Mirae Asset Global Investments Co. Ltd. Sells 12,856 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Mirae Asset Global Investments Co. Ltd. lowered its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Get Rating) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 288,018 shares of the real estate investment trust’s stock after selling 12,856 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Gaming and Leisure Properties were worth $15,003,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. First Trust Advisors LP increased its position in shares of Gaming and Leisure Properties by 52.7% during the fourth quarter. First Trust Advisors LP now owns 279,315 shares of the real estate investment trust’s stock valued at $14,549,000 after acquiring an additional 96,345 shares in the last quarter. Jennison Associates LLC increased its position in shares of Gaming and Leisure Properties by 6.8% during the fourth quarter. Jennison Associates LLC now owns 1,823,749 shares of the real estate investment trust’s stock valued at $94,999,000 after acquiring an additional 116,776 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Gaming and Leisure Properties by 4.5% during the fourth quarter. Victory Capital Management Inc. now owns 481,631 shares of the real estate investment trust’s stock valued at $25,325,000 after acquiring an additional 20,778 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Gaming and Leisure Properties by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,506,265 shares of the real estate investment trust’s stock valued at $182,641,000 after acquiring an additional 149,609 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Gaming and Leisure Properties by 2,063.7% during the fourth quarter. Principal Financial Group Inc. now owns 5,024,745 shares of the real estate investment trust’s stock valued at $261,739,000 after acquiring an additional 4,792,518 shares in the last quarter. Institutional investors own 90.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. StockNews.com began coverage on shares of Gaming and Leisure Properties in a research report on Thursday. They issued a “hold” rating for the company. JMP Securities reaffirmed a “market outperform” rating and issued a $57.00 price target on shares of Gaming and Leisure Properties in a research report on Tuesday, March 21st. Finally, Raymond James increased their target price on shares of Gaming and Leisure Properties from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, April 6th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $56.80.

Gaming and Leisure Properties Price Performance

Shares of GLPI stock opened at $48.80 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.08 and a quick ratio of 0.08. The firm’s 50-day moving average is $50.66 and its two-hundred day moving average is $51.64. Gaming and Leisure Properties, Inc. has a 12 month low of $42.71 and a 12 month high of $55.13. The company has a market capitalization of $12.80 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99.

Gaming and Leisure Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Investors of record on Friday, March 10th were issued a $0.97 dividend. The ex-dividend date was Thursday, March 9th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.95%. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.71. Gaming and Leisure Properties’s payout ratio is 98.97%.

Insider Activity at Gaming and Leisure Properties

In other news, Director E Scott Urdang purchased 1,000 shares of the stock in a transaction on Wednesday, March 1st. The stock was bought at an average price of $53.82 per share, for a total transaction of $53,820.00. Following the acquisition, the director now directly owns 150,132 shares of the company’s stock, valued at approximately $8,080,104.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.60% of the company’s stock.

About Gaming and Leisure Properties

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Gaming & Leisure Properties, Inc engages in 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.