Forsta AP Fonden Lowers Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Forsta AP Fonden reduced its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 9.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,600 shares of the real estate investment trust's stock after selling 9,000 shares during the quarter. Forsta AP Fonden's holdings in Gaming and Leisure Properties were worth $4,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. grew its stake 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 worth $641,059,000 after acquiring an additional 889,698 shares during the period. State Street Corp lifted its holdings in Gaming and Leisure Properties by 1.4% during 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 purchasing an additional 162,484 shares during the last quarter. Geode Capital Management LLC boosted its position in Gaming and Leisure Properties by 2.7% during the third 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 during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Gaming and Leisure Properties by 6.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,534,033 shares of the real estate investment trust's stock worth $284,726,000 after purchasing an additional 341,492 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Gaming and Leisure Properties by 25.3% in the third quarter. Jennison Associates LLC now owns 4,075,461 shares of the real estate investment trust's stock valued at $209,682,000 after purchasing an additional 821,634 shares during the period. 91.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, COO Brandon John Moore sold 3,982 shares of the company's stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 278,634 shares in the company, valued at $13,329,850.56. This represents a 1.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Matthew Demchyk sold 1,149 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $47.80, for a total transaction of $54,922.20. Following the transaction, the senior vice president now directly owns 91,620 shares of the company's stock, valued at approximately $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. Insiders sold a total of 33,222 shares of company stock valued at $1,624,947 over the last quarter. 4.37% of the stock is owned by corporate insiders.

Gaming and Leisure Properties Price Performance

NASDAQ GLPI traded up $0.14 during trading hours on Tuesday, reaching $48.56. 922,648 shares of the stock traded hands, compared to its average volume of 1,002,765. 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 stock has a 50 day simple moving average of $48.65 and a two-hundred day simple moving average of $49.79. Gaming and Leisure Properties, Inc. has a 1 year low of $41.80 and a 1 year high of $52.60. The company has a market cap of $13.32 billion, a price-to-earnings ratio of 16.98, a price-to-earnings-growth ratio of 1.97 and a beta of 0.99.

Gaming and Leisure Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a $0.76 dividend. The ex-dividend date was Friday, December 6th. This represents a $3.04 dividend on an annualized basis and a yield of 6.26%. Gaming and Leisure Properties's payout ratio is 106.29%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GLPI. Mizuho cut their price objective on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a "neutral" rating for the company in a report on Thursday, November 14th. Scotiabank cut their price target on 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. Deutsche Bank Aktiengesellschaft upgraded 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 research note on Wednesday, November 20th. JPMorgan Chase & Co. upgraded Gaming and Leisure Properties from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $49.00 to $54.00 in a research note on Friday, December 13th. Finally, Stifel Nicolaus upped their price target on Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Six investment 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.com, Gaming and Leisure Properties presently has a consensus rating of "Moderate Buy" and an average target price of $53.93.

About Gaming and Leisure Properties

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.