Shikiar Asset Management Inc. Sells 35,773 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Shikiar Asset Management Inc. trimmed its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 40.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,277 shares of the real estate investment trust's stock after selling 35,773 shares during the period. Gaming and Leisure Properties comprises 0.8% of Shikiar Asset Management Inc.'s investment portfolio, making the stock its 26th largest position. Shikiar Asset Management Inc.'s holdings in Gaming and Leisure Properties were worth $2,580,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GLPI. Norges Bank purchased a new position in shares of Gaming and Leisure Properties in the fourth quarter valued at $129,106,000. Bank of New York Mellon Corp boosted its stake in shares of Gaming and Leisure Properties by 78.5% in the third quarter. Bank of New York Mellon Corp now owns 2,906,793 shares of the real estate investment trust's stock valued at $132,404,000 after purchasing an additional 1,278,566 shares during the period. Wellington Management Group LLP boosted its stake in shares of Gaming and Leisure Properties by 13.6% in the first quarter. Wellington Management Group LLP now owns 10,515,906 shares of the real estate investment trust's stock valued at $493,511,000 after purchasing an additional 1,255,222 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Gaming and Leisure Properties by 811.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,349,554 shares of the real estate investment trust's stock valued at $70,260,000 after purchasing an additional 1,201,444 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Gaming and Leisure Properties by 3.6% in the first quarter. Vanguard Group Inc. now owns 34,218,955 shares of the real estate investment trust's stock valued at $1,605,894,000 after purchasing an additional 1,199,697 shares during the period. 91.14% of the stock is owned by institutional investors and hedge funds.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ:GLPI traded up $0.45 on Friday, reaching $42.80. 1,061,371 shares of the company's stock were exchanged, compared to its average volume of 1,035,525. The firm has a market capitalization of $11.62 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 5.35 and a beta of 0.94. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.80 and a fifty-two week high of $52.45. The business's 50-day moving average is $45.03 and its two-hundred day moving average is $45.97. The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 1.48.

Gaming and Leisure Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 7.10%. This is a boost from Gaming and Leisure Properties's previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Thursday, March 14th. Gaming and Leisure Properties's dividend payout ratio is 109.75%.

Insider Buying and Selling

In other news, Director E Scott Urdang acquired 2,500 shares of the company's stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average price of $45.00 per share, with a total value of $112,500.00. Following the acquisition, the director now directly owns 156,685 shares in the company, valued at $7,050,825. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GLPI shares. Mizuho cut their price target on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a "neutral" rating on the stock in a report on Thursday, March 7th. Morgan Stanley cut their price target on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an "overweight" rating on the stock in a report on Thursday, March 21st. JMP Securities reaffirmed a "market outperform" rating and issued a $53.00 price target on shares of Gaming and Leisure Properties in a report on Monday, March 4th. StockNews.com raised shares of Gaming and Leisure Properties from a "hold" rating to a "buy" rating in a report on Thursday, February 29th. Finally, Royal Bank of Canada cut their price target on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set an "outperform" rating on the stock in a report on Thursday, February 29th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Gaming and Leisure Properties presently has an average rating of "Moderate Buy" and an average target price of $52.09.

Gaming and Leisure Properties Company Profile

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.