abrdn plc Sells 647,281 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

abrdn plc lessened its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 54.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 540,301 shares of the real estate investment trust’s stock after selling 647,281 shares during the quarter. abrdn plc’s holdings in Gaming and Leisure Properties were worth $27,798,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Gaming and Leisure Properties by 6.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,534,033 shares of the real estate investment trust’s stock valued at $284,726,000 after acquiring an additional 341,492 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Gaming and Leisure Properties by 9.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,104,552 shares of the real estate investment trust’s stock valued at $185,564,000 after acquiring an additional 350,250 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 valued at $134,074,000 after acquiring an additional 781,906 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Gaming and Leisure Properties by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 2,761,119 shares of the real estate investment trust’s stock worth $124,830,000 after purchasing an additional 35,311 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC raised its holdings in Gaming and Leisure Properties by 1.5% in the first quarter. Lasalle Investment Management Securities LLC now owns 1,479,756 shares of the real estate investment trust’s stock worth $68,172,000 after purchasing an additional 21,667 shares in the last quarter. Institutional investors own 91.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GLPI shares. JMP Securities reiterated a “market outperform” rating and issued a $55.00 price objective on shares of Gaming and Leisure Properties in a report on Tuesday. StockNews.com downgraded Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Monday. Raymond James increased their price objective on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Wells Fargo & Company reiterated an “equal weight” rating and issued a $52.00 price objective (up previously from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Finally, Scotiabank increased their price objective on Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 16th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.18.

Gaming and Leisure Properties Trading Down 0.2 %

Gaming and Leisure Properties stock opened at $50.78 on Thursday. The company has a debt-to-equity ratio of 1.49, a current ratio of 5.91 and a quick ratio of 5.91. Gaming and Leisure Properties, Inc. has a one year low of $41.80 and a one year high of $52.60. The stock has a market capitalization of $13.79 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 5.82 and a beta of 0.99. The business’s fifty day moving average is $51.15 and its 200 day moving average is $47.62.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings data 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). Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The business had revenue of $385.34 million for the quarter, compared to analysts’ expectations of $385.09 million. During the same period last year, the business earned $0.92 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts predict that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.76 per share. The ex-dividend date was Friday, September 13th. This represents a $3.04 annualized dividend and a dividend yield of 5.99%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 112.18%.

Insider Activity at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, COO Brandon John Moore sold 30,900 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $50.05, for a total value of $1,546,545.00. Following the transaction, the chief operating officer now directly owns 208,977 shares of the company’s stock, valued at approximately $10,459,298.85. 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 accessible through this hyperlink. In other Gaming and Leisure Properties news, COO Brandon John Moore sold 30,900 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $50.05, for a total value of $1,546,545.00. Following the transaction, the chief operating officer now directly owns 208,977 shares of the company’s stock, valued at approximately $10,459,298.85. 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 accessible through this hyperlink. Also, Director E Scott Urdang sold 5,605 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the completion of the transaction, the director now directly owns 156,685 shares in the company, valued at $7,660,329.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,363 shares of company stock valued at $2,840,781 over the last ninety days. Insiders own 4.40% of the company’s stock.

Gaming and Leisure Properties 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.