Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Stock Position Lowered by Naviter Wealth LLC

Naviter Wealth LLC trimmed its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 8.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,537 shares of the real estate investment trust’s stock after selling 1,431 shares during the period. Naviter Wealth LLC’s holdings in Gaming and Leisure Properties were worth $767,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in Gaming and Leisure Properties in the 4th quarter worth approximately $30,000. Operose Advisors LLC purchased a new position in Gaming and Leisure Properties in the third quarter valued at about $32,000. GAMMA Investing LLC acquired a new position in Gaming and Leisure Properties in the 4th quarter worth about $51,000. Armstrong Advisory Group Inc. raised its stake in shares of Gaming and Leisure Properties by 166.2% during the 4th quarter. Armstrong Advisory Group Inc. now owns 1,203 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 751 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Gaming and Leisure Properties during the 3rd quarter valued at about $79,000. 91.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director E Scott Urdang bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average price of $45.00 per share, with a total value of $112,500.00. Following the transaction, the director now owns 156,685 shares in the company, valued at $7,050,825. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GLPI. StockNews.com upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Mizuho dropped their price objective on Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, March 7th. Morgan Stanley lowered their target price on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. JMP Securities reiterated a “market outperform” rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a report on Monday, March 4th. Finally, Royal Bank of Canada lowered their price objective on shares of Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.91.

Gaming and Leisure Properties Stock Performance

GLPI stock opened at $43.20 on Tuesday. The company has a 50 day moving average price of $44.78 and a 200 day moving average price of $45.84. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.80 and a fifty-two week high of $52.31. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.47 and a quick ratio of 6.47. The stock has a market capitalization of $11.73 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 5.31 and a beta of 0.94.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). The company had revenue of $376.00 million during the quarter, compared to the consensus estimate of $368.44 million. Gaming and Leisure Properties had a net margin of 50.05% and a return on equity of 16.79%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 EPS. Analysts forecast that Gaming and Leisure Properties, Inc. will post 3.66 EPS for the current year.

Gaming and Leisure Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.76 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.04 dividend on an annualized basis and a yield of 7.04%. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. Gaming and Leisure Properties’s payout ratio 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.