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

Hedges Asset Management LLC decreased its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor 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 approximately 2.8% of Hedges Asset Management LLC’s investment portfolio, making the stock its 6th biggest 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 added to or reduced their stakes in GLPI. Assetmark Inc. raised its holdings in shares of Gaming and Leisure Properties by 2,547.6% in the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 535 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Gaming and Leisure Properties by 142.2% in 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. EverSource Wealth Advisors LLC raised its stake in Gaming and Leisure Properties by 578.4% in the second quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 590 shares in the last quarter. Abich Financial Wealth Management LLC lifted its position in Gaming and Leisure Properties by 3,191.3% during the third quarter. Abich Financial Wealth Management LLC now owns 757 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 734 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in Gaming and Leisure Properties in the 3rd quarter worth approximately $39,000. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Price Performance

Shares of Gaming and Leisure Properties stock opened at $47.78 on Friday. The firm has a market cap of $13.11 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 2.00 and a beta of 0.99. The company’s fifty day simple moving average is $48.90 and its two-hundred day simple moving average is $49.69. 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, Inc. has a 12-month low of $41.80 and a 12-month high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The business had revenue of $385.34 million for the quarter, compared to analysts’ expectations of $385.09 million. During the same quarter in the prior year, the firm earned $0.92 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities analysts expect 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. Stockholders of record on Friday, December 6th were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.04 annualized dividend and a dividend yield of 6.36%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 106.29%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GLPI shares. JPMorgan Chase & Co. upgraded shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $49.00 to $54.00 in a research report on Friday, December 13th. StockNews.com lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and increased their price objective for the company from $49.00 to $54.00 in a research report on Wednesday, November 20th. Morgan Stanley downgraded 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 research report on Wednesday, January 15th. 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 note on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.93.

Insider Activity at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, COO Brandon John Moore sold 3,982 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $47.84, for a total transaction of $190,498.88. Following the transaction, the chief operating officer now owns 278,634 shares in the company, valued at approximately $13,329,850.56. This represents a 1.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Matthew Demchyk sold 1,149 shares of the stock in a transaction that occurred 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 represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,490 shares of company stock worth $1,251,189 over the last quarter. 4.37% of the stock is owned by corporate insiders.

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.