MetLife Investment Management LLC Acquires 12,588 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

MetLife Investment Management LLC raised its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 8.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 162,489 shares of the real estate investment trust's stock after purchasing an additional 12,588 shares during the quarter. MetLife Investment Management LLC owned approximately 0.06% of Gaming and Leisure Properties worth $7,825,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new stake in shares of Gaming and Leisure Properties during the 4th quarter worth approximately $31,000. CKW Financial Group grew its position in shares of Gaming and Leisure Properties by 75.0% during the 4th quarter. CKW Financial Group now owns 700 shares of the real estate investment trust's stock worth $34,000 after buying an additional 300 shares during the period. Bessemer Group Inc. grew its position in shares of Gaming and Leisure Properties by 149.8% during the 4th quarter. Bessemer Group Inc. now owns 1,029 shares of the real estate investment trust's stock worth $49,000 after buying an additional 617 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Gaming and Leisure Properties during the 3rd quarter worth approximately $66,000. Finally, UMB Bank n.a. grew its position in shares of Gaming and Leisure Properties by 57.4% during the 4th quarter. UMB Bank n.a. now owns 1,368 shares of the real estate investment trust's stock worth $66,000 after buying an additional 499 shares during the period. Institutional investors and hedge funds own 91.14% of the company's stock.

Gaming and Leisure Properties Price Performance

NASDAQ GLPI traded down $1.29 on Friday, hitting $47.74. The stock had a trading volume of 3,185,671 shares, compared to its average volume of 1,256,171. Gaming and Leisure Properties, Inc. has a 52-week low of $42.62 and a 52-week high of $52.60. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. The company has a market capitalization of $13.12 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 2.01 and a beta of 0.72. The firm has a 50-day moving average of $49.43 and a 200-day moving average of $49.31.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. The business had revenue of $395.24 million for the quarter, compared to analysts' expectations of $396.27 million. Equities analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 6.37%. The ex-dividend date of this dividend was Friday, March 14th. Gaming and Leisure Properties's dividend payout ratio (DPR) is currently 108.19%.

Insider Activity

In other news, SVP Matthew Demchyk sold 17,617 shares of the firm's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $49.40, for a total transaction of $870,279.80. Following the sale, the senior vice president now owns 54,140 shares in the company, valued at approximately $2,674,516. This trade represents a 24.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director E Scott Urdang sold 5,000 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $50.89, for a total transaction of $254,450.00. Following the sale, the director now owns 140,953 shares in the company, valued at approximately $7,173,098.17. This trade represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,459 shares of company stock worth $2,024,241. 4.37% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on GLPI shares. Macquarie reaffirmed an "outperform" rating and set a $60.00 price objective on shares of Gaming and Leisure Properties in a research report on Friday. Barclays raised their price objective on shares of Gaming and Leisure Properties from $53.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 22nd. 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 report on Thursday, April 3rd. Wells Fargo & Company increased their target price on Gaming and Leisure Properties from $50.00 to $51.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. Finally, Morgan Stanley cut Gaming and Leisure Properties from an "overweight" rating to an "equal weight" rating and set a $53.00 target price on the stock. in a report on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $54.57.

Gaming and Leisure Properties Company Profile

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.