Bamco Inc. NY Sells 140,813 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Bamco Inc. NY reduced its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,107,784 shares of the real estate investment trust’s stock after selling 140,813 shares during the period. Gaming and Leisure Properties makes up 1.1% of Bamco Inc. NY’s portfolio, making the stock its 18th biggest position. Bamco Inc. NY owned approximately 2.95% of Gaming and Leisure Properties worth $417,145,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Assetmark Inc. grew its position in Gaming and Leisure Properties by 2,547.6% during the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 535 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Gaming and Leisure Properties in the second quarter worth approximately $31,000. EdgeRock Capital LLC purchased a new stake in shares of Gaming and Leisure Properties during the second quarter valued at approximately $33,000. Versant Capital Management Inc increased its position in shares of Gaming and Leisure Properties by 18,500.0% during 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 in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Gaming and Leisure Properties by 142.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 384 shares during the last quarter. 91.14% of the stock is currently owned by institutional investors.

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 3,000 shares of Gaming and Leisure Properties stock in a transaction on Monday, November 4th. The shares were sold at an average price of $50.39, for a total transaction of $151,170.00. Following the transaction, the director now owns 146,800 shares in the company, valued at approximately $7,397,252. The trade was a 2.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.37% of the stock is currently owned by corporate insiders.

Gaming and Leisure Properties Stock Down 0.1 %

GLPI opened at $51.61 on Monday. The firm’s 50 day simple moving average is $50.59 and its two-hundred day simple moving average is $48.68. The company has a market capitalization of $14.16 billion, a PE ratio of 18.05, a PEG ratio of 2.19 and a beta of 0.99. Gaming and Leisure Properties, Inc. has a 1-year low of $41.80 and a 1-year high of $52.60. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its earnings results 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 return on equity of 17.31% and a net margin of 51.93%. The company had revenue of $385.34 million during the quarter, compared to the consensus estimate of $385.09 million. During the same period in the prior year, the business posted $0.92 earnings per share. Gaming and Leisure Properties’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities analysts forecast that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 5.89%. Gaming and Leisure Properties’s payout ratio is currently 106.29%.

Wall Street Analysts Forecast Growth

GLPI has been the topic of several analyst reports. Wolfe Research raised 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 research report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and upped their price target for the company from $49.00 to $54.00 in a report on Wednesday, November 20th. JMP Securities reiterated a “market outperform” rating and issued a $55.00 price objective on shares of Gaming and Leisure Properties in a report on Tuesday, October 29th. StockNews.com lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Stifel Nicolaus raised their price target 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. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and a consensus target price of $53.32.

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.