Westwood Holdings Group Inc. Sells 13,400 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Key Points

• Westwood Holdings Group Inc. sold 13,400 shares of Gaming and Leisure Properties, Inc. in the first quarter, reducing its stake by 10.9% and leaving it with 110,000 shares valued at approximately $5.6 million.
• Analysts are mixed on the stock, with some raising price targets to $55.00 while others have lowered targets to around $48.00, reflecting diverse opinions on its performance, with a consensus rating of "Moderate Buy."
• Gaming and Leisure Properties recently increased its quarterly dividend from $0.76 to $0.78, yielding around 6.8%, despite a high dividend payout ratio of 120.93%.

Westwood Holdings Group Inc. trimmed its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 10.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 110,000 shares of the real estate investment trust's stock after selling 13,400 shares during the period. Westwood Holdings Group Inc.'s holdings in Gaming and Leisure Properties were worth $5,599,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of GLPI. Toronto Dominion Bank grew its holdings in shares of Gaming and Leisure Properties by 2.5% during the fourth quarter. Toronto Dominion Bank now owns 36,869 shares of the real estate investment trust's stock worth $1,776,000 after purchasing an additional 905 shares during the last quarter. Perigon Wealth Management LLC acquired a new position in shares of Gaming and Leisure Properties during the first quarter valued at $217,000. Envestnet Asset Management Inc. lifted its stake in shares of Gaming and Leisure Properties by 2.8% during the first quarter. Envestnet Asset Management Inc. now owns 604,875 shares of the real estate investment trust's stock valued at $30,788,000 after acquiring an additional 16,617 shares during the period. Assetmark Inc. lifted its stake in shares of Gaming and Leisure Properties by 49.6% during the first quarter. Assetmark Inc. now owns 989 shares of the real estate investment trust's stock valued at $50,000 after acquiring an additional 328 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in shares of Gaming and Leisure Properties by 210.9% during the first quarter. Farther Finance Advisors LLC now owns 2,083 shares of the real estate investment trust's stock valued at $106,000 after acquiring an additional 1,413 shares during the period. 91.14% of the stock is currently owned by institutional investors.

Gaming and Leisure Properties Stock Down 0.4%

Shares of NASDAQ GLPI traded down $0.20 during mid-day trading on Friday, reaching $45.91. 971,992 shares of the company's stock were exchanged, compared to its average volume of 1,828,085. The firm has a market capitalization of $12.99 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 10.02 and a beta of 0.71. 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 business has a fifty day simple moving average of $46.88 and a 200 day simple moving average of $47.98. Gaming and Leisure Properties, Inc. has a twelve month low of $44.48 and a twelve month 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). The business had revenue of $394.90 million for the quarter, compared to analyst estimates of $397.27 million. Gaming and Leisure Properties had a return on equity of 15.43% and a net margin of 46.32%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 EPS. As a group, equities analysts expect 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 declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.78 per share. This is an increase from Gaming and Leisure Properties's previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend was Friday, June 13th. Gaming and Leisure Properties's payout ratio is 120.93%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wedbush set a $55.00 price target on Gaming and Leisure Properties in a research note on Monday, April 28th. Wells Fargo & Company cut their price target on Gaming and Leisure Properties from $51.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Monday, June 2nd. Scotiabank cut their price target on Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating on the stock in a research note on Monday, May 12th. Mizuho cut their price target on Gaming and Leisure Properties from $53.00 to $48.00 and set a "neutral" rating on the stock in a research note on Monday, June 16th. Finally, Macquarie cut their target price on Gaming and Leisure Properties from $60.00 to $59.00 and set an "outperform" rating on the stock in a research note on Monday, July 28th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $53.16.

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 3,000 shares of Gaming and Leisure Properties stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $46.54, for a total value of $139,620.00. Following the sale, the director owned 133,953 shares of the company's stock, valued at approximately $6,234,172.62. This trade represents a 2.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.26% of the stock is currently owned by corporate insiders.

About Gaming and Leisure Properties

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.