Franklin Resources Inc. Boosts Stock Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Franklin Resources Inc. grew its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 7.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,259,224 shares of the real estate investment trust's stock after acquiring an additional 889,698 shares during the quarter. Franklin Resources Inc. owned about 4.47% of Gaming and Leisure Properties worth $641,059,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GLPI. Assetmark Inc. increased its stake in Gaming and Leisure Properties by 2,547.6% during the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 535 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Gaming and Leisure Properties during the second quarter valued at approximately $31,000. EdgeRock Capital LLC purchased a new position in Gaming and Leisure Properties in the 2nd quarter worth approximately $33,000. Farther Finance Advisors LLC raised its holdings in Gaming and Leisure Properties by 142.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 384 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Gaming and Leisure Properties by 578.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 590 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors.

Gaming and Leisure Properties Stock Performance

Gaming and Leisure Properties stock traded up $0.49 during trading on Friday, reaching $50.09. The company had a trading volume of 1,173,994 shares, compared to its average volume of 1,299,698. The firm's 50-day simple moving average is $50.49 and its 200 day simple moving average is $49.00. Gaming and Leisure Properties, Inc. has a 52 week low of $41.80 and a 52 week high of $52.60. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $13.74 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 2.10 and a beta of 0.98.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.25). Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The company had revenue of $385.34 million for the quarter, compared to analysts' expectations of $385.09 million. During the same period in the previous year, the firm earned $0.92 earnings per share. The firm's quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts forecast that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 6.07%. The ex-dividend date of this dividend is Friday, December 6th. Gaming and Leisure Properties's dividend payout ratio is currently 106.29%.

Insiders Place Their Bets

In other news, Director E Scott Urdang sold 3,000 shares of the business's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $50.39, for a total value of $151,170.00. Following the transaction, the director now directly owns 146,800 shares in the company, valued at $7,397,252. The trade was a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GLPI shares. Wells Fargo & Company restated an "equal weight" rating and issued a $52.00 price target (up previously from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Mizuho decreased their target price on Gaming and Leisure Properties from $52.00 to $51.00 and set a "neutral" rating for the company in a research report on Thursday, November 14th. Raymond James raised their price target on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an "outperform" rating in a report on Wednesday, August 21st. JMP Securities reiterated a "market outperform" rating and issued a $55.00 price target on shares of Gaming and Leisure Properties in a research note on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Gaming and Leisure Properties from a "hold" rating to a "buy" rating and increased their price objective for the company from $49.00 to $54.00 in a research report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $53.96.

About Gaming and Leisure Properties

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.