Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 5.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 136,827 shares of the real estate investment trust’s stock after selling 8,475 shares during the period. Amalgamated Bank owned 0.05% of Gaming and Leisure Properties worth $6,186,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP boosted its position in Gaming and Leisure Properties by 40.8% during the fourth quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust’s stock worth $627,204,000 after acquiring an additional 3,684,553 shares during the last quarter. Norges Bank purchased a new position in shares of Gaming and Leisure Properties during the 4th quarter worth $141,537,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Gaming and Leisure Properties by 36.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,910,169 shares of the real estate investment trust’s stock worth $134,074,000 after purchasing an additional 781,906 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Gaming and Leisure Properties by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,104,552 shares of the real estate investment trust’s stock valued at $185,564,000 after purchasing an additional 350,250 shares during the period. Finally, Putnam Investments LLC increased its stake in Gaming and Leisure Properties by 3.1% in the fourth quarter. Putnam Investments LLC now owns 9,511,521 shares of the real estate investment trust’s stock valued at $469,394,000 after purchasing an additional 282,828 shares during the last quarter. 91.14% of the stock is owned by institutional investors and hedge funds.

Gaming and Leisure Properties Trading Down 0.7 %

GLPI opened at $50.85 on Friday. The firm’s 50 day moving average is $50.06 and its 200-day moving average is $46.46. 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 quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $13.81 billion, a P/E ratio of 18.76, a P/E/G ratio of 5.47 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.15). The firm had revenue of $380.60 million for the quarter, compared to analysts’ expectations of $377.95 million. Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the firm earned $0.92 EPS. Analysts expect that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date of this dividend is Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio is currently 112.18%.

Analysts Set New Price Targets

A number of analysts have issued reports on GLPI shares. Raymond James raised their price target on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. UBS Group upped their price target on shares of Gaming and Leisure Properties from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a report on Monday, July 29th. JMP Securities upped their price objective on Gaming and Leisure Properties from $53.00 to $55.00 and gave the stock a “market outperform” rating in a report on Monday, August 12th. Finally, Scotiabank lifted their target price on Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Tuesday, July 16th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.11.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the transaction, the director now directly owns 156,685 shares of the company’s stock, valued at approximately $7,660,329.65. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Gaming and Leisure Properties news, COO Brandon John Moore sold 30,900 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the completion of the transaction, the chief operating officer now directly owns 208,977 shares of the company’s stock, valued at approximately $10,459,298.85. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director E Scott Urdang sold 5,605 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $48.89, for a total transaction of $274,028.45. Following the completion of the sale, the director now directly owns 156,685 shares of the company’s stock, valued at approximately $7,660,329.65. The disclosure for this sale can be found here. Insiders sold a total of 49,478 shares of company stock worth $2,495,429 in the last 90 days. 4.40% of the stock is owned by corporate insiders.

Gaming and Leisure Properties Profile

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.