Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Stock Position Cut by Burney Co.

Burney Co. reduced its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 131,395 shares of the real estate investment trust’s stock after selling 1,703 shares during the period. Burney Co.’s holdings in Gaming and Leisure Properties were worth $6,328,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GLPI. Assetmark Inc. lifted its holdings in shares of Gaming and Leisure Properties by 2,547.6% in the third quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 535 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in Gaming and Leisure Properties in the 2nd quarter valued at about $31,000. Farther Finance Advisors LLC boosted its position in shares of Gaming and Leisure Properties by 142.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 384 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Gaming and Leisure Properties by 578.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 590 shares during the last quarter. Finally, Abich Financial Wealth Management LLC raised its holdings in shares of Gaming and Leisure Properties by 3,191.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 757 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 734 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Gaming and Leisure Properties Price Performance

Shares of GLPI opened at $47.47 on Wednesday. The business’s 50-day moving average is $49.14 and its 200-day moving average is $49.57. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35. The company has a market capitalization of $13.03 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 2.13 and a beta of 0.99. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.80 and a fifty-two week high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The company had revenue of $385.34 million for the quarter, compared to analysts’ expectations of $385.09 million. During the same period in the previous year, the firm posted $0.92 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts expect that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.76 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.04 annualized dividend and a dividend yield of 6.40%. Gaming and Leisure Properties’s dividend payout ratio is 106.29%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company restated an “equal weight” rating and set a $52.00 target price (up from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. StockNews.com lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Morgan Stanley lowered Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 target price on the stock. in a research report on Wednesday. JPMorgan Chase & Co. upgraded Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and increased their price target for the company from $49.00 to $54.00 in a research report on Friday, December 13th. Finally, JMP Securities reissued a “market outperform” rating and issued a $55.00 price target on shares of Gaming and Leisure Properties in a research note on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Insider Activity at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 6,885 shares of Gaming and Leisure Properties stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.16, for a total value of $345,351.60. Following the completion of the sale, the director now directly owns 149,800 shares in the company, valued at $7,513,968. The trade was a 4.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brandon John Moore sold 3,982 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $47.84, for a total transaction of $190,498.88. Following the completion of the sale, the chief operating officer now directly owns 278,634 shares of the company’s stock, valued at $13,329,850.56. This represents a 1.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,016 shares of company stock valued at $741,943. Insiders own 4.37% of the company’s stock.

Gaming and Leisure Properties Company Profile

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.