Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Sold by Allstate Corp

Allstate Corp reduced its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 13.8% during the 4th quarter, HoldingsChannel reports. The fund owned 74,384 shares of the real estate investment trust’s stock after selling 11,869 shares during the period. Allstate Corp’s holdings in Gaming and Leisure Properties were worth $3,582,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Franklin Resources Inc. raised its position in Gaming and Leisure Properties by 7.8% during the third quarter. Franklin Resources Inc. now owns 12,259,224 shares of the real estate investment trust’s stock worth $641,059,000 after acquiring an additional 889,698 shares during the period. State Street Corp raised its position in shares of Gaming and Leisure Properties by 1.4% during the 3rd quarter. State Street Corp now owns 12,135,195 shares of the real estate investment trust’s stock worth $624,356,000 after purchasing an additional 162,484 shares during the last quarter. Geode Capital Management LLC lifted its stake in Gaming and Leisure Properties by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,080,860 shares of the real estate investment trust’s stock valued at $312,316,000 after buying an additional 161,689 shares in the last quarter. Jennison Associates LLC lifted its stake in Gaming and Leisure Properties by 5.2% in the 4th quarter. Jennison Associates LLC now owns 4,287,118 shares of the real estate investment trust’s stock valued at $206,468,000 after buying an additional 211,657 shares in the last quarter. Finally, Norges Bank acquired a new stake in Gaming and Leisure Properties in the 4th quarter worth about $176,123,000. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Gaming and Leisure Properties Trading Down 0.2 %

Shares of Gaming and Leisure Properties stock opened at $50.40 on Friday. The stock has a 50 day moving average of $49.49 and a 200 day moving average of $49.73. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. The firm has a market capitalization of $13.85 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 2.01 and a beta of 1.00. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.80 and a fifty-two week high of $52.60.

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

Gaming and Leisure Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.76 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.04 annualized dividend and a dividend yield of 6.03%. Gaming and Leisure Properties’s dividend payout ratio is currently 105.92%.

Analyst Ratings Changes

Several research firms have recently weighed in on GLPI. JPMorgan Chase & Co. upgraded Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and raised their target price for the company from $49.00 to $54.00 in a research report on Friday, December 13th. JMP Securities reaffirmed a “market outperform” rating and set a $55.00 target price on shares of Gaming and Leisure Properties in a report on Wednesday, December 18th. Scotiabank decreased their price target on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. Barclays dropped their price objective on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company raised their target price on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.96.

Insider Buying and Selling

In related news, Director E Scott Urdang sold 5,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 145,953 shares in the company, valued at $7,256,783.16. This trade represents a 3.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Matthew Demchyk sold 1,149 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $47.80, for a total transaction of $54,922.20. Following the sale, the senior vice president now owns 91,620 shares in the company, valued at $4,379,436. This trade represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,064 shares of company stock valued at $2,778,908. Company insiders own 4.37% of the company’s stock.

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.