Highland Capital Management LLC Decreases Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Highland Capital Management LLC lowered its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,010 shares of the real estate investment trust’s stock after selling 1,530 shares during the quarter. Highland Capital Management LLC’s holdings in Gaming and Leisure Properties were worth $3,661,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in GLPI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Gaming and Leisure Properties by 647.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,025,526 shares of the real estate investment trust’s stock valued at $104,213,000 after acquiring an additional 1,754,370 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Gaming and Leisure Properties by 7.8% during the 3rd quarter. Franklin Resources Inc. now owns 12,259,224 shares of the real estate investment trust’s stock valued at $641,059,000 after acquiring an additional 889,698 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Gaming and Leisure Properties by 25.3% during the 3rd 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 during the last quarter. Janus Henderson Group PLC boosted its position in shares of Gaming and Leisure Properties by 6,162.9% during the 3rd quarter. Janus Henderson Group PLC now owns 812,981 shares of the real estate investment trust’s stock valued at $41,820,000 after acquiring an additional 800,000 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Gaming and Leisure Properties during the 3rd quarter valued at about $27,057,000. Institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Price Performance

Shares of GLPI stock opened at $48.04 on Thursday. The stock has a market cap of $13.18 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.96 and a beta of 0.99. The business’s fifty day moving average is $48.80 and its 200 day moving average is $49.80. Gaming and Leisure Properties, Inc. has a twelve month low of $41.80 and a twelve month high of $52.60. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62.

Gaming and Leisure Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.76 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.04 annualized dividend and a yield of 6.33%. Gaming and Leisure Properties’s payout ratio is 106.29%.

Insider Buying and Selling

In related news, Director E Scott Urdang sold 3,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $50.39, for a total transaction of $151,170.00. Following the sale, the director now directly owns 146,800 shares of the company’s stock, valued at $7,397,252. This trade represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Brandon John Moore sold 3,982 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $47.84, for a total value of $190,498.88. Following the sale, the chief operating officer now directly owns 278,634 shares in the company, valued at $13,329,850.56. This trade represents a 1.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,222 shares of company stock valued at $1,776,117 over the last ninety days. Company insiders own 4.37% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on GLPI shares. StockNews.com downgraded Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Mizuho dropped 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, November 14th. Stifel Nicolaus boosted their target price on Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Barclays started coverage on Gaming and Leisure Properties in a research report on Tuesday, December 17th. They issued an “equal weight” rating and a $54.53 target price for the company. Finally, Scotiabank dropped their target price on Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.93.

About Gaming and Leisure Properties

Gaming & Leisure Properties, Inc engages in 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.