Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Stake Cut by KBC Group NV

KBC Group NV reduced its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 80.7% in the 1st quarter, Holdings Channel reports. The fund owned 50,005 shares of the real estate investment trust’s stock after selling 209,614 shares during the period. KBC Group NV’s holdings in Gaming and Leisure Properties were worth $2,545,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Dodge & Cox lifted its stake in Gaming and Leisure Properties by 75.3% in the fourth quarter. Dodge & Cox now owns 13,498,634 shares of the real estate investment trust’s stock valued at $650,094,000 after acquiring an additional 5,797,299 shares during the last quarter. Franklin Resources Inc. grew its position in Gaming and Leisure Properties by 4.7% in the fourth quarter. Franklin Resources Inc. now owns 12,830,944 shares of the real estate investment trust’s stock worth $617,938,000 after acquiring an additional 571,720 shares in the last quarter. Geode Capital Management LLC grew its position in Gaming and Leisure Properties by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 6,245,884 shares of the real estate investment trust’s stock worth $300,395,000 after acquiring an additional 165,024 shares in the last quarter. Norges Bank bought a new stake in Gaming and Leisure Properties in the fourth quarter worth approximately $176,123,000. Finally, Northern Trust Corp grew its position in Gaming and Leisure Properties by 48.2% in the fourth quarter. Northern Trust Corp now owns 2,873,006 shares of the real estate investment trust’s stock worth $138,364,000 after acquiring an additional 933,842 shares in the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director E Scott Urdang sold 4,000 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $46.58, for a total transaction of $186,320.00. Following the completion of the sale, the director owned 136,953 shares in the company, valued at $6,379,270.74. This trade represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 4.26% of the company’s stock.

Gaming and Leisure Properties Trading Down 0.0%

Shares of GLPI stock opened at $48.21 on Friday. Gaming and Leisure Properties, Inc. has a 52-week low of $43.81 and a 52-week high of $52.60. The stock has a market cap of $13.25 billion, a price-to-earnings ratio of 17.15, a P/E/G ratio of 3.34 and a beta of 0.72. The company has a debt-to-equity ratio of 1.51, a quick ratio of 4.12 and a current ratio of 4.12. The firm has a fifty day moving average of $46.79 and a 200-day moving average of $48.09.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.96. Gaming and Leisure Properties had a net margin of 50.41% and a return on equity of 17.02%. The company had revenue of $395.24 million during the quarter, compared to analysts’ expectations of $396.27 million. During the same quarter in the prior year, the company posted $0.92 EPS. The business’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $0.78 dividend. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.47%. Gaming and Leisure Properties’s dividend payout ratio is currently 111.03%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank Of Canada decreased their price objective on shares of Gaming and Leisure Properties from $56.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Mizuho decreased their price objective on shares of Gaming and Leisure Properties from $53.00 to $48.00 and set a “neutral” rating for the company in a report on Monday, June 16th. Macquarie reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Gaming and Leisure Properties in a report on Friday, April 25th. Barclays upped their price objective on shares of Gaming and Leisure Properties from $53.00 to $54.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 22nd. Finally, Scotiabank decreased their price objective on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set a “sector perform” rating for the company in a report on Monday, May 12th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and an average price target of $54.17.

About Gaming and Leisure Properties

Gaming & Leisure Properties, Inc engages in the provision of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.