Sumitomo Mitsui Trust Group Inc. Sells 28,473 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Sumitomo Mitsui Trust Group Inc. cut its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 1.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,695,993 shares of the real estate investment trust's stock after selling 28,473 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.62% of Gaming and Leisure Properties worth $87,259,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Gaming and Leisure Properties in the first quarter worth about $775,000. Russell Investments Group Ltd. lifted its holdings in shares of Gaming and Leisure Properties by 27.4% in the 1st quarter. Russell Investments Group Ltd. now owns 309,882 shares of the real estate investment trust's stock worth $14,276,000 after buying an additional 66,601 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in Gaming and Leisure Properties by 1.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 226,503 shares of the real estate investment trust's stock worth $10,435,000 after acquiring an additional 3,154 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Gaming and Leisure Properties by 11.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 306,766 shares of the real estate investment trust's stock worth $14,133,000 after buying an additional 31,864 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in Gaming and Leisure Properties during the first quarter valued at about $610,000. Institutional investors own 91.14% of the company's stock.

Wall Street Analysts Forecast Growth

GLPI has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a "hold" rating in a research report on Monday, July 29th. StockNews.com lowered Gaming and Leisure Properties from a "buy" rating to a "hold" rating in a research note on Monday, October 28th. Royal Bank of Canada lifted their target price on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an "outperform" rating in a research note on Monday, July 29th. Stifel Nicolaus boosted their target price on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a "buy" rating in a research report on Friday, July 26th. Finally, Raymond James raised their price target on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an "outperform" rating in a report on Wednesday, August 21st. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $52.54.

Gaming and Leisure Properties Stock Up 1.0 %

Shares of NASDAQ GLPI traded up $0.47 during trading hours on Friday, hitting $49.19. The stock had a trading volume of 942,310 shares, compared to its average volume of 1,315,078. The company has a market capitalization of $13.50 billion, a P/E ratio of 17.20, a P/E/G ratio of 2.11 and a beta of 0.99. The firm's 50-day moving average price is $50.74 and its two-hundred day moving average price is $48.15. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. 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 data on Thursday, October 24th. The real estate investment trust reported $0.67 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.25). The company had revenue of $385.34 million for the quarter, compared to analyst estimates of $385.09 million. Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The firm's quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 EPS. Analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.76 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.04 annualized dividend and a yield of 6.18%. Gaming and Leisure Properties's dividend payout ratio (DPR) is currently 106.29%.

Insiders Place Their Bets

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 6,885 shares of Gaming and Leisure Properties stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.16, for a total transaction of $345,351.60. Following the completion of the transaction, the director now directly owns 149,800 shares of the company's stock, valued at approximately $7,513,968. This trade represents a 4.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brandon John Moore sold 30,900 shares of the company's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the completion of the sale, the chief operating officer now directly owns 208,977 shares in the company, valued at approximately $10,459,298.85. The trade was a 12.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,758 shares of company stock worth $2,717,922 over the last 90 days. Corporate insiders own 4.37% of the company's stock.

Gaming and Leisure Properties Company Profile

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.