Shikiar Asset Management Inc. Cuts Stock Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Shikiar Asset Management Inc. trimmed its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 5.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,110 shares of the real estate investment trust’s stock after selling 3,247 shares during the period. Shikiar Asset Management Inc.’s holdings in Gaming and Leisure Properties were worth $3,041,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GLPI. Russell Investments Group Ltd. increased its stake in shares of Gaming and Leisure Properties by 27.4% during the first quarter. Russell Investments Group Ltd. now owns 309,882 shares of the real estate investment trust’s stock worth $14,276,000 after acquiring an additional 66,601 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Gaming and Leisure Properties during the 1st quarter worth approximately $2,396,000. Wellington Management Group LLP raised its stake in shares of Gaming and Leisure Properties by 40.8% during the 4th quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust’s stock worth $627,204,000 after buying an additional 3,684,553 shares in the last quarter. Lasalle Investment Management Securities LLC lifted its holdings in shares of Gaming and Leisure Properties by 1.5% in the 1st 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 buying an additional 21,667 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of Gaming and Leisure Properties in the second quarter valued at approximately $3,165,000. 91.14% of the stock is owned by institutional investors and hedge funds.

Gaming and Leisure Properties Trading Up 0.7 %

Gaming and Leisure Properties stock opened at $50.78 on Friday. The stock has a market cap of $13.79 billion, a PE ratio of 18.74, a P/E/G ratio of 5.34 and a beta of 0.99. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49. The stock has a 50-day moving average price of $50.74 and a 200 day moving average price of $47.09. Gaming and Leisure Properties, Inc. has a 52 week low of $41.80 and a 52 week high of $52.60.

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

Gaming and Leisure Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 5.99%. The ex-dividend date was Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 112.18%.

Insider Activity

In related 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 sale, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director E Scott Urdang sold 5,605 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the transaction, the director now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Desiree A. Burke sold 12,973 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $52.02, for a total value of $674,855.46. Following the sale, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,478 shares of company stock valued at $2,495,429 in the last 90 days. 4.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on GLPI. UBS Group raised their target price on Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Scotiabank upped their target price on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 16th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $52.00 target price (up from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft raised their price objective on Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, StockNews.com raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.18.

Gaming and Leisure Properties Company 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.