Korea Investment CORP Sells 32,000 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Korea Investment CORP lessened its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 308,705 shares of the real estate investment trust's stock after selling 32,000 shares during the quarter. Korea Investment CORP owned approximately 0.11% of Gaming and Leisure Properties worth $14,867,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Stonebridge Financial Group LLC bought a new position in Gaming and Leisure Properties in the 4th quarter valued at approximately $31,000. CKW Financial Group increased its position in 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 valued at $34,000 after acquiring an additional 300 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Gaming and Leisure Properties during the third quarter valued at $66,000. UMB Bank n.a. lifted its holdings in shares of Gaming and Leisure Properties by 57.4% during the fourth quarter. UMB Bank n.a. now owns 1,368 shares of the real estate investment trust's stock worth $66,000 after purchasing an additional 499 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Gaming and Leisure Properties by 59.7% during the fourth quarter. Venturi Wealth Management LLC now owns 1,730 shares of the real estate investment trust's stock worth $83,000 after purchasing an additional 647 shares during the period. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GLPI has been the subject of several analyst reports. Morgan Stanley lowered Gaming and Leisure Properties from an "overweight" rating to an "equal weight" rating and set a $53.00 target price for the company. in a research report on Wednesday, January 15th. Royal Bank of Canada decreased their price target on Gaming and Leisure Properties from $57.00 to $56.00 and set an "outperform" rating for the company in a research note on Monday, February 24th. JMP Securities reaffirmed a "market outperform" rating and issued a $55.00 price objective on shares of Gaming and Leisure Properties in a research note on Wednesday, December 18th. JPMorgan Chase & Co. raised shares of Gaming and Leisure Properties from a "neutral" rating to an "overweight" rating and increased their target price for the company from $49.00 to $54.00 in a research report on Friday, December 13th. Finally, Barclays dropped their price target on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 4th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.11.

Insider Activity

In other news, SVP Matthew Demchyk sold 17,617 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $49.40, for a total value of $870,279.80. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director E Scott Urdang sold 5,000 shares of Gaming and Leisure Properties stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $49.72, for a total value of $248,600.00. Following the transaction, the director now directly owns 145,953 shares in the company, valued at approximately $7,256,783.16. The trade was a 3.31 % 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 insiders.

Gaming and Leisure Properties Stock Down 3.1 %

Gaming and Leisure Properties stock traded down $1.53 during midday trading on Friday, reaching $47.89. The stock had a trading volume of 1,880,785 shares, compared to its average volume of 1,233,804. The company has a fifty day moving average price of $49.66 and a two-hundred day moving average price of $49.66. Gaming and Leisure Properties, Inc. has a 12 month low of $41.80 and a 12 month 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 company has a market capitalization of $13.16 billion, a P/E ratio of 16.69, a PEG ratio of 2.01 and a beta of 1.00.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.95 EPS 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 the consensus estimate of $391.54 million. As a group, equities analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.35%. The ex-dividend date of this dividend was Friday, March 14th. Gaming and Leisure Properties's dividend payout ratio (DPR) is 105.92%.

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.