Forsta AP Fonden Sells 10,200 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Forsta AP Fonden cut its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 9.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,600 shares of the real estate investment trust’s stock after selling 10,200 shares during the quarter. Forsta AP Fonden’s holdings in Gaming and Leisure Properties were worth $4,816,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Gaming and Leisure Properties by 31.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,807 shares of the real estate investment trust’s stock valued at $599,000 after purchasing an additional 2,838 shares during the last quarter. Outlook Wealth Advisors LLC grew its holdings in shares of Gaming and Leisure Properties by 5.4% during the 3rd quarter. Outlook Wealth Advisors LLC now owns 7,643 shares of the real estate investment trust’s stock valued at $393,000 after purchasing an additional 394 shares during the last quarter. Impact Partnership Wealth LLC bought a new stake in shares of Gaming and Leisure Properties during the 3rd quarter valued at approximately $462,000. International Assets Investment Management LLC grew its holdings in shares of Gaming and Leisure Properties by 5,015.8% during the 3rd quarter. International Assets Investment Management LLC now owns 53,511 shares of the real estate investment trust’s stock valued at $2,753,000 after purchasing an additional 52,465 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new stake in Gaming and Leisure Properties during the 3rd quarter worth approximately $1,017,000. 91.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GLPI. JMP Securities boosted their target price on shares of Gaming and Leisure Properties from $53.00 to $55.00 and gave the stock a “market outperform” rating in a report on Monday, August 12th. Stifel Nicolaus boosted their target price on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a “buy” rating in a report on Friday, July 26th. Wells Fargo & Company reissued an “equal weight” rating and set a $52.00 target price (up from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. UBS Group boosted their price target on shares of Gaming and Leisure Properties from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Scotiabank boosted their price target on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 16th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.18.

Insider Transactions at Gaming and Leisure Properties

In other news, CFO Desiree A. Burke sold 12,973 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $52.02, for a total value of $674,855.46. Following the completion of the sale, the chief financial officer now owns 108,073 shares in the company, valued at $5,621,957.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Desiree A. Burke sold 12,973 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $52.02, for a total transaction of $674,855.46. Following the completion of the transaction, the chief financial officer now owns 108,073 shares in the company, valued at approximately $5,621,957.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brandon John Moore sold 30,900 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the transaction, the chief operating officer now owns 208,977 shares of the company’s stock, valued at approximately $10,459,298.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,478 shares of company stock worth $2,495,429 in the last quarter. 4.40% of the stock is currently owned by corporate insiders.

Gaming and Leisure Properties Stock Performance

GLPI opened at $50.49 on Tuesday. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49. The company’s fifty day moving average price is $51.11 and its two-hundred day moving average price is $47.54. Gaming and Leisure Properties, Inc. has a 1-year low of $41.80 and a 1-year high of $52.60. The company has a market cap of $13.71 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 5.82 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.25). Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The business had revenue of $385.34 million for the quarter, compared to analyst estimates of $385.09 million. During the same quarter in the previous year, the company posted $0.92 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts expect that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.76 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.04 annualized dividend and a dividend yield of 6.02%. Gaming and Leisure Properties’s payout ratio is 112.18%.

Gaming and Leisure Properties 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.