Hanlon Investment Management Inc. Sells 55,696 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Hanlon Investment Management Inc. decreased its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 3.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,580,592 shares of the real estate investment trust’s stock after selling 55,696 shares during the quarter. Gaming and Leisure Properties comprises approximately 22.8% of Hanlon Investment Management Inc.’s holdings, making the stock its largest position. Hanlon Investment Management Inc. owned approximately 0.58% of Gaming and Leisure Properties worth $81,321,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in Gaming and Leisure Properties by 36.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,910,169 shares of the real estate investment trust’s stock worth $134,074,000 after buying an additional 781,906 shares in the last quarter. DigitalBridge Group Inc. acquired a new stake in shares of Gaming and Leisure Properties during the 2nd quarter valued at $16,936,000. Dimensional Fund Advisors LP boosted its stake in shares of Gaming and Leisure Properties by 9.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,104,552 shares of the real estate investment trust’s stock worth $185,564,000 after acquiring an additional 350,250 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Gaming and Leisure Properties by 6.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,534,033 shares of the real estate investment trust’s stock worth $284,726,000 after acquiring an additional 341,492 shares in the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of Gaming and Leisure Properties by 126.3% in the 1st quarter. National Bank of Canada FI now owns 454,732 shares of the real estate investment trust’s stock worth $20,131,000 after acquiring an additional 253,763 shares during the last quarter. Institutional investors own 91.14% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on GLPI shares. Royal Bank of Canada upped their target price on Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, July 29th. JMP Securities reiterated a “market outperform” rating and issued a $55.00 target price on shares of Gaming and Leisure Properties in a report on Tuesday, October 29th. Wolfe Research raised shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research report on Friday, August 23rd. Stifel Nicolaus upped their price target on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, StockNews.com lowered shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.18.

Insider Buying and Selling

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 3,000 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $50.39, for a total value of $151,170.00. Following the completion of the sale, the director now owns 146,800 shares of the company’s stock, valued at $7,397,252. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Gaming and Leisure Properties news, Director E Scott Urdang sold 3,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $50.39, for a total transaction of $151,170.00. Following the transaction, the director now owns 146,800 shares in the company, valued at $7,397,252. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Desiree A. Burke sold 12,973 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $52.02, for a total transaction of $674,855.46. Following the completion of the sale, the chief financial officer now owns 108,073 shares of the company’s stock, valued at $5,621,957.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,363 shares of company stock worth $2,991,951. Corporate insiders own 4.37% of the company’s stock.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ GLPI opened at $50.59 on Tuesday. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35. Gaming and Leisure Properties, Inc. has a one year low of $41.80 and a one year high of $52.60. The business’s 50-day moving average price is $51.13 and its two-hundred day moving average price is $47.83. The company has a market capitalization of $13.88 billion, a P/E ratio of 17.69, a price-to-earnings-growth ratio of 2.14 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.25). The firm had revenue of $385.34 million during the quarter, compared to the consensus estimate of $385.09 million. Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 EPS. Analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 6.01%. The ex-dividend date of this dividend was Friday, September 13th. Gaming and Leisure Properties’s payout ratio is presently 106.29%.

Gaming and Leisure Properties Company Profile

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.