Clearbridge Investments LLC Has $22.17 Million Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Clearbridge Investments LLC lessened its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 0.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 481,239 shares of the real estate investment trust’s stock after selling 833 shares during the quarter. Clearbridge Investments LLC owned approximately 0.18% of Gaming and Leisure Properties worth $22,171,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Moody National Bank Trust Division grew its holdings in shares of Gaming and Leisure Properties by 1.2% during the first quarter. Moody National Bank Trust Division now owns 19,068 shares of the real estate investment trust’s stock valued at $878,000 after buying an additional 231 shares in the last quarter. Securian Asset Management Inc. lifted its position in shares of Gaming and Leisure Properties by 1.3% in the fourth quarter. Securian Asset Management Inc. now owns 22,534 shares of the real estate investment trust’s stock worth $1,112,000 after purchasing an additional 289 shares in the last quarter. Private Advisor Group LLC grew its position in Gaming and Leisure Properties by 2.7% during the first quarter. Private Advisor Group LLC now owns 11,440 shares of the real estate investment trust’s stock valued at $527,000 after purchasing an additional 299 shares in the last quarter. Corient Private Wealth LLC increased its stake in Gaming and Leisure Properties by 1.9% in the 4th quarter. Corient Private Wealth LLC now owns 17,844 shares of the real estate investment trust’s stock valued at $881,000 after buying an additional 327 shares during the period. Finally, Woodward Diversified Capital LLC lifted its position in Gaming and Leisure Properties by 6.1% in the 1st quarter. Woodward Diversified Capital LLC now owns 6,077 shares of the real estate investment trust’s stock worth $280,000 after buying an additional 351 shares in the last quarter. Institutional investors and hedge funds own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ:GLPI traded down $0.33 during midday trading on Wednesday, hitting $48.56. The company’s stock had a trading volume of 1,181,397 shares, compared to its average volume of 1,338,255. 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 simple moving average is $45.25 and its 200 day simple moving average is $45.16. The stock has a market capitalization of $13.18 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 5.70 and a beta of 0.98. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.80 and a fifty-two week high of $49.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). Gaming and Leisure Properties had a net margin of 50.05% and a return on equity of 16.79%. The business had revenue of $376.00 million during the quarter, compared to analyst estimates of $368.44 million. During the same period last year, the business earned $0.92 EPS. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, research analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.66 earnings per share for the current year.

Gaming and Leisure Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.04 annualized dividend and a yield of 6.26%. Gaming and Leisure Properties’s dividend payout ratio is 112.18%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on Gaming and Leisure Properties from $49.00 to $48.00 and set an “equal weight” rating for the company in a report on Thursday, May 30th. JMP Securities reaffirmed a “market outperform” rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a research note on Monday, July 15th. Mizuho reduced their price target on Gaming and Leisure Properties from $47.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Royal Bank of Canada increased their price objective on Gaming and Leisure Properties from $47.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Finally, Wedbush reiterated an “outperform” rating and issued a $51.00 target price on shares of Gaming and Leisure Properties in a research note on Friday, May 17th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and an average target price of $51.27.

About Gaming and Leisure Properties

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.