquiring an additional 5,797,299 shares during the period. Norges Bank purchased a new position in shares of Gaming and Leisure Properties in the fourth quarter worth about $176,123,000. Raymond James Financial Inc. purchased a new position in shares of Gaming and Leisure Properties in the fourth quarter worth about $49,188,000. Northern Trust Corp increased its stake in shares of Gaming and Leisure Properties by 48.2% in the fourth quarter. Northern Trust Corp now owns 2,873,006 shares of the real estate investment trust's stock worth $138,364,000 after purchasing an additional 933,842 shares in the last quarter. Finally, Aew Capital Management L P increased its stake in shares of Gaming and Leisure Properties by 1,786.5% in the fourth quarter. Aew Capital Management L P now owns 761,600 shares of the real estate investment trust's stock worth $36,679,000 after purchasing an additional 721,230 shares in the last quarter. Institutional investors own 91.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Mizuho boosted their price objective on shares of Gaming and Leisure Properties from $51.00 to $53.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Royal Bank of Canada reduced 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 research note on Monday, April 28th. Wedbush set a $55.00 price objective on shares of Gaming and Leisure Properties in a research note on Monday, April 28th. Barclays boosted their price objective 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. Finally, Wells Fargo & Company boosted their price objective on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $54.63.

Gaming and Leisure Properties Price Performance

GLPI stock traded up $0.21 during midday trading on Tuesday, reaching $46.44. The company had a trading volume of 2,077,274 shares, compared to its average volume of 1,309,015. 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 1 year low of $42.86 and a 1 year high of $52.60. The company has a market capitalization of $12.76 billion, a P/E ratio of 16.18, a P/E/G ratio of 2.01 and a beta of 0.81. The firm has a 50-day moving average price of $48.13 and a 200-day moving average price of $48.77.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced 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. The firm had revenue of $395.24 million during 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%. The business'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 EPS. On average, research analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.72%. This is a positive change from Gaming and Leisure Properties's previous quarterly dividend of $0.76. The ex-dividend date is Friday, June 13th. Gaming and Leisure Properties's payout ratio is presently 111.03%.

Insider Transactions at Gaming and Leisure Properties

In related news, SVP Matthew Demchyk sold 1,138 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $50.45, for a total transaction of $57,412.10. Following the completion of the sale, the senior vice president now directly owns 53,002 shares in the company, valued at $2,673,950.90. This represents a 2.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director E Scott Urdang sold 5,000 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $50.89, for a total transaction of $254,450.00. Following the transaction, the director now directly owns 140,953 shares in the company, valued at approximately $7,173,098.17. The trade was a 3.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,842 shares of company stock worth $905,361. 4.26% of the stock is currently owned by 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.