Janney Montgomery Scott LLC Sells 9,237 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Janney Montgomery Scott LLC lowered its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 339,358 shares of the real estate investment trust's stock after selling 9,237 shares during the period. Janney Montgomery Scott LLC owned 0.12% of Gaming and Leisure Properties worth $17,273,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of GLPI. Dodge & Cox raised its position in Gaming and Leisure Properties by 75.3% in the 4th quarter. Dodge & Cox now owns 13,498,634 shares of the real estate investment trust's stock valued at $650,094,000 after purchasing an additional 5,797,299 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Gaming and Leisure Properties by 4.7% in the fourth quarter. Franklin Resources Inc. now owns 12,830,944 shares of the real estate investment trust's stock valued at $617,938,000 after buying an additional 571,720 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Gaming and Leisure Properties by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 6,245,884 shares of the real estate investment trust's stock valued at $300,395,000 after buying an additional 165,024 shares during the last quarter. Norges Bank bought a new position in shares of Gaming and Leisure Properties in the fourth quarter valued at about $176,123,000. Finally, Bank of New York Mellon Corp lifted its position in Gaming and Leisure Properties by 15.2% during the 4th quarter. Bank of New York Mellon Corp now owns 2,981,567 shares of the real estate investment trust's stock worth $143,592,000 after buying an additional 394,069 shares in the last quarter. 91.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 4,000 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $46.58, for a total value of $186,320.00. Following the completion of the transaction, the director now directly owns 136,953 shares of the company's stock, valued at approximately $6,379,270.74. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.26% of the company's stock.

Gaming and Leisure Properties Trading Up 0.6%

NASDAQ GLPI traded up $0.29 on Thursday, reaching $46.39. The company had a trading volume of 905,074 shares, compared to its average volume of 1,326,668. Gaming and Leisure Properties, Inc. has a 52 week low of $43.44 and a 52 week high of $52.60. The stock's 50 day moving average is $47.18 and its 200-day moving average is $48.35. The company has a quick ratio of 4.12, a current ratio of 4.12 and a debt-to-equity ratio of 1.51. The stock has a market cap of $12.75 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 3.19 and a beta of 0.72.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 EPS for the quarter, meeting analysts' consensus estimates of $0.96. The company had revenue of $395.24 million during the quarter, compared to analysts' expectations of $396.27 million. Gaming and Leisure Properties had a return on equity of 17.02% and a net margin of 50.41%. Gaming and Leisure Properties's revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 EPS. Equities analysts predict 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 announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 6.73%. The ex-dividend date is Friday, June 13th. This is an increase from Gaming and Leisure Properties's previous quarterly dividend of $0.76. Gaming and Leisure Properties's dividend payout ratio is presently 111.03%.

Analyst Upgrades and Downgrades

GLPI has been the subject of a number of research analyst reports. Mizuho dropped their target price on shares of Gaming and Leisure Properties from $53.00 to $48.00 and set a "neutral" rating for the company in a research note on Monday. Scotiabank lowered their price target on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating for the company in a report on Monday, May 12th. Wedbush set a $55.00 price objective on Gaming and Leisure Properties in a report on Monday, April 28th. Royal Bank Of Canada decreased their price objective on Gaming and Leisure Properties from $56.00 to $54.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Finally, Barclays lifted their target price on 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. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $54.17.

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.