Clearbridge Investments LLC Lowers Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Clearbridge Investments LLC trimmed its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 785,579 shares of the real estate investment trust’s stock after selling 81,837 shares during the period. Clearbridge Investments LLC owned about 0.29% of Gaming and Leisure Properties worth $37,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of GLPI. Norges Bank bought a new position in shares of Gaming and Leisure Properties during the fourth quarter valued at approximately $176,123,000. Raymond James Financial Inc. bought a new stake in Gaming and Leisure Properties during the 4th quarter valued at $49,188,000. Franklin Resources Inc. increased its holdings in shares of Gaming and Leisure Properties by 7.8% in the 3rd quarter. Franklin Resources Inc. now owns 12,259,224 shares of the real estate investment trust’s stock valued at $641,059,000 after acquiring an additional 889,698 shares during the period. Janus Henderson Group PLC raised its position in shares of Gaming and Leisure Properties by 6,162.9% in the 3rd quarter. Janus Henderson Group PLC now owns 812,981 shares of the real estate investment trust’s stock worth $41,820,000 after acquiring an additional 800,000 shares in the last quarter. Finally, Aew Capital Management L P lifted its stake in shares of Gaming and Leisure Properties by 1,786.5% during the 4th quarter. Aew Capital Management L P now owns 761,600 shares of the real estate investment trust’s stock worth $36,679,000 after purchasing an additional 721,230 shares during the last quarter. Institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Down 0.2 %

NASDAQ:GLPI opened at $50.78 on Wednesday. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35. The company’s fifty day moving average price is $49.58 and its 200-day moving average price is $49.68. Gaming and Leisure Properties, Inc. has a 1-year low of $41.80 and a 1-year high of $52.60. The firm has a market capitalization of $13.96 billion, a P/E ratio of 17.69, a PEG ratio of 2.01 and a beta of 1.00.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.01. The company had revenue of $389.62 million for the quarter, compared to the consensus estimate of $391.54 million. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. As a group, equities research analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 5.99%. The ex-dividend date of this dividend was Friday, March 14th. Gaming and Leisure Properties’s payout ratio is presently 105.92%.

Insiders Place Their Bets

In other Gaming and Leisure Properties news, COO Brandon John Moore sold 3,982 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $47.84, for a total value of $190,498.88. Following the completion of the transaction, the chief operating officer now owns 278,634 shares in the company, valued at approximately $13,329,850.56. This represents a 1.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Matthew Demchyk sold 17,617 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $49.40, for a total transaction of $870,279.80. Following the sale, the senior vice president now directly owns 54,140 shares in the company, valued at approximately $2,674,516. The trade was a 24.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,064 shares of company stock worth $2,778,908. Corporate insiders own 4.37% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on GLPI shares. JMP Securities reiterated a “market outperform” rating and issued a $55.00 target price on shares of Gaming and Leisure Properties in a research note on Wednesday, December 18th. Royal Bank of Canada reduced their price objective on shares of Gaming and Leisure Properties from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. Scotiabank decreased their target price on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. Morgan Stanley lowered shares of Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price target on the stock. in a report on Wednesday, January 15th. Finally, Wells Fargo & Company increased their price objective on 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. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.96.

Gaming and Leisure Properties Company 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.