Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lowered its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 1.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,000 shares of the real estate investment trust’s stock after selling 800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Gaming and Leisure Properties were worth $3,910,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of Gaming and Leisure Properties during the second quarter worth about $31,000. EdgeRock Capital LLC bought a new stake in Gaming and Leisure Properties in the second quarter valued at about $33,000. MCF Advisors LLC increased its holdings in Gaming and Leisure Properties by 416.7% in the first quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 600 shares during the last quarter. Versant Capital Management Inc boosted its stake in Gaming and Leisure Properties by 18,500.0% in the second quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 740 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Gaming and Leisure Properties by 578.4% in the second quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 590 shares during the period. Institutional investors and hedge funds own 91.14% of the company’s stock.

Gaming and Leisure Properties Price Performance

GLPI opened at $49.77 on Friday. The company has a fifty day moving average price of $51.09 and a two-hundred day moving average price of $47.46. The company has a debt-to-equity ratio of 1.49, a quick ratio of 5.91 and a current ratio of 5.91. Gaming and Leisure Properties, Inc. has a 52 week low of $41.80 and a 52 week high of $52.60. The firm has a market capitalization of $13.66 billion, a PE ratio of 17.22, a P/E/G ratio of 5.82 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.25). The firm had revenue of $385.34 million during the quarter, compared to analyst estimates of $385.09 million. Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. Gaming and Leisure Properties’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $0.92 EPS. As a group, analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.76 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.11%. Gaming and Leisure Properties’s payout ratio is 105.19%.

Insider Activity at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 5,605 shares of the company’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 transaction of $274,028.45. Following the completion of the sale, the director now owns 156,685 shares of the company’s stock, valued at approximately $7,660,329.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Desiree A. Burke sold 12,973 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $52.02, for a total transaction of $674,855.46. Following the transaction, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at $5,621,957.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director E Scott Urdang sold 5,605 shares of Gaming and Leisure Properties stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $48.89, for a total transaction of $274,028.45. Following the completion of the transaction, the director now owns 156,685 shares of the company’s stock, valued at $7,660,329.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,478 shares of company stock worth $2,495,429. Insiders own 4.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wells Fargo & Company restated an “equal weight” rating and issued a $52.00 target price (up from $51.00) on shares of Gaming and Leisure Properties in a research report on Tuesday, October 1st. StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Friday, July 19th. Wolfe Research upgraded Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 target price for the company in a report on Friday, August 23rd. Stifel Nicolaus increased their price objective on Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, JMP Securities increased their price objective on Gaming and Leisure Properties from $53.00 to $55.00 and gave the stock a “market outperform” rating in a report on Monday, August 12th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.