Victory Capital Management Inc. Sells 14,129 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Victory Capital Management Inc. reduced its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPIGet Rating) by 3.7% in the first quarter, Holdings Channel reports. The fund owned 362,810 shares of the real estate investment trust’s stock after selling 14,129 shares during the quarter. Victory Capital Management Inc.’s holdings in Gaming and Leisure Properties were worth $16,783,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GLPI. National Bank of Canada FI bought a new position in shares of Gaming and Leisure Properties during the 4th quarter valued at approximately $34,000. Janney Montgomery Scott LLC boosted its position in shares of Gaming and Leisure Properties by 6.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 31,933 shares of the real estate investment trust’s stock valued at $1,554,000 after acquiring an additional 1,997 shares during the last quarter. National Asset Management Inc. bought a new stake in Gaming and Leisure Properties in the fourth quarter worth $313,000. Allspring Global Investments Holdings LLC bought a new stake in Gaming and Leisure Properties in the fourth quarter worth $10,208,000. Finally, Yousif Capital Management LLC bought a new stake in Gaming and Leisure Properties in the fourth quarter worth $574,000. 91.36% of the stock is currently owned by institutional investors.

Insider Activity

In other Gaming and Leisure Properties news, EVP Brandon John Moore sold 3,000 shares of Gaming and Leisure Properties stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $52.00, for a total value of $156,000.00. Following the transaction, the executive vice president now owns 185,993 shares in the company, valued at $9,671,636. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.60% of the company’s stock.

Gaming and Leisure Properties Stock Performance

Shares of Gaming and Leisure Properties stock opened at $50.68 on Friday. The firm has a market cap of $12.95 billion, a P/E ratio of 22.83, a P/E/G ratio of 2.99 and a beta of 1.00. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.91. Gaming and Leisure Properties, Inc. has a 12 month low of $41.81 and a 12 month high of $52.67. The stock’s fifty day moving average price is $47.87 and its 200-day moving average price is $46.02.

Gaming and Leisure Properties (NASDAQ:GLPIGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $0.62 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.27). The firm had revenue of $326.40 million for the quarter, compared to analysts’ expectations of $325.40 million. Gaming and Leisure Properties had a net margin of 43.54% and a return on equity of 16.30%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.87 EPS. On average, equities research analysts expect that Gaming and Leisure Properties, Inc. will post 3.48 earnings per share for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Friday, June 10th were paid a dividend of $0.705 per share. The ex-dividend date was Thursday, June 9th. This represents a $2.82 annualized dividend and a dividend yield of 5.56%. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.69. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 127.03%.

Analysts Set New Price Targets

A number of analysts recently issued reports on GLPI shares. Mizuho raised their price target on Gaming and Leisure Properties from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, June 30th. Truist Financial raised their price target on Gaming and Leisure Properties from $51.00 to $54.00 and gave the stock a “hold” rating in a research report on Wednesday, July 20th. Deutsche Bank Aktiengesellschaft raised their price target on Gaming and Leisure Properties from $57.00 to $62.00 in a research report on Monday, August 1st. UBS Group lowered their price target on Gaming and Leisure Properties to $55.00 in a research report on Thursday, June 9th. Finally, Morgan Stanley increased their target price on Gaming and Leisure Properties from $53.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.89.

About Gaming and Leisure Properties

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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.

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Institutional Ownership by Quarter for Gaming and Leisure Properties (NASDAQ:GLPI)

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