Geneos Wealth Management Inc. Lowers Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Geneos Wealth Management Inc. cut its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 85.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 550 shares of the real estate investment trust’s stock after selling 3,250 shares during the period. Geneos Wealth Management Inc.’s holdings in Gaming and Leisure Properties were worth $27,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Raleigh Capital Management Inc. increased its stake in Gaming and Leisure Properties by 3.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 6,872 shares of the real estate investment trust’s stock worth $313,000 after acquiring an additional 203 shares during the last quarter. Arete Wealth Advisors LLC increased its position in shares of Gaming and Leisure Properties by 6.9% during the 3rd quarter. Arete Wealth Advisors LLC now owns 4,602 shares of the real estate investment trust’s stock valued at $210,000 after purchasing an additional 299 shares during the last quarter. First Republic Investment Management Inc. increased its position in shares of Gaming and Leisure Properties by 1.8% during the 1st quarter. First Republic Investment Management Inc. now owns 18,616 shares of the real estate investment trust’s stock valued at $874,000 after purchasing an additional 334 shares during the last quarter. Atlas Capital Advisors LLC increased its position in shares of Gaming and Leisure Properties by 203.0% during the 1st quarter. Atlas Capital Advisors LLC now owns 512 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 343 shares during the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Gaming and Leisure Properties by 4.8% during the 2nd quarter. Captrust Financial Advisors now owns 7,634 shares of the real estate investment trust’s stock valued at $370,000 after purchasing an additional 348 shares during the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Price Performance

Shares of GLPI stock opened at $42.03 on Thursday. Gaming and Leisure Properties, Inc. has a twelve month low of $41.80 and a twelve month high of $52.45. The stock has a market capitalization of $11.41 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 5.35 and a beta of 0.94. The stock has a fifty day simple moving average of $45.15 and a two-hundred day simple moving average of $46.00. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.48.

Gaming and Leisure Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 7.23%. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. The ex-dividend date was Thursday, March 14th. Gaming and Leisure Properties’s dividend payout ratio is currently 109.75%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. StockNews.com raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Morgan Stanley cut their price objective on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. Royal Bank of Canada cut their price objective on Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Mizuho cut their price objective on Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $53.00 price objective on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.09.

Insiders Place Their Bets

In other news, Director E Scott Urdang bought 2,500 shares of the stock in a transaction on Friday, March 1st. The stock was acquired at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the acquisition, the director now owns 156,685 shares of the company’s stock, valued at $7,050,825. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.40% of the company’s stock.

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.