Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 5.2% during the 1st quarter, Holdings Channel reports. The fund owned 7,613,665 shares of the real estate investment trust’s stock after selling 417,549 shares during the period. Principal Financial Group Inc.’s holdings in Gaming and Leisure Properties were worth $387,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Alpine Bank Wealth Management acquired a new position in Gaming and Leisure Properties in the first quarter valued at approximately $26,000. Private Trust Co. NA purchased a new stake in shares of Gaming and Leisure Properties during the 1st quarter worth about $28,000. Quarry LP raised its holdings in Gaming and Leisure Properties by 52.5% in the 4th quarter. Quarry LP now owns 979 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 337 shares during the period. Bessemer Group Inc. increased its position in shares of Gaming and Leisure Properties by 149.8% in the fourth quarter. Bessemer Group Inc. now owns 1,029 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 617 shares in the last quarter. Finally, Grove Bank & Trust acquired a new stake in Gaming and Leisure Properties in the 1st quarter valued at $51,000. 91.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 4,000 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $46.58, for a total value of $186,320.00. Following the completion of the sale, the director directly owned 136,953 shares of the company’s stock, valued at approximately $6,379,270.74. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.26% of the company’s stock.

Gaming and Leisure Properties Price Performance

Gaming and Leisure Properties stock opened at $48.22 on Thursday. The company has a current ratio of 4.12, a quick ratio of 4.12 and a debt-to-equity ratio of 1.51. The company has a fifty day simple moving average of $46.81 and a 200-day simple moving average of $48.10. The stock has a market cap of $13.25 billion, a P/E ratio of 17.16, a price-to-earnings-growth ratio of 3.29 and a beta of 0.72. Gaming and Leisure Properties, Inc. has a 12-month low of $43.81 and a 12-month high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. The business had revenue of $395.24 million during the quarter, compared to analysts’ expectations of $396.27 million. Gaming and Leisure Properties had a return on equity of 17.02% and a net margin of 50.41%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 EPS. Equities analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

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

Analyst Ratings Changes

Several research firms recently weighed in on GLPI. Wedbush set a $55.00 price target on shares of Gaming and Leisure Properties in a research report on Monday, April 28th. Barclays upped their target price 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. Scotiabank reduced their price objective on Gaming and Leisure Properties from $49.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Monday, May 12th. Wells Fargo & Company cut their price objective on shares of Gaming and Leisure Properties from $51.00 to $49.00 and set an “equal weight” rating for the company in a research report on Monday, June 2nd. Finally, Mizuho decreased their price objective on Gaming and Leisure Properties from $53.00 to $48.00 and set a “neutral” rating on the stock in a report on Monday, June 16th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.