63,638 Shares in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Acquired by Prudential PLC

Prudential PLC purchased a new position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 63,638 shares of the real estate investment trust’s stock, valued at approximately $2,877,000.

Other large investors have also made changes to their positions in the company. Wellington Management Group LLP increased its stake in Gaming and Leisure Properties by 40.8% during the 4th quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust’s stock valued at $627,204,000 after purchasing an additional 3,684,553 shares in the last quarter. Norges Bank purchased a new position in Gaming and Leisure Properties in the 4th quarter worth $141,537,000. Price T Rowe Associates Inc. MD lifted its position in Gaming and Leisure Properties by 36.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,910,169 shares of the real estate investment trust’s stock worth $134,074,000 after acquiring an additional 781,906 shares during the period. Putnam Investments LLC increased its holdings in shares of Gaming and Leisure Properties by 3.1% in the fourth quarter. Putnam Investments LLC now owns 9,511,521 shares of the real estate investment trust’s stock valued at $469,394,000 after purchasing an additional 282,828 shares during the period. Finally, National Bank of Canada FI increased its holdings in shares of Gaming and Leisure Properties by 126.3% in the first quarter. National Bank of Canada FI now owns 454,732 shares of the real estate investment trust’s stock valued at $20,131,000 after purchasing an additional 253,763 shares during the period. 91.14% of the stock is owned by institutional investors and hedge funds.

Gaming and Leisure Properties Stock Down 0.2 %

Shares of NASDAQ GLPI opened at $52.23 on Thursday. Gaming and Leisure Properties, Inc. has a 52-week low of $41.80 and a 52-week high of $52.60. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.49. The company’s 50-day simple moving average is $49.38 and its 200-day simple moving average is $46.23. The firm has a market cap of $14.18 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 5.39 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The firm had revenue of $380.60 million for the quarter, compared to analyst estimates of $377.95 million. During the same period in the previous year, the company earned $0.92 EPS. Gaming and Leisure Properties’s revenue was up 6.7% compared to the same quarter last year. Equities analysts predict that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date of this dividend is Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 112.18%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. Raymond James increased their price objective on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Morgan Stanley reissued an “overweight” rating and set a $53.00 target price on shares of Gaming and Leisure Properties in a report on Friday, June 21st. UBS Group upped their price target on shares of Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Wedbush reiterated an “outperform” rating and set a $51.00 price objective on shares of Gaming and Leisure Properties in a research note on Friday, May 17th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and an average target price of $52.11.

Insider Transactions at Gaming and Leisure Properties

In related news, CFO Desiree A. Burke sold 12,973 shares of the company’s 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 sale, the chief financial officer now owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Desiree A. Burke sold 12,973 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 108,073 shares in the company, valued at $5,621,957.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director E Scott Urdang sold 5,605 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $48.89, for a total value of $274,028.45. Following the completion of the sale, the director now directly owns 156,685 shares of the company’s stock, valued at approximately $7,660,329.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,478 shares of company stock valued at $2,495,429. Corporate insiders own 4.40% of the company’s stock.

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.