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

Clearbridge Investments LLC trimmed its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 9.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 approximately 0.29% of Gaming and Leisure Properties worth $37,833,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in shares of Gaming and Leisure Properties by 7.8% during 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 purchasing an additional 889,698 shares during the last quarter. State Street Corp raised its stake in Gaming and Leisure Properties by 1.4% in the third quarter. State Street Corp now owns 12,135,195 shares of the real estate investment trust's stock valued at $624,356,000 after buying an additional 162,484 shares during the last quarter. Geode Capital Management LLC raised its stake in Gaming and Leisure Properties by 2.7% in the third 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 during the last quarter. Jennison Associates LLC boosted its holdings in 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 acquiring an additional 211,657 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth about $176,123,000. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Gaming and Leisure Properties Stock Performance

NASDAQ GLPI traded down $1.53 during mid-day trading on Friday, reaching $47.89. 1,880,785 shares of the stock were exchanged, compared to its average volume of 1,235,001. The company has a market capitalization of $13.16 billion, a P/E ratio of 16.69, a P/E/G ratio of 2.01 and a beta of 0.72. 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 business's 50 day moving average is $49.66 and its 200-day moving average is $49.64. Gaming and Leisure Properties, Inc. has a 1 year low of $41.80 and a 1 year high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted 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. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. The business had revenue of $389.62 million for the quarter, compared to analyst estimates of $391.54 million. 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 disclosed 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 annualized dividend and a yield of 6.35%. The ex-dividend date of this dividend was Friday, March 14th. Gaming and Leisure Properties's payout ratio is currently 105.92%.

Insider Activity

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,000 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $50.89, for a total transaction of $254,450.00. Following the transaction, the director now directly owns 140,953 shares of the company's stock, valued at $7,173,098.17. This trade represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Matthew Demchyk sold 17,617 shares of the business's 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 of the company's stock, valued at $2,674,516. This represents a 24.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,933 shares of company stock worth $2,533,487 over the last three months. 4.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on GLPI shares. Royal Bank of Canada decreased 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 report on Monday, February 24th. Wells Fargo & Company lifted their price objective 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. Mizuho upped their target price on Gaming and Leisure Properties from $51.00 to $53.00 and gave the company a "neutral" rating in a research report on Thursday. JPMorgan Chase & Co. raised Gaming and Leisure Properties from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $49.00 to $54.00 in a research report on Friday, December 13th. Finally, Morgan Stanley cut Gaming and Leisure Properties from an "overweight" rating to an "equal weight" rating and set a $53.00 price objective for the company. in a research note on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $54.11.

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.