Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Sold by Spirit of America Management Corp NY

Spirit of America Management Corp NY reduced its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,885 shares of the real estate investment trust’s stock after selling 500 shares during the quarter. Spirit of America Management Corp NY’s holdings in Gaming and Leisure Properties were worth $1,486,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its holdings in Gaming and Leisure Properties by 6.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,534,033 shares of the real estate investment trust’s stock worth $284,726,000 after acquiring an additional 341,492 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Gaming and Leisure Properties by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,104,552 shares of the real estate investment trust’s stock valued at $185,564,000 after buying an additional 350,250 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Gaming and Leisure Properties by 36.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,910,169 shares of the real estate investment trust’s stock worth $134,074,000 after buying an additional 781,906 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Gaming and Leisure Properties by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,761,119 shares of the real estate investment trust’s stock worth $124,830,000 after buying an additional 35,311 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC raised its holdings in shares of Gaming and Leisure Properties by 1.5% during the first quarter. Lasalle Investment Management Securities LLC now owns 1,479,756 shares of the real estate investment trust’s stock valued at $68,172,000 after acquiring an additional 21,667 shares during the last quarter. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Gaming and Leisure Properties Price Performance

NASDAQ:GLPI opened at $50.84 on Friday. Gaming and Leisure Properties, Inc. has a 52 week low of $41.80 and a 52 week high of $52.60. The stock’s fifty day moving average is $51.08 and its two-hundred day moving average is $47.42. The company has a market capitalization of $13.80 billion, a P/E ratio of 18.76, a P/E/G ratio of 5.34 and a beta of 0.99. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.49.

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

Gaming and Leisure Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date of this dividend was Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 112.18%.

Insider Transactions at Gaming and Leisure Properties

In related news, CFO Desiree A. Burke sold 12,973 shares of Gaming and Leisure Properties stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $52.02, for a total value of $674,855.46. Following the completion of the sale, the chief financial officer now owns 108,073 shares in the company, valued at approximately $5,621,957.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director E Scott Urdang sold 5,605 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $48.89, for a total value of $274,028.45. Following the completion of the transaction, the director now owns 156,685 shares of the company’s stock, valued at approximately $7,660,329.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Desiree A. Burke sold 12,973 shares of Gaming and Leisure Properties stock in a transaction that occurred 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 transaction, the chief financial officer now owns 108,073 shares of the company’s stock, valued at $5,621,957.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,478 shares of company stock worth $2,495,429. 4.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GLPI has been the subject of several research reports. JMP Securities boosted their price target on Gaming and Leisure Properties from $53.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Monday, August 12th. Stifel Nicolaus increased their target price on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a “buy” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Wolfe Research upgraded shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a report on Friday, August 23rd. Finally, StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Friday, July 19th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.18.

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.