Ontario Teachers Pension Plan Board Sells 74,167 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Ontario Teachers Pension Plan Board trimmed its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 83.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,132 shares of the real estate investment trust’s stock after selling 74,167 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Gaming and Leisure Properties were worth $779,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in Gaming and Leisure Properties by 6.6% in the third 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 buying 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 worth $185,564,000 after purchasing an additional 350,250 shares during the period. Jennison Associates LLC raised its position in Gaming and Leisure Properties by 25.3% during the third quarter. Jennison Associates LLC now owns 4,075,461 shares of the real estate investment trust’s stock valued at $209,682,000 after acquiring an additional 821,634 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Gaming and Leisure Properties by 36.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,910,169 shares of the real estate investment trust’s stock valued at $134,074,000 after acquiring an additional 781,906 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Gaming and Leisure Properties by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,761,119 shares of the real estate investment trust’s stock valued at $124,830,000 after buying an additional 35,311 shares in the last quarter. Institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Up 0.2 %

GLPI opened at $50.65 on Friday. The stock has a market cap of $13.90 billion, a P/E ratio of 17.71, a P/E/G ratio of 2.16 and a beta of 0.99. 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’s 50 day moving average price is $50.58 and its 200 day moving average price is $48.35. Gaming and Leisure Properties, Inc. has a 12 month low of $41.80 and a 12 month high of $52.60.

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

Gaming and Leisure Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date was Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 106.29%.

Insider Buying and Selling at Gaming and Leisure Properties

In related news, CFO Desiree A. Burke sold 12,973 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $52.02, for a total value of $674,855.46. Following the completion of the transaction, the chief financial officer now owns 108,073 shares of the company’s stock, valued at $5,621,957.46. This represents a 10.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director E Scott Urdang sold 3,000 shares of Gaming and Leisure Properties 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 transaction, the director now directly owns 146,800 shares of the company’s stock, valued at approximately $7,397,252. The trade was a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,858 shares of company stock worth $1,171,377 over the last ninety days. 4.37% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GLPI has been the subject of a number of recent research reports. StockNews.com cut shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Mizuho lowered their target price on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $52.00 price objective (up previously from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and raised their price target for the company from $49.00 to $54.00 in a research report on Wednesday. Finally, Wolfe Research raised Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research report on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.96.

Gaming and Leisure Properties Company 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.