Moran Wealth Management LLC Has $1.46 Million Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Moran Wealth Management LLC cut its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,211 shares of the real estate investment trust’s stock after selling 343 shares during the period. Moran Wealth Management LLC’s holdings in Gaming and Leisure Properties were worth $1,455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. grew its stake in shares of 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 worth $29,000 after acquiring an additional 535 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Gaming and Leisure Properties in the fourth quarter worth $31,000. Farther Finance Advisors LLC boosted its holdings in Gaming and Leisure Properties by 142.2% during the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 384 shares during the last quarter. CKW Financial Group grew its position in Gaming and Leisure Properties by 75.0% in the fourth quarter. CKW Financial Group now owns 700 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 300 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Gaming and Leisure Properties in the 3rd quarter valued at $39,000. Institutional investors own 91.14% of the company’s stock.

Insider Activity

In other news, Director E Scott Urdang sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $49.72, for a total transaction of $248,600.00. Following the transaction, the director now directly owns 145,953 shares of the company’s stock, valued at approximately $7,256,783.16. This trade represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Matthew Demchyk sold 1,149 shares of Gaming and Leisure Properties stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $47.80, for a total transaction of $54,922.20. Following the completion of the sale, the senior vice president now owns 91,620 shares of the company’s stock, valued at approximately $4,379,436. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,064 shares of company stock valued at $2,778,908. 4.37% of the stock is owned by company insiders.

Gaming and Leisure Properties Stock Performance

Shares of GLPI stock opened at $50.67 on Wednesday. The company has a market capitalization of $13.93 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 2.01 and a beta of 1.00. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. Gaming and Leisure Properties, Inc. has a 52 week low of $41.80 and a 52 week high of $52.60. The company has a 50-day simple moving average of $48.64 and a 200 day simple moving average of $49.81.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 EPS for the quarter, beating the consensus estimate of $0.94 by $0.01. The company had revenue of $389.62 million for the quarter, compared to the consensus estimate of $391.54 million. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. On average, sell-side analysts predict that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current year.

Gaming and Leisure Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date of this dividend is Friday, March 14th. Gaming and Leisure Properties’s dividend payout ratio is currently 105.92%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $49.00 to $54.00 in a research note on Friday, December 13th. Stifel Nicolaus increased their price target on Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a “buy” rating in a research report on Tuesday, November 26th. JMP Securities reaffirmed a “market outperform” rating and set a $55.00 price target on shares of Gaming and Leisure Properties in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and upped their price objective for the stock from $49.00 to $54.00 in a research note on Wednesday, November 20th. Finally, Scotiabank decreased their target price on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.96.

About Gaming and Leisure Properties

Gaming & Leisure Properties, Inc engages in acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.