Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd cut its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 3.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,339,108 shares of the real estate investment trust’s stock after selling 51,879 shares during the period. Ninety One UK Ltd’s holdings in Gaming and Leisure Properties were worth $66,085,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GLPI. Federated Hermes Inc. lifted its stake in Gaming and Leisure Properties by 4.4% in the fourth quarter. Federated Hermes Inc. now owns 1,111,911 shares of the real estate investment trust’s stock worth $54,873,000 after acquiring an additional 47,179 shares during the last quarter. GraniteShares Advisors LLC purchased a new stake in shares of Gaming and Leisure Properties during the 4th quarter worth $1,473,000. Cornercap Investment Counsel Inc. lifted its position in shares of Gaming and Leisure Properties by 97.5% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 21,443 shares of the real estate investment trust’s stock worth $1,058,000 after purchasing an additional 10,588 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Gaming and Leisure Properties by 5.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,780,127 shares of the real estate investment trust’s stock worth $87,849,000 after purchasing an additional 88,811 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in Gaming and Leisure Properties in the fourth quarter valued at $3,701,000. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Stock Performance

NASDAQ GLPI traded up $0.17 on Thursday, hitting $42.20. 466,891 shares of the company’s stock were exchanged, compared to its average volume of 1,421,382. The company has a debt-to-equity ratio of 1.48, a current ratio of 7.41 and a quick ratio of 7.41. The firm’s 50-day moving average price is $45.15 and its two-hundred day moving average price is $46.00. The firm has a market cap of $11.46 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 5.26 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.

Gaming and Leisure Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors 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 yield of 7.20%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. Gaming and Leisure Properties’s dividend payout ratio is currently 109.75%.

Insiders Place Their Bets

In related news, Director E Scott Urdang bought 2,500 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the transaction, the director now owns 156,685 shares of the company’s stock, valued at $7,050,825. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GLPI has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their price target on Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Morgan Stanley decreased their target price on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st. JMP Securities restated a “market outperform” rating and set a $53.00 price objective on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. Mizuho dropped their target price on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Finally, StockNews.com raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.