National Bank of Canada FI Sells 199,949 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

National Bank of Canada FI reduced its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 99.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,109 shares of the real estate investment trust’s stock after selling 199,949 shares during the quarter. National Bank of Canada FI’s holdings in Gaming and Leisure Properties were worth $57,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in GLPI. State Street Corp boosted its holdings in Gaming and Leisure Properties by 1.4% in the third 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Gaming and Leisure Properties by 6.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,534,033 shares of the real estate investment trust’s stock worth $284,726,000 after purchasing an additional 341,492 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Gaming and Leisure Properties by 9.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,104,552 shares of the real estate investment trust’s stock valued at $185,564,000 after purchasing an additional 350,250 shares during the last quarter. Jennison Associates LLC increased its stake in Gaming and Leisure Properties by 25.3% during the 3rd quarter. Jennison Associates LLC now owns 4,075,461 shares of the real estate investment trust’s stock valued at $209,682,000 after purchasing an additional 821,634 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Gaming and Leisure Properties by 3.0% in 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 buying an additional 96,028 shares during the last quarter. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Insiders Place Their Bets

In other news, Director E Scott Urdang sold 3,000 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $50.39, for a total value of $151,170.00. Following the completion of the sale, the director now directly owns 146,800 shares of the company’s stock, valued at $7,397,252. This represents a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.37% of the stock is owned by company insiders.

Gaming and Leisure Properties Trading Down 1.6 %

Shares of GLPI stock opened at $48.99 on Wednesday. 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 company has a market cap of $13.44 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 2.10 and a beta of 0.98. Gaming and Leisure Properties, Inc. has a 1 year low of $41.80 and a 1 year high of $52.60. The firm has a fifty day moving average price of $50.46 and a 200-day moving average price of $49.11.

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

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date of this dividend is Friday, December 6th. Gaming and Leisure Properties’s payout ratio is 106.29%.

Wall Street Analyst Weigh In

GLPI has been the topic of a number of recent analyst reports. StockNews.com cut shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Wolfe Research upgraded Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price target for the company in a research note on Friday, August 23rd. Raymond James increased their price objective on Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Barclays initiated coverage on Gaming and Leisure Properties in a research report on Tuesday. They issued an “equal weight” rating and a $54.53 target price for the company. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $55.00 price target on shares of Gaming and Leisure Properties in a report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Gaming and Leisure Properties 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.