Shikiar Asset Management Inc. Sells 3,882 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Shikiar Asset Management Inc. decreased its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,228 shares of the real estate investment trust’s stock after selling 3,882 shares during the period. Shikiar Asset Management Inc.’s holdings in Gaming and Leisure Properties were worth $2,660,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Assetmark Inc. increased its holdings in shares of Gaming and Leisure Properties by 2,547.6% during the third quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 535 shares during the period. Farther Finance Advisors LLC increased its stake in Gaming and Leisure Properties by 142.2% during 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 period. EverSource Wealth Advisors LLC raised its holdings in Gaming and Leisure Properties by 578.4% in the 2nd 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 in the last quarter. Abich Financial Wealth Management LLC raised its holdings in Gaming and Leisure Properties by 3,191.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 757 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 734 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Gaming and Leisure Properties during the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 91.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Scotiabank reduced their target price on Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating on the stock in a report on Thursday. JPMorgan Chase & Co. raised shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $49.00 to $54.00 in a report on Friday, December 13th. JMP Securities reiterated a “market outperform” rating and issued a $55.00 price target on shares of Gaming and Leisure Properties in a research note on Wednesday, December 18th. Morgan Stanley cut Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 target price for the company. in a report on Wednesday. Finally, Mizuho dropped their price objective on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Gaming and Leisure Properties currently has a consensus rating of “Moderate Buy” and an average price target of $53.93.

Gaming and Leisure Properties Trading Up 0.1 %

GLPI opened at $48.05 on Friday. Gaming and Leisure Properties, Inc. has a twelve month low of $41.80 and a twelve month high of $52.60. The company has a fifty day moving average of $48.96 and a 200-day moving average of $49.58. The stock has a market cap of $13.18 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.86 and a beta of 0.99. The company has a quick ratio of 11.35, a current 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 the consensus estimate of $0.92 by ($0.25). The business had revenue of $385.34 million for the quarter, compared to the consensus estimate of $385.09 million. Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.92 EPS. On average, sell-side analysts predict that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a dividend of $0.76 per share. The ex-dividend date was Friday, December 6th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.33%. Gaming and Leisure Properties’s payout ratio is presently 106.29%.

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 value of $151,170.00. Following the completion of the sale, the director now owns 146,800 shares of the company’s stock, valued at approximately $7,397,252. This trade represents a 2.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Matthew Demchyk sold 1,149 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was 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 in the company, valued at $4,379,436. This represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,016 shares of company stock worth $741,943 in the last quarter. Company insiders own 4.37% of the company’s stock.

Gaming and Leisure Properties Profile

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.