Quarry LP Sells 577 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Quarry LP lessened its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 36.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 988 shares of the real estate investment trust’s stock after selling 577 shares during the quarter. Quarry LP’s holdings in Gaming and Leisure Properties were worth $45,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sunbelt Securities Inc. increased its holdings in Gaming and Leisure Properties by 33.3% during the 2nd quarter. Sunbelt Securities Inc. now owns 32,012 shares of the real estate investment trust’s stock valued at $1,447,000 after purchasing an additional 8,002 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Gaming and Leisure Properties by 74.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,411 shares of the real estate investment trust’s stock worth $199,000 after purchasing an additional 1,886 shares during the last quarter. Creative Planning boosted its position in shares of Gaming and Leisure Properties by 13.6% in the 2nd quarter. Creative Planning now owns 12,896 shares of the real estate investment trust’s stock worth $583,000 after purchasing an additional 1,544 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its holdings in Gaming and Leisure Properties by 1.8% during the second quarter. Duff & Phelps Investment Management Co. now owns 462,800 shares of the real estate investment trust’s stock worth $20,923,000 after acquiring an additional 8,000 shares in the last quarter. Finally, MBB Public Markets I LLC bought a new position in Gaming and Leisure Properties during the second quarter worth about $829,000. Institutional investors own 91.14% of the company’s stock.

Insider Activity

In other news, 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 directly owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 12,973 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $52.02, for a total value of $674,855.46. Following the transaction, the chief financial officer now owns 108,073 shares in the company, valued at approximately $5,621,957.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brandon John Moore sold 30,900 shares of the business’s stock in a transaction dated 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 owns 208,977 shares in the company, valued at $10,459,298.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,478 shares of company stock worth $2,495,429 in the last three months. Corporate insiders own 4.40% of the company’s stock.

Gaming and Leisure Properties Price Performance

Gaming and Leisure Properties stock opened at $51.00 on Friday. Gaming and Leisure Properties, Inc. has a 52 week low of $41.80 and a 52 week high of $52.60. The company’s 50 day moving average price is $50.64 and its two-hundred day moving average price is $46.89. 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 stock has a market cap of $13.85 billion, a P/E ratio of 18.82, a P/E/G ratio of 5.36 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.15). Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The firm had revenue of $380.60 million for the quarter, compared to the consensus estimate of $377.95 million. During the same period in the prior year, the business earned $0.92 EPS. Gaming and Leisure Properties’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities 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 declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 5.96%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 112.18%.

Analysts Set New Price Targets

A number of brokerages have recently commented on GLPI. Deutsche Bank Aktiengesellschaft boosted their price target on Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a report 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. UBS Group upped their target price on Gaming and Leisure Properties from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. JMP Securities upped their price target on shares of 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 increased their price objective 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 company. According to MarketBeat, the company 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.