Los Angeles Capital Management LLC lowered its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 87.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,877 shares of the real estate investment trust's stock after selling 54,612 shares during the quarter. Los Angeles Capital Management LLC's holdings in Gaming and Leisure Properties were worth $379,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Gaming and Leisure Properties by 8.7% during the fourth quarter. GAMMA Investing LLC now owns 2,826 shares of the real estate investment trust's stock valued at $136,000 after purchasing an additional 226 shares during the last quarter. Opal Wealth Advisors LLC boosted its holdings in shares of Gaming and Leisure Properties by 4.9% during the 4th quarter. Opal Wealth Advisors LLC now owns 5,082 shares of the real estate investment trust's stock valued at $245,000 after purchasing an additional 238 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in Gaming and Leisure Properties by 5.1% in the third quarter. Integrated Wealth Concepts LLC now owns 5,433 shares of the real estate investment trust's stock worth $280,000 after purchasing an additional 262 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Gaming and Leisure Properties by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 7,948 shares of the real estate investment trust's stock valued at $409,000 after acquiring an additional 278 shares during the last quarter. Finally, CKW Financial Group boosted its holdings in shares of Gaming and Leisure Properties by 75.0% in the 4th quarter. CKW Financial Group now owns 700 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 91.14% of the company's stock.
Wall Street Analyst Weigh In
GLPI has been the subject of several research analyst reports. JPMorgan Chase & Co. upgraded Gaming and Leisure Properties from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $49.00 to $54.00 in a research report on Friday, December 13th. Stifel Nicolaus increased their target price on shares of Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Royal Bank of Canada reduced their price target on shares of Gaming and Leisure Properties from $57.00 to $56.00 and set an "outperform" rating for the company in a report on Monday, February 24th. Morgan Stanley lowered shares of Gaming and Leisure Properties from an "overweight" rating to an "equal weight" rating and set a $53.00 price objective on the stock. in a report on Wednesday, January 15th. Finally, Scotiabank lowered 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 report on Thursday, January 16th. Six investment 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, Gaming and Leisure Properties has a consensus rating of "Moderate Buy" and an average price target of $54.04.
Read Our Latest Stock Analysis on GLPI
Gaming and Leisure Properties Stock Performance
Shares of GLPI traded up $0.60 during mid-day trading on Friday, reaching $50.63. The company had a trading volume of 1,158,078 shares, compared to its average volume of 1,183,616. The stock has a 50 day moving average of $48.44 and a two-hundred day moving average 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. The stock has a market capitalization of $13.91 billion, a P/E ratio of 17.64, a PEG ratio of 2.01 and a beta of 0.99. Gaming and Leisure Properties, Inc. has a 52-week low of $41.80 and a 52-week high of $52.60.
Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.01. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. The firm had revenue of $389.62 million during the quarter, compared to analyst estimates of $391.54 million. On average, analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current year.
Gaming and Leisure Properties Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 6.00%. The ex-dividend date is Friday, March 14th. Gaming and Leisure Properties's payout ratio is 105.92%.
Insiders Place Their Bets
In related news, COO Brandon John Moore sold 3,982 shares of the firm's stock in a transaction dated 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 approximately $13,329,850.56. This trade represents a 1.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Matthew Demchyk sold 17,617 shares of the business's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $49.40, for a total transaction of $870,279.80. Following the completion of the transaction, the senior vice president now owns 54,140 shares in the company, valued at $2,674,516. The trade was a 24.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 49,161 shares of company stock worth $2,425,521. Corporate insiders own 4.37% of the company's stock.
About Gaming and Leisure Properties
(
Free Report)
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.
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