Lasalle Investment Management Securities LLC Cuts Holdings in Gaming and Leisure Properties, Inc. $GLPI

Key Points

• LaSalle Investment Management Securities cut its stake in Gaming and Leisure Properties by 3.8% in the first quarter, selling 79,006 shares and leaving it with 1,974,314 shares valued at about $87.6 million.
• Insider activity included director E. Scott Urdang selling 3,000 shares at $48.32 each, a transaction worth $144,960 that reduced his holdings by 2.3%.
• GLPI recently raised its quarterly dividend to $0.82 per share from $0.78, while its latest earnings beat estimates with $0.82 EPS and revenue of $419.99 million; analysts currently rate the stock a Moderate Buy with a consensus target of $51.27.

Lasalle Investment Management Securities LLC reduced its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,974,314 shares of the real estate investment trust's stock after selling 79,006 shares during the quarter. Gaming and Leisure Properties makes up about 3.5% of Lasalle Investment Management Securities LLC's holdings, making the stock its 8th biggest holding. Lasalle Investment Management Securities LLC owned about 0.70% of Gaming and Leisure Properties worth $87,600,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Colonial River Investments LLC boosted its stake in shares of Gaming and Leisure Properties by 2.1% during the 4th quarter. Colonial River Investments LLC now owns 10,893 shares of the real estate investment trust's stock valued at $487,000 after purchasing an additional 227 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in shares of Gaming and Leisure Properties by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 63,319 shares of the real estate investment trust's stock valued at $2,830,000 after buying an additional 237 shares during the period. Kestra Private Wealth Services LLC raised its stake in Gaming and Leisure Properties by 0.9% in the third quarter. Kestra Private Wealth Services LLC now owns 27,307 shares of the real estate investment trust's stock worth $1,273,000 after buying an additional 245 shares in the last quarter. Gabelli Funds LLC raised its stake in Gaming and Leisure Properties by 0.4% in the fourth quarter. Gabelli Funds LLC now owns 64,782 shares of the real estate investment trust's stock worth $2,895,000 after buying an additional 250 shares in the last quarter. Finally, Pure Financial Advisors LLC raised its stake in Gaming and Leisure Properties by 2.9% in the fourth quarter. Pure Financial Advisors LLC now owns 8,943 shares of the real estate investment trust's stock worth $400,000 after buying an additional 255 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director E Scott Urdang sold 3,000 shares of Gaming and Leisure Properties stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $48.32, for a total transaction of $144,960.00. Following the completion of the transaction, the director directly owned 127,429 shares in the company, valued at approximately $6,157,369.28. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.11% of the company's stock.

Gaming and Leisure Properties Stock Up 0.4%

Shares of Gaming and Leisure Properties stock opened at $44.71 on Thursday. Gaming and Leisure Properties, Inc. has a 1 year low of $41.17 and a 1 year high of $49.95. The firm has a market cap of $12.67 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 1.97 and a beta of 0.66. The company has a 50-day moving average of $45.74 and a 200 day moving average of $46.25. The company has a debt-to-equity ratio of 1.62, a current ratio of 6.29 and a quick ratio of 6.29.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The real estate investment trust reported $0.82 EPS for the quarter, topping the consensus estimate of $0.76 by $0.06. The business had revenue of $419.99 million for the quarter, compared to analyst estimates of $417.15 million. Gaming and Leisure Properties had a net margin of 55.56% and a return on equity of 18.06%. Gaming and Leisure Properties's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 earnings per share. As a group, sell-side analysts anticipate that Gaming and Leisure Properties, Inc. will post 4.01 earnings per share for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued a dividend of $0.82 per share. The ex-dividend date was Friday, June 12th. This is a positive change from Gaming and Leisure Properties's previous quarterly dividend of $0.78. This represents a $3.28 annualized dividend and a dividend yield of 7.3%. Gaming and Leisure Properties's dividend payout ratio (DPR) is 104.13%.

Wall Street Analyst Weigh In

Several analysts have commented on GLPI shares. UBS Group set a $49.00 price objective on shares of Gaming and Leisure Properties in a report on Thursday, June 18th. Barclays decreased their target price on Gaming and Leisure Properties from $53.00 to $50.00 and set an "overweight" rating for the company in a research report on Wednesday. Scotiabank lowered their target price on Gaming and Leisure Properties from $52.00 to $49.00 and set a "sector perform" rating for the company in a research note on Thursday, June 18th. Stifel Nicolaus set a $50.00 price target on Gaming and Leisure Properties in a research report on Friday, April 24th. Finally, JPMorgan Chase & Co. dropped their price target on Gaming and Leisure Properties from $53.00 to $51.00 and set an "overweight" rating on the stock in a research report on Tuesday, June 30th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, Gaming and Leisure Properties has an average rating of "Moderate Buy" and a consensus target price of $51.27.

Gaming and Leisure Properties Company Profile

Gaming and Leisure Properties, Inc NASDAQ: GLPI is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.

The company's core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.

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