Gateway Investment Advisers LLC Sells 24,178 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Gateway Investment Advisers LLC lessened its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPIFree Report) by 29.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,653 shares of the real estate investment trust’s stock after selling 24,178 shares during the period. Gateway Investment Advisers LLC’s holdings in Gaming and Leisure Properties were worth $2,656,000 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. Wellington Management Group LLP increased its position in Gaming and Leisure Properties by 40.8% during the 4th quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust’s stock valued at $627,204,000 after buying an additional 3,684,553 shares in the last quarter. Norges Bank purchased a new stake in Gaming and Leisure Properties during the 4th quarter valued at $141,537,000. Jennison Associates LLC boosted its stake in Gaming and Leisure Properties by 54.8% during the 4th quarter. Jennison Associates LLC now owns 3,378,874 shares of the real estate investment trust’s stock valued at $166,747,000 after purchasing an additional 1,195,765 shares during the last quarter. Northern Trust Corp boosted its stake in Gaming and Leisure Properties by 30.2% during the 3rd quarter. Northern Trust Corp now owns 2,397,529 shares of the real estate investment trust’s stock valued at $109,207,000 after purchasing an additional 555,474 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Gaming and Leisure Properties by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 37,572,599 shares of the real estate investment trust’s stock valued at $1,711,432,000 after purchasing an additional 555,332 shares during the last quarter. Institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Trading Down 1.5 %

Shares of NASDAQ GLPI traded down $0.66 during trading hours on Tuesday, reaching $43.82. The stock had a trading volume of 164,610 shares, compared to its average volume of 1,329,538. The company has a current ratio of 6.47, a quick ratio of 6.47 and a debt-to-equity ratio of 1.49. The firm has a market cap of $11.90 billion, a price-to-earnings ratio of 16.41, a P/E/G ratio of 5.22 and a beta of 0.96. The business’s fifty day moving average price is $44.06 and its two-hundred day moving average price is $45.47. Gaming and Leisure Properties, Inc. has a 52-week low of $41.80 and a 52-week high of $50.06.

Gaming and Leisure Properties (NASDAQ:GLPIGet Free Report) last announced its earnings results on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.26). The company had revenue of $376.00 million for the quarter, compared to the consensus estimate of $368.44 million. Gaming and Leisure Properties had a net margin of 50.05% and a return on equity of 16.79%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business posted $0.92 EPS. Analysts expect that Gaming and Leisure Properties, Inc. will post 3.65 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a dividend of $0.76 per share. The ex-dividend date was Friday, June 7th. This represents a $3.04 annualized dividend and a yield of 6.94%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 112.18%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Mizuho cut their target price on Gaming and Leisure Properties from $47.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. StockNews.com downgraded Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Saturday, June 15th. Royal Bank of Canada decreased their price target on Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. JMP Securities reaffirmed a “market outperform” rating and issued a $53.00 target price on shares of Gaming and Leisure Properties in a report on Monday, June 17th. Finally, Scotiabank lifted their target price on Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $50.33.

Read Our Latest Analysis on GLPI

Gaming and Leisure Properties Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Gaming and Leisure Properties (NASDAQ:GLPI)

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