Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Sold by Millennium Management LLC

Millennium Management LLC cut its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 82.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 195,955 shares of the real estate investment trust’s stock after selling 928,312 shares during the quarter. Millennium Management LLC owned 0.07% of Gaming and Leisure Properties worth $8,859,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. MBB Public Markets I LLC bought a new position in shares of Gaming and Leisure Properties in the 2nd quarter worth about $829,000. Dark Forest Capital Management LP raised its stake in Gaming and Leisure Properties by 6.3% during the second quarter. Dark Forest Capital Management LP now owns 7,899 shares of the real estate investment trust’s stock worth $357,000 after acquiring an additional 465 shares during the period. DigitalBridge Group Inc. bought a new position in Gaming and Leisure Properties in the second quarter worth about $16,936,000. APG Asset Management N.V. boosted its stake in Gaming and Leisure Properties by 348.6% in the second quarter. APG Asset Management N.V. now owns 31,142 shares of the real estate investment trust’s stock valued at $1,314,000 after acquiring an additional 24,200 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Gaming and Leisure Properties by 52.2% during the second quarter. AQR Capital Management LLC now owns 284,286 shares of the real estate investment trust’s stock valued at $12,634,000 after purchasing an additional 97,502 shares during the last quarter. Institutional investors and hedge funds own 91.14% of the company’s stock.

Gaming and Leisure Properties Trading Up 0.0 %

Shares of Gaming and Leisure Properties stock opened at $51.01 on Wednesday. The business has a fifty day simple moving average of $50.68 and a 200-day simple moving average of $46.99. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.80 and a fifty-two week high of $52.60. The firm has a market cap of $13.85 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 5.36 and a beta of 0.99. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.49.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share 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 business had revenue of $380.60 million during the quarter, compared to analyst estimates of $377.95 million. During the same period in the previous year, the company posted $0.92 earnings per share. Gaming and Leisure Properties’s revenue was up 6.7% compared to the same quarter last year. On average, equities analysts forecast 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 announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 5.96%. The ex-dividend date was Friday, September 13th. Gaming and Leisure Properties’s payout ratio is 112.18%.

Analyst Ratings Changes

Several brokerages recently issued reports on GLPI. Wolfe Research raised Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a report on Friday, August 23rd. UBS Group boosted their price target on shares of Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Raymond James increased their price objective on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Scotiabank boosted their target price on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 16th. Finally, Morgan Stanley restated an “overweight” rating and issued a $53.00 price target on shares of Gaming and Leisure Properties in a research note on Friday, June 21st. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Gaming and Leisure Properties currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.18.

Insiders Place Their Bets

In other news, CFO Desiree A. Burke sold 12,973 shares of the stock in a transaction on Friday, August 30th. The stock was 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director E Scott Urdang sold 5,605 shares of Gaming and Leisure Properties stock in a transaction dated 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 owns 156,685 shares of the company’s stock, valued at approximately $7,660,329.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Desiree A. Burke sold 12,973 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $52.02, for a total transaction of $674,855.46. Following the sale, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at $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. Over the last 90 days, insiders have sold 49,478 shares of company stock worth $2,495,429. 4.40% of the stock is owned by insiders.

About Gaming and Leisure Properties

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.