Daiwa Securities Group Inc. Sells 2,627 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Daiwa Securities Group Inc. decreased its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2.5% during the fourth quarter, HoldingsChannel reports. The firm owned 101,365 shares of the real estate investment trust’s stock after selling 2,627 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Gaming and Leisure Properties were worth $5,002,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of GLPI. GraniteShares Advisors LLC purchased a new stake in Gaming and Leisure Properties in the fourth quarter worth about $1,473,000. Cornercap Investment Counsel Inc. lifted its stake in shares of Gaming and Leisure Properties by 97.5% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 21,443 shares of the real estate investment trust’s stock valued at $1,058,000 after purchasing an additional 10,588 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Gaming and Leisure Properties by 5.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,780,127 shares of the real estate investment trust’s stock valued at $87,849,000 after purchasing an additional 88,811 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in Gaming and Leisure Properties in the fourth quarter worth $3,701,000. Finally, Cerity Partners LLC raised its holdings in Gaming and Leisure Properties by 60.1% in the fourth quarter. Cerity Partners LLC now owns 7,882 shares of the real estate investment trust’s stock worth $389,000 after purchasing an additional 2,959 shares in the last quarter. Institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Performance

GLPI stock opened at $42.80 on Friday. The stock has a market capitalization of $11.62 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 5.29 and a beta of 0.94. The stock’s 50 day simple moving average is $45.03 and its 200 day simple moving average is $45.96. Gaming and Leisure Properties, Inc. has a 12-month low of $41.80 and a 12-month high of $52.45. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.48.

Gaming and Leisure Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.76 per share. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 dividend on an annualized basis and a dividend yield of 7.10%. The ex-dividend date of this dividend was Thursday, March 14th. Gaming and Leisure Properties’s dividend payout ratio is presently 109.75%.

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang bought 2,500 shares of the stock in a transaction on Friday, March 1st. The shares were acquired at an average price of $45.00 per share, for a total transaction of $112,500.00. Following the purchase, the director now owns 156,685 shares of the company’s stock, valued at $7,050,825. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.