The Manufacturers Life Insurance Company Reduces Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

The Manufacturers Life Insurance Company reduced its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 270,776 shares of the real estate investment trust’s stock after selling 2,763 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.10% of Gaming and Leisure Properties worth $13,931,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Assetmark Inc. lifted its holdings in Gaming and Leisure Properties by 2,547.6% in the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 535 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Gaming and Leisure Properties during the second quarter valued at approximately $31,000. EdgeRock Capital LLC acquired a new stake in Gaming and Leisure Properties during the second quarter worth approximately $33,000. Versant Capital Management Inc boosted its position in Gaming and Leisure Properties by 18,500.0% during the second quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 740 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Gaming and Leisure Properties by 142.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 384 shares during the period. Institutional investors and hedge funds own 91.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GLPI shares. 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. Raymond James lifted their price target on Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Wolfe Research upgraded shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a report on Friday, August 23rd. JMP Securities restated a “market outperform” rating and issued a $55.00 target price on shares of Gaming and Leisure Properties in a report on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and upped their price target for the stock from $49.00 to $54.00 in a research report on Wednesday, November 20th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Gaming and Leisure Properties has a consensus rating of “Moderate Buy” and a consensus price target of $53.32.

Gaming and Leisure Properties Trading Down 0.1 %

Shares of GLPI opened at $51.61 on Monday. Gaming and Leisure Properties, Inc. has a 12 month low of $41.80 and a 12 month high of $52.60. The stock’s 50-day moving average is $50.59 and its two-hundred day moving average is $48.68. 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 cap of $14.16 billion, a PE ratio of 18.05, a P/E/G ratio of 2.19 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.25). Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The company had revenue of $385.34 million for the quarter, compared to analyst estimates of $385.09 million. During the same period last year, the firm posted $0.92 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. Equities analysts forecast that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date is Friday, December 6th. Gaming and Leisure Properties’s payout ratio is 106.29%.

Insider Buying and Selling

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $50.39, for a total transaction of $151,170.00. Following the completion of the sale, the director now owns 146,800 shares in the company, valued at $7,397,252. This trade represents a 2.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.37% of the stock is currently owned by insiders.

About Gaming and Leisure Properties

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.