Sumitomo Mitsui Trust Group Inc. Sells 28,473 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 1.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,695,993 shares of the real estate investment trust’s stock after selling 28,473 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.62% of Gaming and Leisure Properties worth $87,259,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GLPI. Assetmark Inc. grew its stake in Gaming and Leisure Properties by 2,547.6% in the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 535 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Gaming and Leisure Properties in the 2nd quarter worth about $31,000. EdgeRock Capital LLC bought a new position in Gaming and Leisure Properties during the second quarter valued at about $33,000. Versant Capital Management Inc increased its holdings in Gaming and Leisure Properties by 18,500.0% during the second quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 740 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Gaming and Leisure Properties by 142.2% in the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 384 shares during the period. 91.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GLPI shares. JMP Securities reissued a “market outperform” rating and set a $55.00 target price on shares of Gaming and Leisure Properties in a research report on Tuesday, October 29th. Mizuho decreased their target price on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday. Wolfe Research raised Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research report on Friday, August 23rd. Raymond James lifted their price objective on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a report on Monday, July 29th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.54.

Insider Transactions at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, COO Brandon John Moore sold 30,900 shares of Gaming and Leisure Properties stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the completion of the sale, the chief operating officer now owns 208,977 shares of the company’s stock, valued at $10,459,298.85. The trade was a 12.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Desiree A. Burke sold 12,973 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was 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. The trade was a 10.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,758 shares of company stock valued at $2,717,922. 4.37% of the stock is owned by corporate insiders.

Gaming and Leisure Properties Stock Performance

NASDAQ GLPI opened at $48.72 on Friday. The company’s 50 day simple moving average is $50.78 and its two-hundred day simple moving average is $48.11. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35. Gaming and Leisure Properties, Inc. has a 1 year low of $41.80 and a 1 year high of $52.60. The stock has a market capitalization of $13.37 billion, a PE ratio of 17.04, a P/E/G ratio of 2.12 and a beta of 0.99.

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

Gaming and Leisure Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 6.24%. The ex-dividend date was Friday, September 13th. Gaming and Leisure Properties’s payout ratio is 106.29%.

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.