Bank of Nova Scotia Sells 7,268 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Posted by on May 24th, 2023

Bank of Nova Scotia lowered its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Get Rating) by 28.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,608 shares of the real estate investment trust’s stock after selling 7,268 shares during the quarter. Bank of Nova Scotia’s holdings in Gaming and Leisure Properties were worth $969,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its holdings in shares of Gaming and Leisure Properties by 2,063.7% in the 4th 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. Vanguard Group Inc. raised its holdings in shares of Gaming and Leisure Properties by 5.3% in the 3rd quarter. Vanguard Group Inc. now owns 36,132,441 shares of the real estate investment trust’s stock valued at $1,598,500,000 after acquiring an additional 1,817,088 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Gaming and Leisure Properties by 11.2% in the 3rd quarter. BlackRock Inc. now owns 17,418,081 shares of the real estate investment trust’s stock valued at $770,577,000 after acquiring an additional 1,754,145 shares in the last quarter. Heitman Real Estate Securities LLC purchased a new stake in shares of Gaming and Leisure Properties in the 3rd quarter valued at about $58,492,000. Finally, Wellington Management Group LLP raised its holdings in shares of Gaming and Leisure Properties by 13.6% in the 1st quarter. Wellington Management Group LLP now owns 10,515,906 shares of the real estate investment trust’s stock valued at $493,511,000 after acquiring an additional 1,255,222 shares in the last quarter. Institutional investors own 90.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GLPI shares. Raymond James raised their price target on Gaming and Leisure Properties from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, April 6th. JMP Securities reissued a “market outperform” rating and set a $57.00 price objective on shares of Gaming and Leisure Properties in a report on Tuesday, March 21st. Finally, StockNews.com assumed coverage on Gaming and Leisure Properties in a report on Thursday, May 18th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $56.80.

Insider Buying and Selling

In other Gaming and Leisure Properties news, Director E Scott Urdang acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, March 1st. The shares were purchased at an average cost of $53.82 per share, for a total transaction of $53,820.00. Following the transaction, the director now owns 150,132 shares in the company, valued at $8,080,104.24. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 4.60% of the stock is owned by corporate insiders.

Gaming and Leisure Properties Price Performance

GLPI opened at $47.86 on Wednesday. The stock’s 50 day simple moving average is $50.52 and its 200 day simple moving average is $51.62. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.08 and a quick ratio of 0.08. Gaming and Leisure Properties, Inc. has a 1 year low of $42.71 and a 1 year high of $55.13. The firm has a market cap of $12.56 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 4.47 and a beta of 0.99.

Gaming and Leisure Properties Company Profile

(Get Rating)

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.

See Also

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

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