Wellington Management Group LLP Cuts Stock Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Wellington Management Group LLP reduced its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 3.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,207,760 shares of the real estate investment trust's stock after selling 450,175 shares during the quarter. Wellington Management Group LLP owned 4.08% of Gaming and Leisure Properties worth $539,766,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of GLPI. Cerity Partners LLC raised its position in Gaming and Leisure Properties by 87.5% in the 3rd quarter. Cerity Partners LLC now owns 14,410 shares of the real estate investment trust's stock worth $741,000 after purchasing an additional 6,724 shares during the period. D.A. Davidson & CO. grew its stake in shares of Gaming and Leisure Properties by 14.6% during the third quarter. D.A. Davidson & CO. now owns 19,224 shares of the real estate investment trust's stock valued at $989,000 after buying an additional 2,449 shares during the last quarter. Townsquare Capital LLC purchased a new position in shares of Gaming and Leisure Properties in the third quarter worth about $241,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Gaming and Leisure Properties by 4.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,754 shares of the real estate investment trust's stock valued at $6,676,000 after acquiring an additional 5,744 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Gaming and Leisure Properties by 647.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,025,526 shares of the real estate investment trust's stock valued at $104,213,000 after acquiring an additional 1,754,370 shares during the period. 91.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on GLPI. Barclays decreased their price target on Gaming and Leisure Properties from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 4th. Scotiabank decreased their target price on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a "sector perform" rating on the stock in a research note on Thursday, January 16th. Morgan Stanley cut shares of Gaming and Leisure Properties from an "overweight" rating to an "equal weight" rating and set a $53.00 price target for the company. in a research report on Wednesday, January 15th. Wells Fargo & Company boosted their price objective on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. upgraded shares of Gaming and Leisure Properties from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $49.00 to $54.00 in a report on Friday, December 13th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $54.11.

Insiders Place Their Bets

In other news, SVP Matthew Demchyk sold 1,138 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $50.45, for a total value of $57,412.10. Following the sale, the senior vice president now directly owns 53,002 shares of the company's stock, valued at $2,673,950.90. The trade was a 2.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director E Scott Urdang sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $50.89, for a total value of $254,450.00. Following the transaction, the director now directly owns 140,953 shares of the company's stock, valued at approximately $7,173,098.17. This trade represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,933 shares of company stock worth $2,533,487. 4.37% of the stock is currently owned by company insiders.

Gaming and Leisure Properties Stock Down 3.1 %

Shares of NASDAQ:GLPI traded down $1.53 during trading on Friday, hitting $47.89. The stock had a trading volume of 1,880,785 shares, compared to its average volume of 1,235,001. The company has a market capitalization of $13.16 billion, a PE ratio of 16.69, 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 firm's fifty day moving average is $49.66 and its 200 day moving average is $49.65. Gaming and Leisure Properties, Inc. has a 12 month low of $41.80 and a 12 month high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $389.62 million during the quarter, compared to the consensus estimate of $391.54 million. Analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

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

About Gaming and Leisure Properties

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.