Allstate Corp Trims Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Allstate Corp trimmed its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 13.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,384 shares of the real estate investment trust's stock after selling 11,869 shares during the quarter. Allstate Corp's holdings in Gaming and Leisure Properties were worth $3,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of GLPI. Stonebridge Financial Group LLC purchased a new position in shares of Gaming and Leisure Properties in the fourth quarter valued at about $31,000. CKW Financial Group grew its stake in shares of Gaming and Leisure Properties by 75.0% in the fourth quarter. CKW Financial Group now owns 700 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 300 shares during the last quarter. Brooklyn Investment Group purchased a new position in Gaming and Leisure Properties during the 3rd quarter valued at about $39,000. Wilmington Savings Fund Society FSB bought a new position in Gaming and Leisure Properties during the 3rd quarter valued at approximately $66,000. Finally, UMB Bank n.a. lifted its holdings in Gaming and Leisure Properties by 57.4% in the 4th quarter. UMB Bank n.a. now owns 1,368 shares of the real estate investment trust's stock worth $66,000 after buying an additional 499 shares during the period. 91.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on GLPI. Royal Bank of Canada reduced their target price on Gaming and Leisure Properties from $57.00 to $56.00 and set an "outperform" rating on the stock in a research note on Monday, February 24th. Morgan Stanley downgraded shares of Gaming and Leisure Properties from an "overweight" rating to an "equal weight" rating and set a $53.00 price objective on the stock. in a research report on Wednesday, January 15th. 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 report on Monday, March 10th. JMP Securities reiterated a "market outperform" rating and set a $55.00 price target on shares of Gaming and Leisure Properties in a research report on Wednesday, December 18th. Finally, Scotiabank lowered their price objective on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a "sector perform" rating for the company in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Gaming and Leisure Properties presently has an average rating of "Moderate Buy" and an average price target of $53.96.

Gaming and Leisure Properties Stock Down 0.1 %

Shares of GLPI traded down $0.05 during trading hours on Wednesday, hitting $50.73. The company had a trading volume of 406,280 shares, compared to its average volume of 1,222,712. Gaming and Leisure Properties, Inc. has a 52-week low of $41.80 and a 52-week high of $52.60. The firm has a fifty day moving average price of $49.58 and a 200-day moving average price of $49.68. The stock has a market capitalization of $13.94 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 2.01 and a beta of 1.00. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35.

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

Gaming and Leisure Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 5.99%. The ex-dividend date of this dividend was Friday, March 14th. Gaming and Leisure Properties's dividend payout ratio is currently 105.92%.

Insider Activity

In other news, SVP Matthew Demchyk sold 10,474 shares of Gaming and Leisure Properties stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $48.62, for a total value of $509,245.88. Following the completion of the sale, the senior vice president now directly owns 71,757 shares in the company, valued at $3,488,825.34. The trade was a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Brandon John Moore sold 3,982 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $47.84, for a total transaction of $190,498.88. Following the transaction, the chief operating officer now owns 278,634 shares in the company, valued at approximately $13,329,850.56. This trade represents a 1.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,064 shares of company stock valued at $2,778,908 over the last ninety days. 4.37% of the stock is currently owned by corporate insiders.

Gaming and Leisure Properties 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.