Y Intercept Hong Kong Ltd Reduces Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Y Intercept Hong Kong Ltd lessened its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 46.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,766 shares of the real estate investment trust’s stock after selling 14,559 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Gaming and Leisure Properties were worth $863,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. MML Investors Services LLC grew its position in Gaming and Leisure Properties by 7.9% during the 3rd quarter. MML Investors Services LLC now owns 71,885 shares of the real estate investment trust’s stock worth $3,698,000 after purchasing an additional 5,242 shares during the last quarter. Zacks Investment Management boosted its holdings in shares of Gaming and Leisure Properties by 10.9% in the 3rd quarter. Zacks Investment Management now owns 522,197 shares of the real estate investment trust’s stock valued at $26,867,000 after acquiring an additional 51,398 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in shares of Gaming and Leisure Properties by 18.2% in the 3rd quarter. iA Global Asset Management Inc. now owns 4,709 shares of the real estate investment trust’s stock valued at $242,000 after acquiring an additional 726 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of Gaming and Leisure Properties by 19.7% in the 3rd quarter. EP Wealth Advisors LLC now owns 40,686 shares of the real estate investment trust’s stock valued at $2,093,000 after acquiring an additional 6,696 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Gaming and Leisure Properties by 1.4% in the 3rd quarter. State Street Corp now owns 12,135,195 shares of the real estate investment trust’s stock valued at $624,356,000 after acquiring an additional 162,484 shares during the last quarter. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Raymond James upped their price objective on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, August 21st. Stifel Nicolaus upped their price objective on shares of Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a “buy” rating in a report on Tuesday, November 26th. Wolfe Research raised shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a report on Friday, August 23rd. Mizuho dropped their price objective on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Finally, StockNews.com cut shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Gaming and Leisure Properties has an average rating of “Moderate Buy” and an average price target of $53.50.

Gaming and Leisure Properties Stock Performance

NASDAQ:GLPI opened at $49.60 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. The company has a fifty day moving average of $50.50 and a two-hundred day moving average of $48.96. The stock has a market capitalization of $13.61 billion, a PE ratio of 17.34, a P/E/G ratio of 2.14 and a beta of 0.98. 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 posted its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). The company had revenue of $385.34 million for the quarter, compared to analyst estimates of $385.09 million. Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.92 earnings per share. As a group, research analysts forecast 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date is Friday, December 6th. Gaming and Leisure Properties’s dividend payout ratio is presently 106.29%.

Insiders Place Their Bets

In other news, Director E Scott Urdang sold 3,000 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $50.39, for a total value of $151,170.00. Following the completion of the sale, the director now directly owns 146,800 shares in the company, valued at $7,397,252. This represents a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.37% of the stock is currently owned by company insiders.

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.