Nuveen Asset Management LLC Lowers Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Nuveen Asset Management LLC cut its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 4.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,936,572 shares of the real estate investment trust's stock after selling 124,014 shares during the period. Nuveen Asset Management LLC owned about 1.07% of Gaming and Leisure Properties worth $141,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of Gaming and Leisure Properties by 129.1% in the 3rd quarter. Barclays PLC now owns 896,831 shares of the real estate investment trust's stock valued at $46,142,000 after purchasing an additional 505,382 shares in the last quarter. Gateway Investment Advisers LLC increased its stake in shares of Gaming and Leisure Properties by 85.8% during the fourth quarter. Gateway Investment Advisers LLC now owns 37,925 shares of the real estate investment trust's stock worth $1,826,000 after purchasing an additional 17,511 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth about $526,000. HB Wealth Management LLC purchased a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth about $211,000. Finally, UMB Bank n.a. boosted its position in Gaming and Leisure Properties by 57.4% during the fourth quarter. UMB Bank n.a. now owns 1,368 shares of the real estate investment trust's stock worth $66,000 after acquiring an additional 499 shares during the last quarter. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GLPI shares. Barclays boosted their price target 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. Royal Bank of Canada decreased their target price on shares of 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. Wells Fargo & Company boosted their target price on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Wedbush set a $55.00 price objective on shares of Gaming and Leisure Properties in a report on Monday, April 28th. Finally, Scotiabank decreased their price objective on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating on the stock in a report on Monday, May 12th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Gaming and Leisure Properties currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.63.

Gaming and Leisure Properties Stock Down 0.4%

Shares of NASDAQ GLPI traded down $0.21 during mid-day trading on Tuesday, reaching $47.30. The company had a trading volume of 1,106,322 shares, compared to its average volume of 1,293,062. 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 50 day simple moving average of $48.51 and a two-hundred day simple moving average of $48.89. The stock has a market cap of $13.00 billion, a P/E ratio of 16.48, a PEG ratio of 2.01 and a beta of 0.81. Gaming and Leisure Properties, Inc. has a 52-week low of $42.86 and a 52-week high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share for the quarter, hitting analysts' consensus estimates of $0.96. The firm had revenue of $395.24 million during the quarter, compared to analysts' expectations of $396.27 million. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. Gaming and Leisure Properties's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 EPS. Sell-side 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 company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 6.60%. The ex-dividend date is Friday, June 13th. This is a boost from Gaming and Leisure Properties's previous quarterly dividend of $0.76. Gaming and Leisure Properties's dividend payout ratio (DPR) is 108.19%.

Insider Transactions at Gaming and Leisure Properties

In other 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 value of $254,450.00. Following the completion of the transaction, the director now owns 140,953 shares in the company, valued at $7,173,098.17. This trade represents a 3.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Matthew Demchyk sold 1,138 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $50.45, for a total transaction of $57,412.10. Following the completion of the transaction, the senior vice president now owns 53,002 shares of the company's stock, valued at $2,673,950.90. This represents a 2.10% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,842 shares of company stock worth $1,153,961. Company insiders own 4.26% of the company's stock.

Gaming and Leisure Properties 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.