Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Position Trimmed by Mackenzie Financial Corp

Mackenzie Financial Corp cut its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 4.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 241,234 shares of the real estate investment trust's stock after selling 11,334 shares during the quarter. Mackenzie Financial Corp owned about 0.09% of Gaming and Leisure Properties worth $11,618,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Toronto Dominion Bank increased its stake in shares of Gaming and Leisure Properties by 2.5% in the fourth quarter. Toronto Dominion Bank now owns 36,869 shares of the real estate investment trust's stock valued at $1,776,000 after buying an additional 905 shares during the period. GF Fund Management CO. LTD. bought a new position in Gaming and Leisure Properties in the fourth quarter worth approximately $240,000. Neo Ivy Capital Management bought a new position in shares of Gaming and Leisure Properties in the fourth quarter valued at approximately $3,371,000. Novem Group bought a new position in shares of Gaming and Leisure Properties in the fourth quarter valued at approximately $786,000. Finally, Sophron Capital Management L.P. purchased a new stake in shares of Gaming and Leisure Properties during the fourth quarter valued at approximately $1,030,000. 91.14% of the stock is currently owned by institutional investors.

Insider Transactions at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, SVP Matthew Demchyk sold 3,382 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $50.48, for a total value of $170,723.36. Following the completion of the transaction, the senior vice president now directly owns 49,620 shares of the company's stock, valued at $2,504,817.60. This represents a 6.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director E Scott Urdang sold 5,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was 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 $7,173,098.17. The trade was a 3.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,704 shares of company stock valued at $847,949 in the last quarter. 4.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GLPI. Royal Bank of Canada reduced their price target on Gaming and Leisure Properties from $56.00 to $54.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Wedbush set a $55.00 price target on Gaming and Leisure Properties in a research report on Monday, April 28th. Mizuho increased their target price on Gaming and Leisure Properties from $51.00 to $53.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Scotiabank decreased their target price on Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating for the company in a research report on Monday, May 12th. Finally, Barclays upped their price target on Gaming and Leisure Properties from $53.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $54.63.

Gaming and Leisure Properties Stock Up 0.5%

NASDAQ:GLPI traded up $0.22 during midday trading on Friday, reaching $46.42. The company had a trading volume of 3,803,580 shares, compared to its average volume of 1,318,912. Gaming and Leisure Properties, Inc. has a 12-month low of $42.86 and a 12-month high of $52.60. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $12.76 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 2.01 and a beta of 0.81. The stock's fifty day simple moving average is $47.77 and its 200-day simple moving average is $48.69.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.96. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. The firm had revenue of $395.24 million for the quarter, compared to analyst estimates of $396.27 million. During the same quarter last year, the company posted $0.92 earnings per share. The business's revenue was up 5.1% on a year-over-year basis. On average, sell-side 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 company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.78 per share. 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. This represents a $3.12 annualized dividend and a dividend yield of 6.72%. Gaming and Leisure Properties's payout ratio is 111.03%.

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.