Ninety One UK Ltd Sells 51,879 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Ninety One UK Ltd decreased its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,339,108 shares of the real estate investment trust’s stock after selling 51,879 shares during the period. Ninety One UK Ltd owned about 0.50% of Gaming and Leisure Properties worth $66,085,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GLPI. Cambridge Investment Research Advisors Inc. lifted its holdings in Gaming and Leisure Properties by 23.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,197 shares of the real estate investment trust’s stock valued at $760,000 after buying an additional 3,049 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Gaming and Leisure Properties by 46.2% during the first quarter. Bank of Montreal Can now owns 123,317 shares of the real estate investment trust’s stock valued at $5,837,000 after acquiring an additional 38,942 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Gaming and Leisure Properties in the first quarter valued at approximately $219,000. Great West Life Assurance Co. Can increased its holdings in Gaming and Leisure Properties by 41.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 21,974 shares of the real estate investment trust’s stock worth $1,086,000 after purchasing an additional 6,399 shares during the period. Finally, Yousif Capital Management LLC raised its position in Gaming and Leisure Properties by 22.2% during the 1st quarter. Yousif Capital Management LLC now owns 14,425 shares of the real estate investment trust’s stock valued at $677,000 after purchasing an additional 2,620 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GLPI. Royal Bank of Canada cut their price target on Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Morgan Stanley reduced their price objective on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st. StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Mizuho cut their target price on Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, March 7th. Finally, JMP Securities reissued a “market outperform” rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Gaming and Leisure Properties has an average rating of “Moderate Buy” and an average target price of $52.09.

Insider Buying and Selling

In other Gaming and Leisure Properties news, Director E Scott Urdang purchased 2,500 shares of Gaming and Leisure Properties stock in a transaction on Friday, March 1st. The stock was bought at an average cost of $45.00 per share, with a total value of $112,500.00. Following the transaction, the director now owns 156,685 shares of the company’s stock, valued at approximately $7,050,825. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ GLPI traded up $0.17 during midday trading on Thursday, reaching $42.20. The company had a trading volume of 466,891 shares, compared to its average volume of 1,421,382. Gaming and Leisure Properties, Inc. has a 1 year low of $41.80 and a 1 year high of $52.45. The business’s 50-day simple moving average is $45.15 and its 200 day simple moving average is $46.00. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.48. The stock has a market cap of $11.46 billion, a P/E ratio of 15.17, a P/E/G ratio of 5.26 and a beta of 0.94.

Gaming and Leisure Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 7.20%. The ex-dividend date was Thursday, March 14th. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. Gaming and Leisure Properties’s payout ratio is presently 109.75%.

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.