EWG Elevate Inc. Trims Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

EWG Elevate Inc. lowered its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 11.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,410 shares of the real estate investment trust’s stock after selling 2,036 shares during the period. EWG Elevate Inc.’s holdings in Gaming and Leisure Properties were worth $844,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GLPI. Ashton Thomas Private Wealth LLC bought a new stake in shares of Gaming and Leisure Properties in the 2nd quarter worth approximately $31,000. EdgeRock Capital LLC bought a new stake in Gaming and Leisure Properties in the second quarter worth $33,000. MCF Advisors LLC grew its stake in shares of Gaming and Leisure Properties by 416.7% in the first quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 600 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Gaming and Leisure Properties by 18,500.0% during the second quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 740 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of 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 worth $35,000 after purchasing an additional 590 shares during the last quarter. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Performance

NASDAQ GLPI remained flat at $51.00 on Monday. The company had a trading volume of 985,173 shares, compared to its average volume of 1,328,757. The business has a 50-day simple moving average of $50.66 and a 200 day simple moving average of $46.94. 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 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 cap of $13.85 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 5.36 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The company had revenue of $380.60 million for the quarter, compared to the consensus estimate of $377.95 million. During the same quarter last year, the firm posted $0.92 earnings per share. The company’s revenue was up 6.7% compared to the same quarter last year. As a group, sell-side analysts predict that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date was Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 112.18%.

Insider Buying and Selling

In related news, Director E Scott Urdang sold 5,605 shares of the 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 owns 156,685 shares in the company, valued at approximately $7,660,329.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director E Scott Urdang sold 5,605 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $48.89, for a total transaction of $274,028.45. Following the completion of the transaction, the director now owns 156,685 shares in the company, valued at approximately $7,660,329.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Desiree A. Burke sold 12,973 shares of Gaming and Leisure Properties stock in a transaction on Friday, August 30th. The shares were sold at an average price of $52.02, for a total transaction of $674,855.46. Following the completion of the sale, the chief financial officer now owns 108,073 shares in the company, valued at approximately $5,621,957.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,478 shares of company stock valued at $2,495,429. Company insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

GLPI has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Wolfe Research raised Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research report on Friday, August 23rd. Royal Bank of Canada increased their target price on Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Friday, July 19th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $52.00 price objective (up from $51.00) on shares of Gaming and Leisure Properties in a research report on Tuesday, October 1st. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and an average target price of $52.18.

Gaming and Leisure Properties Company 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.