Sterling Capital Management LLC Cuts Position in Gaming and Leisure Properties (GLPI)

Sterling Capital Management LLC cut its stake in Gaming and Leisure Properties (NASDAQ:GLPI) by 7.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,501 shares of the real estate investment trust’s stock after selling 6,200 shares during the period. Sterling Capital Management LLC’s holdings in Gaming and Leisure Properties were worth $2,794,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in GLPI. The Manufacturers Life Insurance Company grew its position in Gaming and Leisure Properties by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 6,763 shares of the real estate investment trust’s stock worth $255,000 after acquiring an additional 473 shares in the last quarter. Advisor Group Inc. grew its position in Gaming and Leisure Properties by 68.3% in the third quarter. Advisor Group Inc. now owns 7,824 shares of the real estate investment trust’s stock worth $289,000 after acquiring an additional 3,174 shares in the last quarter. Bank of New York Mellon Corp grew its position in Gaming and Leisure Properties by 5.2% in the third quarter. Bank of New York Mellon Corp now owns 1,335,432 shares of the real estate investment trust’s stock worth $49,264,000 after acquiring an additional 65,562 shares in the last quarter. SG Americas Securities LLC grew its position in Gaming and Leisure Properties by 249.2% in the third quarter. SG Americas Securities LLC now owns 45,559 shares of the real estate investment trust’s stock worth $1,681,000 after acquiring an additional 32,511 shares in the last quarter. Finally, BBT Capital Management LLC grew its position in Gaming and Leisure Properties by 46.6% in the third quarter. BBT Capital Management LLC now owns 676,030 shares of the real estate investment trust’s stock worth $24,939,000 after acquiring an additional 215,000 shares in the last quarter. Institutional investors own 92.71% of the company’s stock.

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Several research analysts recently issued reports on GLPI shares. Ladenburg Thalmann Financial Services set a $40.00 target price on shares of Gaming and Leisure Properties and gave the stock a “buy” rating in a research report on Monday, February 12th. SunTrust Banks upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Thursday, January 11th. Barclays reissued a “buy” rating on shares of Gaming and Leisure Properties in a research note on Sunday, December 24th. UBS raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Tuesday, December 19th. Finally, Morgan Stanley lowered their price target on shares of Gaming and Leisure Properties from $40.00 to $36.00 and set an “equal weight” rating for the company in a research note on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $38.13.

Shares of GLPI stock opened at $32.76 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $7,066.22, a price-to-earnings ratio of 18.40 and a beta of 0.85. Gaming and Leisure Properties has a one year low of $32.05 and a one year high of $39.32.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.33). The business had revenue of $240.70 million during the quarter, compared to the consensus estimate of $243.27 million. Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 39.18%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 earnings per share. equities analysts anticipate that Gaming and Leisure Properties will post 3.05 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Friday, March 9th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 7.69%. The ex-dividend date was Thursday, March 8th. Gaming and Leisure Properties’s dividend payout ratio is presently 141.57%.

In other news, CFO William J. Clifford acquired 54,606 shares of the stock in a transaction dated Monday, February 12th. The stock was purchased at an average cost of $33.00 per share, with a total value of $1,801,998.00. Following the completion of the purchase, the chief financial officer now owns 320,674 shares in the company, valued at approximately $10,582,242. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Peter M. Carlino acquired 40,000 shares of the stock in a transaction dated Monday, February 12th. The shares were purchased at an average cost of $33.33 per share, with a total value of $1,333,200.00. Following the completion of the purchase, the chief executive officer now owns 4,388,089 shares of the company’s stock, valued at approximately $146,255,006.37. The disclosure for this purchase can be found here. Insiders own 5.88% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Gaming and Leisure Properties (NASDAQ:GLPI)

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