Morse Asset Management Inc Reduces Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Morse Asset Management Inc trimmed its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 10.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,020 shares of the real estate investment trust’s stock after selling 1,400 shares during the period. Morse Asset Management Inc’s holdings in Gaming and Leisure Properties were worth $554,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GLPI. SG Americas Securities LLC lifted its position in shares of Gaming and Leisure Properties by 559.5% in the 4th quarter. SG Americas Securities LLC now owns 36,825 shares of the real estate investment trust’s stock worth $1,817,000 after purchasing an additional 31,241 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in Gaming and Leisure Properties by 4.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 71,022 shares of the real estate investment trust’s stock valued at $3,505,000 after acquiring an additional 3,105 shares during the period. Pacer Advisors Inc. lifted its position in Gaming and Leisure Properties by 107.4% during the 4th quarter. Pacer Advisors Inc. now owns 45,803 shares of the real estate investment trust’s stock valued at $2,260,000 after acquiring an additional 23,722 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in Gaming and Leisure Properties during the 4th quarter valued at about $219,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in Gaming and Leisure Properties during the 4th quarter valued at about $112,000. 91.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GLPI has been the subject of a number of recent research reports. JMP Securities reissued a “market outperform” rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a research report on Monday, July 15th. Wedbush reissued an “outperform” rating and set a $51.00 price target on shares of Gaming and Leisure Properties in a research report on Friday, May 17th. UBS Group lifted their price target on shares of Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Stifel Nicolaus lifted their price target 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. Finally, Wells Fargo & Company decreased their target price on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set an “equal weight” rating for the company in a report on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.41.

Gaming and Leisure Properties Stock Up 1.0 %

Gaming and Leisure Properties stock traded up $0.47 during trading hours on Friday, hitting $49.45. The stock had a trading volume of 1,425,927 shares, compared to its average volume of 1,341,977. The company has a quick ratio of 6.47, a current ratio of 6.47 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $13.43 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 5.82 and a beta of 0.98. Gaming and Leisure Properties, Inc. has a 12-month low of $41.80 and a 12-month high of $49.99. The stock’s 50-day moving average price is $45.43 and its 200-day moving average price is $45.18.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). Gaming and Leisure Properties had a return on equity of 17.66% and a net margin of 52.79%. The company had revenue of $380.60 million during the quarter, compared to the consensus estimate of $377.95 million. During the same quarter in the prior year, the firm earned $0.92 earnings per share. The business’s revenue was up 6.7% compared to the same quarter last year. Equities research analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.66 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a $0.76 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.15%. Gaming and Leisure Properties’s dividend payout ratio is presently 112.18%.

Gaming and Leisure Properties Profile

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.