Federated Hermes Inc. Cuts Stock Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Federated Hermes Inc. cut its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 16.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 828,642 shares of the real estate investment trust's stock after selling 159,819 shares during the period. Federated Hermes Inc. owned 0.30% of Gaming and Leisure Properties worth $42,178,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new position in Gaming and Leisure Properties in the 1st quarter worth approximately $26,000. Private Trust Co. NA purchased a new position in Gaming and Leisure Properties in the 1st quarter worth approximately $28,000. TD Private Client Wealth LLC lifted its holdings in Gaming and Leisure Properties by 64.2% in the 1st quarter. TD Private Client Wealth LLC now owns 545 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 213 shares in the last quarter. Wayfinding Financial LLC purchased a new position in Gaming and Leisure Properties in the 1st quarter worth approximately $33,000. Finally, Cullen Frost Bankers Inc. lifted its holdings in Gaming and Leisure Properties by 1,872.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 651 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 618 shares in the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GLPI. Wells Fargo & Company decreased their price objective on Gaming and Leisure Properties from $51.00 to $49.00 and set an "equal weight" rating on the stock in a report on Monday, June 2nd. Royal Bank Of Canada decreased their price objective on Gaming and Leisure Properties from $54.00 to $53.00 and set an "outperform" rating on the stock in a report on Monday, July 28th. Barclays upped their price objective on Gaming and Leisure Properties from $54.00 to $55.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Mizuho decreased their price objective 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. Finally, Macquarie decreased their price objective on Gaming and Leisure Properties from $60.00 to $59.00 and set an "outperform" rating on the stock in a report on Monday, July 28th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.16.

Gaming and Leisure Properties Stock Up 1.3%

Shares of GLPI traded up $0.57 during midday trading on Friday, reaching $46.15. 2,029,274 shares of the stock were exchanged, compared to its average volume of 1,759,210. The company has a market capitalization of $13.06 billion, a P/E ratio of 17.89, a PEG ratio of 9.91 and a beta of 0.72. The company has a current ratio of 7.39, a quick ratio of 7.39 and a debt-to-equity ratio of 1.41. The company's 50 day moving average is $46.88 and its two-hundred day moving average is $48.04. Gaming and Leisure Properties, Inc. has a 52 week low of $44.48 and a 52 week high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.96 EPS for the quarter, missing analysts' consensus estimates of $0.97 by ($0.01). Gaming and Leisure Properties had a net margin of 46.32% and a return on equity of 15.43%. The business had revenue of $394.90 million during the quarter, compared to analysts' expectations of $397.27 million. During the same quarter last year, the business posted $0.94 earnings per share. The company's quarterly revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current year.

Gaming and Leisure Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a dividend of $0.78 per share. The ex-dividend date was Friday, June 13th. This is a positive change from Gaming and Leisure Properties's previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a dividend yield of 6.8%. Gaming and Leisure Properties's dividend payout ratio (DPR) is presently 120.93%.

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 4,000 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $46.58, for a total transaction of $186,320.00. Following the completion of the sale, the director directly owned 136,953 shares in the company, valued at approximately $6,379,270.74. The trade was a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.26% of the company's stock.

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.