Hedges Asset Management LLC Cuts Stock Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Hedges Asset Management LLC lessened its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 88,260 shares of the real estate investment trust’s stock after selling 2,500 shares during the period. Gaming and Leisure Properties makes up about 2.8% of Hedges Asset Management LLC’s holdings, making the stock its 6th largest position. Hedges Asset Management LLC’s holdings in Gaming and Leisure Properties were worth $4,251,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Assetmark Inc. increased its stake 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 in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of 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 valued at $34,000 after buying an additional 384 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Gaming and Leisure Properties by 578.4% during the second quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 590 shares in the last quarter. Abich Financial Wealth Management LLC raised its holdings in shares of 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 worth $39,000 after acquiring an additional 734 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Gaming and Leisure Properties in the 3rd quarter worth about $39,000. Institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Price Performance

Gaming and Leisure Properties stock opened at $47.78 on Friday. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. The business’s 50 day simple moving average is $48.90 and its 200 day simple moving average is $49.69. Gaming and Leisure Properties, Inc. has a 12 month low of $41.80 and a 12 month high of $52.60. The company has a market cap of $13.11 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 2.00 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $385.34 million for the quarter, compared to the consensus estimate of $385.09 million. During the same quarter in the previous year, the company posted $0.92 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. Sell-side analysts forecast that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders 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 yield of 6.36%. Gaming and Leisure Properties’s dividend payout ratio is presently 106.29%.

Insider Transactions at Gaming and Leisure Properties

In other news, SVP Matthew Demchyk sold 1,149 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $47.80, for a total value of $54,922.20. Following the completion of the transaction, the senior vice president now directly owns 91,620 shares of the company’s stock, valued at $4,379,436. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director E Scott Urdang sold 3,000 shares of Gaming and Leisure Properties stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $50.39, for a total value of $151,170.00. Following the transaction, the director now directly owns 146,800 shares of the company’s stock, valued at $7,397,252. The trade was a 2.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,490 shares of company stock worth $1,251,189 over the last quarter. Corporate insiders own 4.37% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on GLPI shares. Mizuho decreased their price objective on 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. Scotiabank lowered their price target on Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. Stifel Nicolaus raised their price objective on Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Barclays initiated coverage on shares of Gaming and Leisure Properties in a research note on Tuesday, December 17th. They issued an “equal weight” rating and a $54.53 target price for the company. Finally, JMP Securities reissued 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. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Gaming and Leisure Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.93.

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.