Advisors Asset Management Inc. Sells 4,538 Shares of Gaming and Leisure Properties Inc (GLPI)

Advisors Asset Management Inc. cut its stake in shares of Gaming and Leisure Properties Inc (NASDAQ:GLPI) by 22.3% in the 2nd quarter, Holdings Channel reports. The firm owned 15,851 shares of the real estate investment trust’s stock after selling 4,538 shares during the quarter. Advisors Asset Management Inc.’s holdings in Gaming and Leisure Properties were worth $567,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of GLPI. Royal Bank of Canada grew its position in Gaming and Leisure Properties by 84.0% during the 1st quarter. Royal Bank of Canada now owns 79,759 shares of the real estate investment trust’s stock valued at $2,670,000 after purchasing an additional 36,418 shares during the last quarter. Allianz Asset Management GmbH grew its position in Gaming and Leisure Properties by 44.3% during the 1st quarter. Allianz Asset Management GmbH now owns 401,603 shares of the real estate investment trust’s stock valued at $13,442,000 after purchasing an additional 123,339 shares during the last quarter. Amalgamated Bank grew its position in Gaming and Leisure Properties by 4.5% during the 2nd quarter. Amalgamated Bank now owns 41,477 shares of the real estate investment trust’s stock valued at $1,485,000 after purchasing an additional 1,779 shares during the last quarter. Hartford Investment Management Co. purchased a new stake in Gaming and Leisure Properties during the 2nd quarter valued at about $320,000. Finally, Janney Montgomery Scott LLC grew its position in Gaming and Leisure Properties by 13.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 22,286 shares of the real estate investment trust’s stock valued at $798,000 after purchasing an additional 2,564 shares during the last quarter. 86.51% of the stock is owned by institutional investors.

GLPI opened at $33.70 on Wednesday. The company has a current ratio of 10.00, a quick ratio of 10.00 and a debt-to-equity ratio of 2.31. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 10.70, a P/E/G ratio of 1.02 and a beta of 0.75. Gaming and Leisure Properties Inc has a 52-week low of $32.51 and a 52-week high of $37.32.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Thursday, November 1st. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.26). The company had revenue of $254.14 million for the quarter, compared to the consensus estimate of $255.55 million. Gaming and Leisure Properties had a net margin of 38.95% and a return on equity of 16.10%. Gaming and Leisure Properties’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.45 EPS. As a group, analysts expect that Gaming and Leisure Properties Inc will post 3.09 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be paid a dividend of $0.68 per share. The ex-dividend date is Thursday, December 13th. This represents a $2.72 annualized dividend and a yield of 8.07%. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.63. Gaming and Leisure Properties’s dividend payout ratio is currently 80.00%.

Several analysts recently commented on GLPI shares. Zacks Investment Research raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Thursday, October 4th. SunTrust Banks reissued a “buy” rating and set a $39.00 price objective on shares of Gaming and Leisure Properties in a research report on Tuesday, October 2nd. Deutsche Bank increased their price objective on shares of Gaming and Leisure Properties from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, September 26th. BidaskClub downgraded shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. Finally, ValuEngine raised shares of Gaming and Leisure Properties from a “sell” rating to a “hold” rating in a research report on Friday, September 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. Gaming and Leisure Properties presently has an average rating of “Hold” and an average target price of $39.50.

In related news, Director E Scott Urdang bought 14,000 shares of the stock in a transaction on Monday, November 5th. The shares were acquired at an average price of $33.72 per share, for a total transaction of $472,080.00. Following the purchase, the director now owns 76,971 shares of the company’s stock, valued at $2,595,462.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 5.88% of the stock is currently owned by corporate insiders.

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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.

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

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