Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 310,385 shares of the real estate investment trust’s stock after selling 13,990 shares during the quarter. Corebridge Financial Inc. owned approximately 0.11% of Gaming and Leisure Properties worth $14,948,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GLPI. Franklin Resources Inc. lifted its position in Gaming and Leisure Properties by 7.8% during the third quarter. Franklin Resources Inc. now owns 12,259,224 shares of the real estate investment trust’s stock worth $641,059,000 after buying an additional 889,698 shares during the period. State Street Corp lifted its holdings in shares of Gaming and Leisure Properties by 1.4% during the 3rd quarter. State Street Corp now owns 12,135,195 shares of the real estate investment trust’s stock worth $624,356,000 after acquiring an additional 162,484 shares during the period. Geode Capital Management LLC boosted its position in shares of Gaming and Leisure Properties by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,080,860 shares of the real estate investment trust’s stock worth $312,316,000 after acquiring an additional 161,689 shares during the last quarter. Jennison Associates LLC grew its holdings in Gaming and Leisure Properties by 5.2% in the fourth quarter. Jennison Associates LLC now owns 4,287,118 shares of the real estate investment trust’s stock valued at $206,468,000 after purchasing an additional 211,657 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Gaming and Leisure Properties by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,327,466 shares of the real estate investment trust’s stock worth $171,198,000 after purchasing an additional 96,028 shares during the last quarter. Institutional investors and hedge funds own 91.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GLPI shares. Royal Bank of Canada decreased their price target on shares of Gaming and Leisure Properties from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. JPMorgan Chase & Co. upgraded Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $49.00 to $54.00 in a report on Friday, December 13th. JMP Securities restated a “market outperform” rating and set a $55.00 price target on shares of Gaming and Leisure Properties in a research note on Wednesday, December 18th. Stifel Nicolaus raised their price objective on Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Wells Fargo & Company boosted their target price on Gaming and Leisure Properties from $50.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and a consensus target price of $53.96.

Gaming and Leisure Properties Trading Up 1.8 %

NASDAQ GLPI opened at $51.12 on Tuesday. The stock has a market cap of $14.05 billion, a P/E ratio of 17.81, a PEG ratio of 2.01 and a beta of 1.00. The company’s fifty day simple moving average is $49.23 and its 200-day simple moving average is $49.74. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. 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) last issued its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. The firm had revenue of $389.62 million for the quarter, compared to analyst estimates of $391.54 million. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. Equities research analysts predict 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 declared 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 dividend on an annualized basis and a yield of 5.95%. The ex-dividend date of this dividend is Friday, March 14th. Gaming and Leisure Properties’s dividend payout ratio is currently 105.92%.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, SVP Matthew Demchyk sold 1,138 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $50.45, for a total transaction of $57,412.10. Following the completion of the transaction, the senior vice president now directly owns 53,002 shares in the company, valued at approximately $2,673,950.90. This represents a 2.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director E Scott Urdang sold 5,000 shares of Gaming and Leisure Properties stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $49.72, for a total transaction of $248,600.00. Following the completion of the sale, the director now owns 145,953 shares of the company’s stock, valued at approximately $7,256,783.16. This trade represents a 3.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,064 shares of company stock worth $2,778,908 in the last 90 days. 4.37% of the stock is owned by corporate insiders.

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.