Oppenheimer Asset Management Inc. Lowers Stock Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Oppenheimer Asset Management Inc. lowered its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPIFree Report) by 8.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,915 shares of the real estate investment trust’s stock after selling 606 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Gaming and Leisure Properties were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in Gaming and Leisure Properties by 21.0% in the third quarter. Barclays PLC now owns 309,854 shares of the real estate investment trust’s stock valued at $14,113,000 after buying an additional 53,731 shares during the last quarter. Fort Pitt Capital Group LLC lifted its stake in Gaming and Leisure Properties by 3.8% in the third quarter. Fort Pitt Capital Group LLC now owns 1,163,021 shares of the real estate investment trust’s stock valued at $52,976,000 after buying an additional 42,394 shares during the last quarter. abrdn plc lifted its stake in Gaming and Leisure Properties by 15.3% in the third quarter. abrdn plc now owns 1,542,239 shares of the real estate investment trust’s stock valued at $70,249,000 after buying an additional 204,394 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in Gaming and Leisure Properties by 6.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 272,132 shares of the real estate investment trust’s stock valued at $12,396,000 after buying an additional 16,412 shares during the last quarter. Finally, Donoghue Forlines LLC lifted its stake in Gaming and Leisure Properties by 22.8% in the third quarter. Donoghue Forlines LLC now owns 11,072 shares of the real estate investment trust’s stock valued at $504,000 after buying an additional 2,057 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on GLPI shares. JMP Securities reaffirmed a “market outperform” rating and set a $53.00 price objective on shares of Gaming and Leisure Properties in a research note on Thursday. JPMorgan Chase & Co. downgraded Gaming and Leisure Properties from an “overweight” rating to a “neutral” rating and set a $48.00 price objective for the company. in a research note on Thursday, December 14th. The Goldman Sachs Group started coverage on Gaming and Leisure Properties in a research note on Friday, December 8th. They set a “neutral” rating and a $51.00 price objective for the company. Royal Bank of Canada reduced their price objective on Gaming and Leisure Properties from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, October 30th. Finally, Mizuho increased their price target on shares of Gaming and Leisure Properties from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.73.

View Our Latest Stock Report on GLPI

Insider Activity

In related news, CFO Desiree A. Burke sold 1,600 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $49.31, for a total value of $78,896.00. Following the sale, the chief financial officer now directly owns 147,710 shares of the company’s stock, valued at approximately $7,283,580.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Desiree A. Burke sold 1,600 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $49.31, for a total value of $78,896.00. Following the sale, the chief financial officer now directly owns 147,710 shares of the company’s stock, valued at approximately $7,283,580.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Brandon John Moore sold 26,623 shares of the stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $48.89, for a total transaction of $1,301,598.47. Following the completion of the sale, the chief operating officer now directly owns 242,414 shares in the company, valued at $11,851,620.46. The disclosure for this sale can be found here. Insiders sold a total of 53,614 shares of company stock worth $2,621,353 over the last 90 days. 4.40% of the stock is currently owned by corporate insiders.

Gaming and Leisure Properties Price Performance

Shares of NASDAQ:GLPI opened at $45.72 on Friday. Gaming and Leisure Properties, Inc. has a 12 month low of $43.54 and a 12 month high of $55.13. The firm has a market capitalization of $12.21 billion, a price-to-earnings ratio of 16.69, a price-to-earnings-growth ratio of 4.75 and a beta of 0.95. The business’s 50 day simple moving average is $47.20 and its 200-day simple moving average is $46.73. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.23 and a quick ratio of 1.23.

Gaming and Leisure Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 8th were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 6.39%. The ex-dividend date was Thursday, December 7th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 106.57%.

Gaming and Leisure Properties Company Profile

(Free Report)

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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