Pinebridge Investments L.P. Has $2.86 Million Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Pinebridge Investments L.P. lessened its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPIFree Report) by 64.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,895 shares of the real estate investment trust’s stock after selling 105,567 shares during the quarter. Pinebridge Investments L.P.’s holdings in Gaming and Leisure Properties were worth $2,857,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of GLPI. Vanguard Group Inc. grew its stake in Gaming and Leisure Properties by 1.5% in the third quarter. Vanguard Group Inc. now owns 37,572,599 shares of the real estate investment trust’s stock valued at $1,711,432,000 after purchasing an additional 555,332 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Gaming and Leisure Properties by 1.7% in the 4th quarter. Principal Financial Group Inc. now owns 8,921,163 shares of the real estate investment trust’s stock valued at $440,259,000 after acquiring an additional 150,055 shares during the period. FMR LLC increased its stake in shares of Gaming and Leisure Properties by 5.6% during the 3rd quarter. FMR LLC now owns 6,436,482 shares of the real estate investment trust’s stock worth $293,182,000 after purchasing an additional 340,784 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Gaming and Leisure Properties by 5.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,277,451 shares of the real estate investment trust’s stock valued at $260,442,000 after purchasing an additional 275,026 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Gaming and Leisure Properties by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,730,590 shares of the real estate investment trust’s stock worth $184,106,000 after purchasing an additional 45,729 shares during the period. Institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Price Performance

Gaming and Leisure Properties stock opened at $43.69 on Friday. The stock has a market capitalization of $11.86 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 5.27 and a beta of 0.96. Gaming and Leisure Properties, Inc. has a 52-week low of $41.80 and a 52-week high of $50.59. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.47 and a current ratio of 6.47. The stock’s 50 day moving average price is $44.26 and its two-hundred day moving average price is $45.65.

Gaming and Leisure Properties (NASDAQ:GLPIGet Free Report) last posted its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). The firm had revenue of $376.00 million for the quarter, compared to analyst estimates of $368.44 million. Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company posted $0.92 earnings per share. On average, equities analysts predict that Gaming and Leisure Properties, Inc. will post 3.66 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be issued a dividend of $0.76 per share. The ex-dividend date is Friday, June 7th. This represents a $3.04 annualized dividend and a yield of 6.96%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 112.18%.

Analysts Set New Price Targets

GLPI has been the subject of a number of research analyst reports. StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Friday. JMP Securities reiterated a “market outperform” rating and set a $53.00 price objective on shares of Gaming and Leisure Properties in a research report on Tuesday, May 21st. Morgan Stanley reduced their target price on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, March 21st. Scotiabank raised their price target on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. Finally, Royal Bank of Canada dropped their price objective on shares of Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.31.

Check Out Our Latest Report on GLPI

About Gaming and Leisure Properties

(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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