Charles Schwab Investment Management Inc. Sells 44,007 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Charles Schwab Investment Management Inc. decreased its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,283,459 shares of the real estate investment trust's stock after selling 44,007 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.20% of Gaming and Leisure Properties worth $158,131,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GLPI. Franklin Resources Inc. increased its position in shares of 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 valued at $641,059,000 after acquiring an additional 889,698 shares in the last quarter. State Street Corp increased its holdings in shares of Gaming and Leisure Properties by 1.4% in 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 worth $312,316,000 after purchasing an additional 161,689 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Gaming and Leisure Properties by 5.2% in the fourth quarter. Jennison Associates LLC now owns 4,287,118 shares of the real estate investment trust's stock worth $206,468,000 after purchasing an additional 211,657 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Gaming and Leisure Properties by 15.2% during the fourth quarter. Bank of New York Mellon Corp now owns 2,981,567 shares of the real estate investment trust's stock valued at $143,592,000 after purchasing an additional 394,069 shares in the last quarter. 91.14% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GLPI. Scotiabank decreased their target price on 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. Deutsche Bank Aktiengesellschaft raised shares of Gaming and Leisure Properties from a "hold" rating to a "buy" rating and boosted their price objective for the company from $49.00 to $54.00 in a report on Wednesday, November 20th. JMP Securities restated a "market outperform" rating and issued a $55.00 target price on shares of Gaming and Leisure Properties in a report on Wednesday, December 18th. Mizuho dropped their price target on Gaming and Leisure Properties from $52.00 to $51.00 and set a "neutral" rating on the stock in a research note on Thursday, November 14th. Finally, Barclays reduced their price objective on Gaming and Leisure Properties from $55.00 to $53.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 4th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $54.04.

Gaming and Leisure Properties Price Performance

NASDAQ:GLPI traded up $0.58 during trading hours on Friday, hitting $50.61. 2,344,373 shares of the stock traded hands, compared to its average volume of 1,187,841. The company has a market cap of $13.91 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00. Gaming and Leisure Properties, Inc. has a 1 year low of $41.80 and a 1 year high of $52.60. The stock has a 50 day moving average price of $48.53 and a 200 day moving average price of $49.80. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.94 by $0.01. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. The company had revenue of $389.62 million for the quarter, compared to analysts' expectations of $391.54 million. Sell-side 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 announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 6.01%. The ex-dividend date of this dividend is Friday, March 14th. Gaming and Leisure Properties's dividend payout ratio is currently 105.92%.

Insider Activity at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, COO Brandon John Moore sold 3,982 shares of Gaming and Leisure Properties stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $47.84, for a total value of $190,498.88. Following the sale, the chief operating officer now owns 278,634 shares of the company's stock, valued at $13,329,850.56. The trade was a 1.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Matthew Demchyk sold 1,149 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $47.80, for a total value of $54,922.20. Following the transaction, the senior vice president now owns 91,620 shares of the company's stock, valued at $4,379,436. This represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,161 shares of company stock valued at $2,425,521. 4.37% of the stock is owned by company insiders.

Gaming and Leisure Properties Company Profile

Gaming & Leisure Properties, Inc engages in 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.