Gaming and Leisure Properties, Inc. $GLPI is Presima Securities ULC’s 4th Largest Position

Presima Securities ULC lessened its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 18.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 507,534 shares of the real estate investment trust’s stock after selling 117,733 shares during the period. Gaming and Leisure Properties comprises about 6.5% of Presima Securities ULC’s investment portfolio, making the stock its 4th biggest holding. Presima Securities ULC’s holdings in Gaming and Leisure Properties were worth $23,656,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in GLPI. Spire Wealth Management increased its holdings in shares of Gaming and Leisure Properties by 62.3% in the 3rd quarter. Spire Wealth Management now owns 620 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 238 shares in the last quarter. Freedom Investment Management Inc. boosted its position in shares of Gaming and Leisure Properties by 4.6% during the second quarter. Freedom Investment Management Inc. now owns 5,977 shares of the real estate investment trust’s stock valued at $279,000 after buying an additional 261 shares during the last quarter. Whittier Trust Co. increased its holdings in Gaming and Leisure Properties by 18.4% in the 2nd quarter. Whittier Trust Co. now owns 1,708 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 265 shares in the last quarter. Securian Asset Management Inc. raised its position in Gaming and Leisure Properties by 1.3% in the 3rd quarter. Securian Asset Management Inc. now owns 21,195 shares of the real estate investment trust’s stock worth $988,000 after buying an additional 265 shares during the last quarter. Finally, Apella Capital LLC raised its position in Gaming and Leisure Properties by 4.8% in the 3rd quarter. Apella Capital LLC now owns 5,904 shares of the real estate investment trust’s stock worth $263,000 after buying an additional 273 shares during the last quarter. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Gaming and Leisure Properties

In other news, SVP Steven Ladany sold 18,000 shares of the stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $44.77, for a total value of $805,860.00. Following the sale, the senior vice president directly owned 65,099 shares in the company, valued at approximately $2,914,482.23. This represents a 21.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 36,864 shares of company stock worth $1,650,906 over the last quarter. Corporate insiders own 4.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on GLPI. Morgan Stanley increased their price target on Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 24th. Stifel Nicolaus set a $48.50 price objective on Gaming and Leisure Properties in a research report on Thursday, February 12th. Barclays lifted their price objective on Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Cantor Fitzgerald cut their target price on shares of Gaming and Leisure Properties from $51.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Finally, Mizuho set a $50.00 price target on shares of Gaming and Leisure Properties and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.86.

Gaming and Leisure Properties Trading Down 1.2%

Shares of GLPI opened at $46.71 on Thursday. The company’s fifty day simple moving average is $45.15 and its 200-day simple moving average is $45.42. The company has a market cap of $13.22 billion, a P/E ratio of 16.92, a P/E/G ratio of 2.61 and a beta of 0.67. The company has a current ratio of 13.23, a quick ratio of 13.23 and a debt-to-equity ratio of 1.47. Gaming and Leisure Properties, Inc. has a twelve month low of $41.17 and a twelve month high of $52.24.

Gaming and Leisure Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 6.7%. The ex-dividend date was Friday, December 5th. Gaming and Leisure Properties’s payout ratio is 113.04%.

About Gaming and Leisure Properties

Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.

The company’s core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.