Allstate Corp Sells 11,869 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Allstate Corp lessened its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 13.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,384 shares of the real estate investment trust’s stock after selling 11,869 shares during the quarter. Allstate Corp’s holdings in Gaming and Leisure Properties were worth $3,582,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. DnB Asset Management AS raised its stake in shares of Gaming and Leisure Properties by 6.0% during the fourth quarter. DnB Asset Management AS now owns 49,897 shares of the real estate investment trust’s stock valued at $2,403,000 after acquiring an additional 2,823 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in Gaming and Leisure Properties by 2.7% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 440,586 shares of the real estate investment trust’s stock valued at $21,219,000 after purchasing an additional 11,730 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its holdings in shares of Gaming and Leisure Properties by 16.1% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 838,720 shares of the real estate investment trust’s stock worth $40,393,000 after buying an additional 116,600 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of Gaming and Leisure Properties during the 4th quarter worth $4,864,000. Finally, Norges Bank bought a new position in shares of Gaming and Leisure Properties during the 4th quarter worth $176,123,000. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Insider Transactions at Gaming and Leisure Properties

In related news, COO Brandon John Moore sold 3,982 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $47.84, for a total transaction of $190,498.88. Following the completion of the transaction, the chief operating officer now owns 278,634 shares of the company’s stock, valued at $13,329,850.56. This trade represents a 1.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director E Scott Urdang sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $49.72, for a total transaction of $248,600.00. Following the completion of the sale, the director now directly owns 145,953 shares in the company, valued at approximately $7,256,783.16. The trade was a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,064 shares of company stock worth $2,778,908 over the last three months. 4.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

GLPI has been the subject of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $55.00 price objective on shares of Gaming and Leisure Properties in a research note on Wednesday, December 18th. Barclays lowered their price target on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 4th. Royal Bank of Canada cut their price objective on shares of Gaming and Leisure Properties from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. JPMorgan Chase & Co. upgraded Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $49.00 to $54.00 in a report on Friday, December 13th. Finally, Morgan Stanley downgraded Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price target on the stock. in a report on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.96.

Gaming and Leisure Properties Price Performance

Shares of GLPI stock opened at $50.40 on Friday. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.80 and a fifty-two week high of $52.60. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. The firm has a market capitalization of $13.85 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 2.01 and a beta of 1.00. The stock’s 50-day simple moving average is $49.49 and its 200-day simple moving average is $49.73.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. The business had revenue of $389.62 million for the quarter, compared to analyst estimates of $391.54 million. As a group, equities analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.03%. The ex-dividend date of this dividend was Friday, March 14th. Gaming and Leisure Properties’s dividend payout ratio is presently 105.92%.

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.