Federated Hermes Inc. Decreases Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Federated Hermes Inc. decreased its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 7.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 988,461 shares of the real estate investment trust’s stock after selling 79,299 shares during the period. Federated Hermes Inc.’s holdings in Gaming and Leisure Properties were worth $47,604,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Stonebridge Financial Group LLC bought a new stake in shares of Gaming and Leisure Properties in the fourth quarter valued at $31,000. CKW Financial Group raised its stake in 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 acquiring an additional 300 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Gaming and Leisure Properties in the 3rd quarter valued at about $66,000. UMB Bank n.a. boosted its position in Gaming and Leisure Properties by 57.4% during the fourth quarter. UMB Bank n.a. now owns 1,368 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 499 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in Gaming and Leisure Properties by 59.7% during the fourth quarter. Venturi Wealth Management LLC now owns 1,730 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 647 shares during the period. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on GLPI. Barclays dropped their price target on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 4th. Morgan Stanley downgraded Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 target price on the stock. in a research report on Wednesday, January 15th. 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 report on Monday, March 10th. Scotiabank dropped their price objective on Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. Finally, JMP Securities restated a “market outperform” rating and issued a $55.00 target price on shares of Gaming and Leisure Properties in a research note on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.11.

Insider Transactions at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,000 shares of Gaming and Leisure Properties stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $50.89, for a total transaction of $254,450.00. Following the transaction, the director now directly owns 140,953 shares of the company’s stock, valued at approximately $7,173,098.17. This trade represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Matthew Demchyk sold 17,617 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $49.40, for a total transaction of $870,279.80. Following the completion of the sale, the senior vice president now owns 54,140 shares of the company’s stock, valued at approximately $2,674,516. The trade was a 24.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 50,933 shares of company stock worth $2,533,487. 4.37% of the stock is currently owned by corporate insiders.

Gaming and Leisure Properties Stock Down 2.9 %

GLPI stock opened at $46.49 on Tuesday. Gaming and Leisure Properties, Inc. has a 1-year low of $41.80 and a 1-year high of $52.60. The stock has a market cap of $12.78 billion, a price-to-earnings ratio of 16.20, a price-to-earnings-growth ratio of 2.01 and a beta of 0.72. 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’s 50 day moving average is $49.59 and its 200 day moving average is $49.61.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.01. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. The firm had revenue of $389.62 million for the quarter, compared to analysts’ expectations of $391.54 million. Sell-side 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 declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 6.54%. The ex-dividend date of this dividend was Friday, March 14th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 105.92%.

Gaming and Leisure Properties Profile

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.