Highland Capital Management LLC Sells 1,530 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Highland Capital Management LLC lowered its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,010 shares of the real estate investment trust’s stock after selling 1,530 shares during the quarter. Highland Capital Management LLC’s holdings in Gaming and Leisure Properties were worth $3,661,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Public Sector Pension Investment Board grew its holdings in Gaming and Leisure Properties by 6.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 27,297 shares of the real estate investment trust’s stock valued at $1,234,000 after buying an additional 1,759 shares in the last quarter. Marshall Wace LLP purchased a new position in Gaming and Leisure Properties during the 2nd quarter valued at approximately $3,288,000. AQR Capital Management LLC boosted its holdings in shares of Gaming and Leisure Properties by 52.2% in the 2nd quarter. AQR Capital Management LLC now owns 284,286 shares of the real estate investment trust’s stock worth $12,634,000 after purchasing an additional 97,502 shares during the period. MBB Public Markets I LLC purchased a new position in shares of Gaming and Leisure Properties in the 2nd quarter worth approximately $829,000. Finally, Creative Planning boosted its holdings in shares of Gaming and Leisure Properties by 13.6% in the 2nd quarter. Creative Planning now owns 12,896 shares of the real estate investment trust’s stock worth $583,000 after purchasing an additional 1,544 shares during the period. Institutional investors own 91.14% of the company’s stock.

Insider Transactions at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, SVP Matthew Demchyk sold 17,617 shares of the 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 transaction, the senior vice president now owns 54,140 shares in the company, valued at approximately $2,674,516. This represents a 24.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director E Scott Urdang sold 3,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $50.39, for a total value of $151,170.00. Following the transaction, the director now owns 146,800 shares in the company, valued at $7,397,252. This represents a 2.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 36,222 shares of company stock valued at $1,776,117. Corporate insiders own 4.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GLPI. JMP Securities reiterated a “market outperform” rating and issued a $55.00 target price on shares of Gaming and Leisure Properties in a report on Wednesday, December 18th. StockNews.com cut Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Mizuho dropped their price objective on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Barclays assumed coverage on Gaming and Leisure Properties in a report on Tuesday, December 17th. They set an “equal weight” rating and a $54.53 price objective for the company. Finally, Scotiabank dropped their price objective on Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating for the company in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Gaming and Leisure Properties has a consensus rating of “Moderate Buy” and a consensus target price of $53.93.

Gaming and Leisure Properties Trading Down 1.8 %

GLPI opened at $48.04 on Thursday. The firm has a market cap of $13.18 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.96 and a beta of 0.99. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. Gaming and Leisure Properties, Inc. has a 12 month low of $41.80 and a 12 month high of $52.60. The stock has a fifty day moving average price of $48.80 and a 200-day moving average price of $49.80.

Gaming and Leisure Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 6.33%. The ex-dividend date was Friday, December 6th. Gaming and Leisure Properties’s payout ratio is 106.29%.

About Gaming and Leisure Properties

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.