Wellington Management Group LLP Reduces Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Wellington Management Group LLP cut its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 3.9% during the 4th quarter, Holdings Channel.com reports. 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’s holdings in Gaming and Leisure Properties were worth $539,766,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in GLPI. GAMMA Investing LLC boosted its position in Gaming and Leisure Properties by 8.7% during the 4th quarter. GAMMA Investing LLC now owns 2,826 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 226 shares in the last quarter. Opal Wealth Advisors LLC lifted its stake in shares of Gaming and Leisure Properties by 4.9% in 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 period. Integrated Wealth Concepts LLC boosted its position in shares of Gaming and Leisure Properties by 5.1% during the third quarter. Integrated Wealth Concepts LLC now owns 5,433 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 262 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Gaming and Leisure Properties by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 55,881 shares of the real estate investment trust’s stock worth $2,691,000 after purchasing an additional 277 shares during the period. Finally, CKW Financial Group grew its stake in Gaming and Leisure Properties by 75.0% in the fourth 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. 91.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GLPI has been the topic of a number of research reports. Morgan Stanley cut shares of Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 target price on the stock. in a report on Wednesday, January 15th. Scotiabank dropped their price objective 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. Barclays decreased their target price on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 4th. Royal Bank of Canada cut their price target on Gaming and Leisure Properties from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. Finally, JMP Securities reiterated a “market outperform” rating and set a $55.00 price objective on shares of Gaming and Leisure Properties in a research note on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Gaming and Leisure Properties has a consensus rating of “Moderate Buy” and an average price target of $53.96.

Gaming and Leisure Properties Trading Up 1.0 %

Gaming and Leisure Properties stock opened at $50.90 on Tuesday. Gaming and Leisure Properties, Inc. has a one year low of $41.80 and a one year high of $52.60. The business’s fifty day moving average is $49.55 and its 200 day moving average is $49.69. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35. The stock has a market capitalization of $13.99 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share for the quarter, beating 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, sell-side analysts predict that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 5.97%. The ex-dividend date was Friday, March 14th. Gaming and Leisure Properties’s payout ratio is currently 105.92%.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, SVP Matthew Demchyk sold 1,149 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $47.80, for a total transaction of $54,922.20. Following the sale, the senior vice president now directly owns 91,620 shares in the company, valued at $4,379,436. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director E Scott Urdang sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $50.89, for a total transaction of $254,450.00. Following the completion of the transaction, the director now directly owns 140,953 shares of the company’s stock, valued at $7,173,098.17. This represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,064 shares of company stock valued at $2,778,908. Insiders own 4.37% of the company’s stock.

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.