Lazard Asset Management LLC Sells 37,096 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Lazard Asset Management LLC reduced its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 15.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 197,702 shares of the real estate investment trust's stock after selling 37,096 shares during the quarter. Lazard Asset Management LLC owned 0.07% of Gaming and Leisure Properties worth $9,520,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Stonebridge Financial Group LLC bought a new stake in shares of Gaming and Leisure Properties during the 4th quarter valued at about $31,000. CKW Financial Group grew its stake 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 valued at $34,000 after purchasing an additional 300 shares during the period. Quarry LP grew its stake in shares of Gaming and Leisure Properties by 52.5% during the 4th quarter. Quarry LP now owns 979 shares of the real estate investment trust's stock valued at $47,000 after purchasing an additional 337 shares during the period. Bessemer Group Inc. grew its stake 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 valued at $49,000 after purchasing an additional 617 shares during the period. Finally, Parvin Asset Management LLC bought a new stake in shares of Gaming and Leisure Properties during the 4th quarter valued at about $53,000. 91.14% of the stock is currently owned by institutional investors.

Gaming and Leisure Properties Price Performance

NASDAQ GLPI traded down $0.25 during trading hours on Tuesday, reaching $47.26. The company's stock had a trading volume of 145,645 shares, compared to its average volume of 1,289,325. The firm's 50-day moving average price is $48.51 and its 200-day moving average price is $48.89. 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 1 year low of $42.86 and a 1 year high of $52.60. The company has a market capitalization of $12.99 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 2.01 and a beta of 0.81.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 EPS for the quarter, hitting analysts' consensus estimates of $0.96. The company had revenue of $395.24 million for the quarter, compared to analysts' expectations of $396.27 million. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. The firm's revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 EPS. On average, equities research analysts predict that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.78 per share. This is an increase from Gaming and Leisure Properties's previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.60%. The ex-dividend date is Friday, June 13th. Gaming and Leisure Properties's dividend payout ratio is currently 108.19%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Macquarie restated 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. Wedbush set a $55.00 price target on Gaming and Leisure Properties in a research note on Monday, April 28th. Barclays boosted their price objective 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. Scotiabank cut their price objective on Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating for the company in a research note on Monday, May 12th. Finally, Mizuho boosted their price objective on Gaming and Leisure Properties from $51.00 to $53.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Gaming and Leisure Properties currently has an average rating of "Moderate Buy" and an average price target of $54.63.

Insider Activity

In other news, SVP Matthew Demchyk sold 1,903 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $51.99, for a total transaction of $98,936.97. Following the completion of the transaction, the senior vice president now directly owns 41,298 shares in the company, valued at approximately $2,147,083.02. This represents a 4.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director E Scott Urdang sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $50.89, for a total value of $254,450.00. Following the transaction, the director now owns 140,953 shares of the company's stock, valued at $7,173,098.17. This represents a 3.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,842 shares of company stock worth $1,153,961. 4.26% of the stock is currently owned by insiders.

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.