Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Sold by Naviter Wealth LLC

Naviter Wealth LLC reduced its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 5.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,727 shares of the real estate investment trust’s stock after selling 1,153 shares during the quarter. Naviter Wealth LLC’s holdings in Gaming and Leisure Properties were worth $964,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its stake in Gaming and Leisure Properties by 27.4% during the first quarter. Russell Investments Group Ltd. now owns 309,882 shares of the real estate investment trust’s stock valued at $14,276,000 after buying an additional 66,601 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Gaming and Leisure Properties in the 1st quarter valued at approximately $2,396,000. Lasalle Investment Management Securities LLC boosted its stake in Gaming and Leisure Properties by 1.5% in the 1st quarter. Lasalle Investment Management Securities LLC now owns 1,479,756 shares of the real estate investment trust’s stock worth $68,172,000 after purchasing an additional 21,667 shares during the period. Manning & Napier Advisors LLC acquired a new position in Gaming and Leisure Properties in the 2nd quarter worth approximately $3,165,000. Finally, Caxton Associates LP grew its position in Gaming and Leisure Properties by 72.5% during the 1st quarter. Caxton Associates LP now owns 24,282 shares of the real estate investment trust’s stock worth $1,119,000 after purchasing an additional 10,209 shares in the last quarter. 91.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GLPI shares. Wolfe Research raised Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 target price for the company in a research report on Friday, August 23rd. StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $52.00 target price (up previously from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Raymond James raised their price target on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $52.18.

Insider Activity

In related news, CFO Desiree A. Burke sold 12,973 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $52.02, for a total transaction of $674,855.46. Following the completion of the sale, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Desiree A. Burke sold 12,973 shares of Gaming and Leisure Properties stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $52.02, for a total value of $674,855.46. Following the transaction, the chief financial officer now directly owns 108,073 shares in the company, valued at approximately $5,621,957.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Brandon John Moore sold 30,900 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $50.05, for a total value of $1,546,545.00. Following the sale, the chief operating officer now owns 208,977 shares of the company’s stock, valued at approximately $10,459,298.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,478 shares of company stock valued at $2,495,429 over the last 90 days. 4.40% of the stock is currently owned by company insiders.

Gaming and Leisure Properties Stock Down 0.7 %

GLPI stock opened at $50.97 on Friday. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49. The firm has a market cap of $13.84 billion, a PE ratio of 18.81, a PEG ratio of 5.34 and a beta of 0.99. Gaming and Leisure Properties, Inc. has a 1 year low of $41.80 and a 1 year high of $52.60. The company has a fifty day simple moving average of $50.91 and a 200 day simple moving average of $47.23.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). The company had revenue of $380.60 million during the quarter, compared to analyst estimates of $377.95 million. Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. Gaming and Leisure Properties’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. Sell-side analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.76 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.04 annualized dividend and a yield of 5.96%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 112.18%.

About Gaming and Leisure Properties

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.