Royal Bank of Canada reduced its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 46.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 459,534 shares of the real estate investment trust's stock after selling 404,864 shares during the quarter. Royal Bank of Canada owned approximately 0.17% of Gaming and Leisure Properties worth $22,129,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Dodge & Cox raised its stake in shares of Gaming and Leisure Properties by 75.3% in the fourth quarter. Dodge & Cox now owns 13,498,634 shares of the real estate investment trust's stock worth $650,094,000 after buying an additional 5,797,299 shares during the period. Franklin Resources Inc. increased its holdings in Gaming and Leisure Properties by 4.7% in the 4th quarter. Franklin Resources Inc. now owns 12,830,944 shares of the real estate investment trust's stock worth $617,938,000 after acquiring an additional 571,720 shares in the last quarter. Geode Capital Management LLC increased its holdings in Gaming and Leisure Properties by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 6,245,884 shares of the real estate investment trust's stock worth $300,395,000 after acquiring an additional 165,024 shares in the last quarter. Jennison Associates LLC increased its holdings in Gaming and Leisure Properties by 5.2% in the 4th quarter. Jennison Associates LLC now owns 4,287,118 shares of the real estate investment trust's stock worth $206,468,000 after acquiring an additional 211,657 shares in the last quarter. Finally, Norges Bank bought a new stake in Gaming and Leisure Properties during the 4th quarter worth approximately $176,123,000. 91.14% of the stock is currently owned by hedge funds and other institutional investors.
Gaming and Leisure Properties Price Performance
Shares of NASDAQ:GLPI traded up $0.02 during trading on Friday, reaching $46.22. 358,833 shares of the company's stock traded hands, compared to its average volume of 1,307,484. The firm has a market cap of $12.70 billion, a PE ratio of 16.11, a P/E/G ratio of 2.01 and a beta of 0.81. The company has a 50-day simple moving average of $47.86 and a 200-day simple moving average of $48.71. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. Gaming and Leisure Properties, Inc. has a fifty-two week low of $42.86 and a fifty-two week high of $52.60.
Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share for the quarter, meeting 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 company had revenue of $395.24 million for the quarter, compared to analyst estimates of $396.27 million. During the same quarter last year, the firm posted $0.92 EPS. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, 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 firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.12 dividend on an annualized basis and a yield of 6.75%. This is an increase from Gaming and Leisure Properties's previous quarterly dividend of $0.76. Gaming and Leisure Properties's payout ratio is currently 111.03%.
Insider Activity
In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $50.89, for a total transaction of $254,450.00. Following the completion of the transaction, the director now owns 140,953 shares of the company's stock, valued at $7,173,098.17. This trade represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Matthew Demchyk sold 3,382 shares of Gaming and Leisure Properties stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $50.48, for a total transaction of $170,723.36. Following the sale, the senior vice president now owns 49,620 shares of the company's stock, valued at approximately $2,504,817.60. This represents a 6.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,704 shares of company stock valued at $847,949 in the last quarter. Insiders own 4.26% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on GLPI shares. Royal Bank of Canada decreased their price target on Gaming and Leisure Properties from $56.00 to $54.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Barclays boosted their target price on shares of Gaming and Leisure Properties from $53.00 to $54.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 22nd. Wedbush set a $55.00 price target on Gaming and Leisure Properties in a report on Monday, April 28th. Wells Fargo & Company lifted their price target on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Finally, Macquarie reissued an "outperform" rating and set a $60.00 price target on shares of Gaming and Leisure Properties in a research note on Friday, April 25th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Gaming and Leisure Properties has an average rating of "Moderate Buy" and an average target price of $54.63.
View Our Latest Stock Report on GLPI
Gaming and Leisure Properties Profile
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Free Report)
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.
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