Corebridge Financial Inc. Trims Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Corebridge Financial Inc. lessened its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 4.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 310,385 shares of the real estate investment trust's stock after selling 13,990 shares during the period. Corebridge Financial Inc. owned 0.11% of Gaming and Leisure Properties worth $14,948,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Resources Inc. raised its holdings 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 purchasing an additional 889,698 shares during the period. State Street Corp grew its stake 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 valued at $624,356,000 after buying an additional 162,484 shares during the period. Geode Capital Management LLC increased its position in 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 valued at $312,316,000 after buying an additional 161,689 shares in the last quarter. Jennison Associates LLC raised its stake in Gaming and Leisure Properties by 5.2% during the 4th quarter. Jennison Associates LLC now owns 4,287,118 shares of the real estate investment trust's stock worth $206,468,000 after buying an additional 211,657 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Gaming and Leisure Properties by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,327,466 shares of the real estate investment trust's stock worth $171,198,000 after buying an additional 96,028 shares during the period. 91.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GLPI. Morgan Stanley downgraded 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 report on Wednesday, January 15th. JPMorgan Chase & Co. upgraded shares of Gaming and Leisure Properties from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $49.00 to $54.00 in a research note on Friday, December 13th. Barclays lowered their price objective on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 4th. JMP Securities reiterated a "market outperform" rating and set a $55.00 price objective on shares of Gaming and Leisure Properties in a report on Wednesday, December 18th. Finally, Wells Fargo & Company upped 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 report on Monday, March 10th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, Gaming and Leisure Properties has a consensus rating of "Moderate Buy" and an average price target of $53.96.

Gaming and Leisure Properties Stock Performance

GLPI stock traded down $0.09 during midday trading on Friday, hitting $50.40. The company's stock had a trading volume of 887,396 shares, compared to its average volume of 1,221,534. The stock has a market cap of $13.85 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 2.01 and a beta of 1.00. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. The stock's 50-day moving average price is $49.49 and its 200 day moving average price is $49.71. 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 issued its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share for the quarter, topping 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 the consensus estimate of $391.54 million. On average, equities analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.76 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.03%. Gaming and Leisure Properties's dividend payout ratio (DPR) is presently 105.92%.

Insider Activity at Gaming and Leisure Properties

In related news, COO Brandon John Moore sold 3,982 shares of Gaming and Leisure Properties stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $47.84, for a total value of $190,498.88. Following the completion of the sale, the chief operating officer now owns 278,634 shares of the company's stock, valued at approximately $13,329,850.56. This trade represents a 1.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Matthew Demchyk sold 1,149 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $47.80, for a total value of $54,922.20. Following the completion of the sale, the senior vice president now owns 91,620 shares in the company, 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. Over the last quarter, insiders have sold 56,064 shares of company stock worth $2,778,908. Insiders own 4.37% of the company's stock.

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.