Schonfeld Strategic Advisors LLC lessened its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 94.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,693 shares of the real estate investment trust's stock after selling 112,022 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Gaming and Leisure Properties were worth $322,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GLPI. Dodge & Cox raised its position in Gaming and Leisure Properties by 75.3% during the 4th quarter. Dodge & Cox now owns 13,498,634 shares of the real estate investment trust's stock valued at $650,094,000 after purchasing an additional 5,797,299 shares in the last quarter. Franklin Resources Inc. raised its stake 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 during the last quarter. Geode Capital Management LLC raised its stake 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 during the last quarter. Jennison Associates LLC grew its position in Gaming and Leisure Properties by 5.2% during 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 purchasing an additional 211,657 shares during the period. Finally, Norges Bank acquired a new stake in Gaming and Leisure Properties during the 4th quarter worth about $176,123,000. Institutional investors own 91.14% of the company's stock.
Insiders Place Their Bets
In other news, SVP Matthew Demchyk sold 1,903 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $51.99, for a total value of $98,936.97. Following the completion of the sale, the senior vice president now directly owns 41,298 shares of the company's stock, valued at approximately $2,147,083.02. This represents a 4.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director E Scott Urdang sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $49.72, for a total transaction of $248,600.00. Following the completion of the sale, the director now directly owns 145,953 shares of the company's stock, valued at approximately $7,256,783.16. This represents a 3.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,842 shares of company stock worth $1,153,961. Insiders own 4.26% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently issued reports on GLPI. Royal Bank of Canada lowered their price objective 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. Macquarie reiterated an "outperform" rating and issued a $60.00 price objective on shares of Gaming and Leisure Properties in a report on Friday, April 25th. Wells Fargo & Company lifted their price objective 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. Wedbush set a $55.00 price objective on Gaming and Leisure Properties in a report on Monday, April 28th. Finally, Barclays boosted their target price on 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. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently 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 Stock Performance
Shares of NASDAQ:GLPI traded up $0.72 during trading on Friday, reaching $47.61. 2,115,409 shares of the company's stock traded hands, compared to its average volume of 1,291,283. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35. Gaming and Leisure Properties, Inc. has a 12 month low of $42.86 and a 12 month high of $52.60. The company has a 50 day moving average of $48.55 and a 200-day moving average of $48.93. The stock has a market capitalization of $13.08 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 2.01 and a beta of 0.81.
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 net margin of 51.65% and a return on equity of 17.41%. The business had revenue of $395.24 million during the quarter, compared to the consensus estimate of $396.27 million. During the same quarter in the prior year, the firm earned $0.92 EPS. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 EPS 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. Shareholders of record on Friday, June 13th will be given a $0.78 dividend. This is a boost from Gaming and Leisure Properties's previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a yield of 6.55%. Gaming and Leisure Properties's dividend payout ratio is 108.19%.
About Gaming and Leisure Properties
(
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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