Allworth Financial LP Decreases Stock Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Allworth Financial LP reduced its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 3.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 10,707 shares of the real estate investment trust’s stock after selling 365 shares during the period. Allworth Financial LP’s holdings in Gaming and Leisure Properties were worth $528,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Gaming and Leisure Properties in the fourth quarter valued at $129,106,000. Bank of New York Mellon Corp lifted its position in Gaming and Leisure Properties by 78.5% in the third quarter. Bank of New York Mellon Corp now owns 2,906,793 shares of the real estate investment trust’s stock valued at $132,404,000 after acquiring an additional 1,278,566 shares during the last quarter. Wellington Management Group LLP lifted its position in Gaming and Leisure Properties by 13.6% in the first quarter. Wellington Management Group LLP now owns 10,515,906 shares of the real estate investment trust’s stock valued at $493,511,000 after acquiring an additional 1,255,222 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Gaming and Leisure Properties by 811.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,349,554 shares of the real estate investment trust’s stock valued at $70,260,000 after acquiring an additional 1,201,444 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Gaming and Leisure Properties by 3.6% in the first quarter. Vanguard Group Inc. now owns 34,218,955 shares of the real estate investment trust’s stock valued at $1,605,894,000 after acquiring an additional 1,199,697 shares during the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Trading Up 1.2 %

Shares of Gaming and Leisure Properties stock opened at $45.99 on Wednesday. Gaming and Leisure Properties, Inc. has a 52-week low of $43.54 and a 52-week high of $52.45. The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 1.48. The company’s 50-day simple moving average is $45.47 and its 200-day simple moving average is $46.12. The firm has a market cap of $12.49 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 5.64 and a beta of 0.94.

Gaming and Leisure Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.61%. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Thursday, March 14th. Gaming and Leisure Properties’s payout ratio is 109.75%.

Insider Transactions at Gaming and Leisure Properties

In other news, Director E Scott Urdang purchased 2,500 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were acquired at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the completion of the purchase, the director now directly owns 156,685 shares in the company, valued at approximately $7,050,825. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GLPI. Mizuho reduced their price target on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, March 7th. Morgan Stanley dropped their price objective on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Thursday, March 21st. JPMorgan Chase & Co. lowered shares of Gaming and Leisure Properties from an “overweight” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a research note on Thursday, December 14th. Royal Bank of Canada dropped their price objective on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Finally, JMP Securities restated a “market outperform” rating and issued a $53.00 price objective on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Gaming and Leisure Properties has a consensus rating of “Moderate Buy” and an average target price of $52.09.

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.