Principal Financial Group Inc. Decreases Position in Gaming and Leisure Properties Inc (GLPI)

Principal Financial Group Inc. decreased its position in shares of Gaming and Leisure Properties Inc (NASDAQ:GLPI) by 19.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,243 shares of the real estate investment trust’s stock after selling 5,500 shares during the period. Principal Financial Group Inc.’s holdings in Gaming and Leisure Properties were worth $751,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Parallel Advisors LLC lifted its stake in Gaming and Leisure Properties by 50.6% during the 4th quarter. Parallel Advisors LLC now owns 905 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 304 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its stake in Gaming and Leisure Properties by 2.9% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 14,686 shares of the real estate investment trust’s stock worth $475,000 after acquiring an additional 413 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Gaming and Leisure Properties by 43.4% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,434 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 434 shares in the last quarter. Ffcm LLC lifted its stake in Gaming and Leisure Properties by 72.4% during the 4th quarter. Ffcm LLC now owns 1,141 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 479 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Gaming and Leisure Properties by 1.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,107 shares of the real estate investment trust’s stock worth $1,781,000 after acquiring an additional 551 shares in the last quarter. 88.22% of the stock is currently owned by hedge funds and other institutional investors.

GLPI stock opened at $39.84 on Friday. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 2.58. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 0.93 and a beta of 0.55. Gaming and Leisure Properties Inc has a 1 year low of $31.19 and a 1 year high of $39.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Wednesday, February 13th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. The company had revenue of $303.30 million for the quarter, compared to analyst estimates of $306.12 million. Gaming and Leisure Properties had a return on equity of 14.42% and a net margin of 32.16%. Gaming and Leisure Properties’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 EPS. Equities analysts forecast that Gaming and Leisure Properties Inc will post 3.36 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 6.83%. The ex-dividend date was Thursday, March 7th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 85.53%.

In other Gaming and Leisure Properties news, SVP Matthew Demchyk bought 1,000 shares of the business’s stock in a transaction dated Wednesday, February 20th. The shares were acquired at an average price of $36.49 per share, with a total value of $36,490.00. Following the transaction, the senior vice president now owns 33,500 shares of the company’s stock, valued at $1,222,415. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Desiree A. Burke sold 41,458 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $39.06, for a total value of $1,619,349.48. Following the sale, the chief accounting officer now directly owns 119,264 shares in the company, valued at approximately $4,658,451.84. The disclosure for this sale can be found here. 5.88% of the stock is currently owned by company insiders.

A number of equities research analysts have issued reports on the company. Zacks Investment Research raised Gaming and Leisure Properties from a “hold” rating to a “strong-buy” rating and set a $45.00 price target on the stock in a research report on Thursday. BidaskClub lowered Gaming and Leisure Properties from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 14th. Stifel Nicolaus raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and increased their price target for the company from $39.00 to $43.00 in a research report on Monday, April 15th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $41.00 price target on shares of Gaming and Leisure Properties in a research report on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Gaming and Leisure Properties presently has an average rating of “Buy” and a consensus price target of $41.20.

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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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