Martingale Asset Management L P reduced its position in shares of Gaming and Leisure Properties Inc (NASDAQ:GLPI) by 13.6% in the 1st quarter, HoldingsChannel reports. The firm owned 388,369 shares of the real estate investment trust’s stock after selling 61,017 shares during the period. Martingale Asset Management L P’s holdings in Gaming and Leisure Properties were worth $14,980,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GLPI. Parallel Advisors LLC raised its position in Gaming and Leisure Properties by 50.6% during the fourth quarter. Parallel Advisors LLC now owns 905 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 304 shares in the last quarter. We Are One Seven LLC acquired a new position in Gaming and Leisure Properties during the fourth quarter valued at approximately $31,000. Quadrant Capital Group LLC raised its position in Gaming and Leisure Properties by 39.9% during the first quarter. Quadrant Capital Group LLC now owns 988 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 282 shares in the last quarter. Ffcm LLC raised its position in Gaming and Leisure Properties by 72.4% during the fourth quarter. Ffcm LLC now owns 1,141 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 479 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in Gaming and Leisure Properties by 43.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,434 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 434 shares in the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.

Several brokerages have recently issued reports on GLPI. BidaskClub downgraded shares of Gaming and Leisure Properties from a “strong-buy” rating to a “buy” rating in a report on Friday, May 17th. Deutsche Bank reiterated a “buy” rating and set a $47.00 price target on shares of Gaming and Leisure Properties in a report on Sunday, May 12th. Zacks Investment Research downgraded shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Stifel Nicolaus upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and upped their price target for the stock from $39.00 to $43.00 in a report on Monday, April 15th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $41.00 price target on shares of Gaming and Leisure Properties in a report on Wednesday, March 20th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $41.70.

In related news, SVP Matthew Demchyk acquired 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The stock was acquired at an average cost of $36.50 per share, for a total transaction of $146,000.00. Following the completion of the acquisition, the senior vice president now directly owns 37,500 shares of the company’s stock, valued at approximately $1,368,750. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Desiree A. Burke sold 41,458 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $39.06, for a total value of $1,619,349.48. Following the completion of the sale, the chief accounting officer now owns 119,264 shares of the company’s stock, valued at $4,658,451.84. The disclosure for this sale can be found here. 5.88% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:GLPI opened at $40.01 on Friday. The firm has a market cap of $8.59 billion, a PE ratio of 12.58, a P/E/G ratio of 0.94 and a beta of 0.56. The company has a debt-to-equity ratio of 2.72, a current ratio of 2.99 and a quick ratio of 2.99. Gaming and Leisure Properties Inc has a 52-week low of $31.19 and a 52-week high of $40.69.

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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.

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Institutional Ownership by Quarter for Gaming and Leisure Properties (NASDAQ:GLPI)

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