DigitalBridge Group Inc. Lowers Stock Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

DigitalBridge Group Inc. decreased its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 8.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,796 shares of the real estate investment trust’s stock after selling 19,500 shares during the quarter. DigitalBridge Group Inc. owned about 0.07% of Gaming and Leisure Properties worth $9,622,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Stonebridge Financial Group LLC purchased a new position in shares of Gaming and Leisure Properties during the fourth quarter worth about $31,000. CKW Financial Group grew its stake in shares of Gaming and Leisure Properties by 75.0% in the 4th quarter. CKW Financial Group now owns 700 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 300 shares during the last quarter. Quarry LP increased its holdings in shares of Gaming and Leisure Properties by 52.5% in the fourth quarter. Quarry LP now owns 979 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 337 shares during the period. Bessemer Group Inc. raised its stake in shares of Gaming and Leisure Properties by 149.8% during the fourth quarter. Bessemer Group Inc. now owns 1,029 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 617 shares during the last quarter. Finally, Parvin Asset Management LLC acquired a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth $53,000. Institutional investors and hedge funds own 91.14% of the company’s stock.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $50.89, for a total transaction of $254,450.00. Following the sale, the director now owns 140,953 shares in the company, valued at $7,173,098.17. This trade represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Matthew Demchyk sold 1,903 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $51.99, for a total value of $98,936.97. Following the completion of the transaction, the senior vice president now owns 41,298 shares of the company’s stock, valued at $2,147,083.02. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,842 shares of company stock worth $1,153,961. Corporate insiders own 4.37% of the company’s stock.

Gaming and Leisure Properties Stock Performance

Shares of GLPI opened at $46.52 on Wednesday. Gaming and Leisure Properties, Inc. has a 12-month low of $42.86 and a 12-month high of $52.60. The stock has a market cap of $12.79 billion, a P/E ratio of 16.21, a PEG ratio of 2.01 and a beta of 0.81. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. The company has a 50-day moving average of $49.14 and a two-hundred day moving average of $49.14.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.96. The firm had revenue of $395.24 million for the quarter, compared to analyst estimates of $396.27 million. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. Gaming and Leisure Properties’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. As a group, research analysts predict that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 6.53%. The ex-dividend date was Friday, March 14th. Gaming and Leisure Properties’s payout ratio is 108.19%.

Analysts Set New Price Targets

A number of brokerages have commented on GLPI. Macquarie restated an “outperform” rating and set a $60.00 price objective on shares of Gaming and Leisure Properties in a research report on Friday, April 25th. Royal Bank of Canada cut their price target on shares of Gaming and Leisure Properties from $56.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Barclays lifted their price objective on Gaming and Leisure Properties from $53.00 to $54.00 and gave the company an “equal weight” rating in a report on Tuesday, April 22nd. Scotiabank cut their target price on Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. Finally, Wells Fargo & Company lifted their price target on Gaming and Leisure Properties from $50.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and a consensus price target of $54.70.

About Gaming and Leisure Properties

Gaming & Leisure Properties, Inc engages in the provision of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.