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

Commerce Bank reduced its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 1.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 13,398 shares of the real estate investment trust’s stock after selling 217 shares during the quarter. Commerce Bank’s holdings in Gaming and Leisure Properties were worth $689,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Assetmark Inc. raised its position in Gaming and Leisure Properties by 2,547.6% during the third 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 holdings in shares of Gaming and Leisure Properties by 142.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 384 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Gaming and Leisure Properties in the 2nd quarter valued at $31,000. EverSource Wealth Advisors LLC boosted its holdings in Gaming and Leisure Properties by 578.4% during the second quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 590 shares in the last quarter. Finally, EdgeRock Capital LLC acquired a new stake in Gaming and Leisure Properties during the second quarter valued at $33,000. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company reiterated an “equal weight” rating and issued a $52.00 price objective (up previously from $51.00) on shares of Gaming and Leisure Properties in a research report on Tuesday, October 1st. Raymond James increased their price target on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and boosted their price objective for the company from $49.00 to $54.00 in a research report on Wednesday, November 20th. StockNews.com lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Wolfe Research raised shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price target for the company in a report on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.96.

Insider Activity

In related news, Director E Scott Urdang sold 6,885 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.16, for a total value of $345,351.60. Following the sale, the director now directly owns 149,800 shares in the company, valued at approximately $7,513,968. The trade was a 4.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Desiree A. Burke sold 12,973 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $52.02, for a total value of $674,855.46. Following the transaction, the chief financial officer now directly owns 108,073 shares in the company, valued at approximately $5,621,957.46. The trade was a 10.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,858 shares of company stock valued at $1,171,377 in the last 90 days. Company insiders own 4.37% of the company’s stock.

Gaming and Leisure Properties Price Performance

GLPI stock opened at $51.28 on Tuesday. Gaming and Leisure Properties, Inc. has a 1 year low of $41.80 and a 1 year high of $52.60. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35. The firm has a market capitalization of $14.07 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 2.16 and a beta of 0.99. The business has a 50 day simple moving average of $50.56 and a 200-day simple moving average of $48.51.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $385.34 million during the quarter, compared to analysts’ expectations of $385.09 million. During the same quarter in the previous year, the company earned $0.92 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.76 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.04 annualized dividend and a yield of 5.93%. Gaming and Leisure Properties’s payout ratio is 106.29%.

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.