Fortress Investment Group LLC Lowers Stock Holdings in Gaming and Leisure Properties Inc (NASDAQ:GLPI)

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Fortress Investment Group LLC reduced its position in shares of Gaming and Leisure Properties Inc (NASDAQ:GLPI) by 82.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 116,541 shares of the real estate investment trust’s stock after selling 557,087 shares during the period. Gaming and Leisure Properties comprises about 0.5% of Fortress Investment Group LLC’s holdings, making the stock its 25th largest holding. Fortress Investment Group LLC owned about 0.05% of Gaming and Leisure Properties worth $4,543,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. United Capital Financial Advisers LLC raised its stake in shares of Gaming and Leisure Properties by 0.9% in the second quarter. United Capital Financial Advisers LLC now owns 36,006 shares of the real estate investment trust’s stock valued at $1,404,000 after acquiring an additional 338 shares in the last quarter. Signaturefd LLC raised its stake in shares of Gaming and Leisure Properties by 100.3% in the first quarter. Signaturefd LLC now owns 721 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 361 shares in the last quarter. Advisor Group Inc. raised its stake in shares of Gaming and Leisure Properties by 8.4% in the second quarter. Advisor Group Inc. now owns 4,781 shares of the real estate investment trust’s stock valued at $187,000 after acquiring an additional 370 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its stake in shares of Gaming and Leisure Properties by 6.5% in the first quarter. Campbell & CO Investment Adviser LLC now owns 6,771 shares of the real estate investment trust’s stock valued at $261,000 after acquiring an additional 412 shares in the last quarter. Finally, ETRADE Capital Management LLC raised its stake in shares of Gaming and Leisure Properties by 2.1% in the second quarter. ETRADE Capital Management LLC now owns 30,420 shares of the real estate investment trust’s stock valued at $1,186,000 after acquiring an additional 640 shares in the last quarter. Institutional investors and hedge funds own 89.54% of the company’s stock.

Gaming and Leisure Properties stock traded up $0.06 during midday trading on Thursday, reaching $38.83. The company’s stock had a trading volume of 52,187 shares, compared to its average volume of 968,582. Gaming and Leisure Properties Inc has a fifty-two week low of $31.19 and a fifty-two week high of $40.82. The company has a quick ratio of 4.80, a current ratio of 4.80 and a debt-to-equity ratio of 2.78. The company has a market cap of $8.33 billion, a P/E ratio of 12.21, a P/E/G ratio of 1.26 and a beta of 0.53. The business has a 50-day simple moving average of $38.19 and a 200-day simple moving average of $38.75.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.33). The firm had revenue of $289.01 million for the quarter, compared to analysts’ expectations of $289.64 million. Gaming and Leisure Properties had a return on equity of 14.98% and a net margin of 29.69%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.43 EPS. As a group, equities analysts forecast that Gaming and Leisure Properties Inc will post 3.33 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 7.00%. The ex-dividend date is Thursday, September 5th. Gaming and Leisure Properties’s payout ratio is 85.53%.

In related news, SVP Matthew Demchyk purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were purchased at an average price of $37.57 per share, with a total value of $187,850.00. Following the completion of the acquisition, the senior vice president now directly owns 42,500 shares in the company, valued at approximately $1,596,725. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 6.05% of the company’s stock.

A number of analysts have weighed in on GLPI shares. Morgan Stanley set a $47.00 price target on Gaming and Leisure Properties and gave the company a “buy” rating in a research note on Friday, August 9th. BidaskClub cut Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Zacks Investment Research upgraded Gaming and Leisure Properties from a “sell” rating to a “hold” rating in a research note on Tuesday. Scotiabank started coverage on Gaming and Leisure Properties in a research note on Monday, July 29th. They issued an “outperform” rating on the stock. Finally, Nomura set a $42.00 price target on Gaming and Leisure Properties and gave the company a “hold” rating in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $43.22.

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.

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Institutional Ownership by Quarter for Gaming and Leisure Properties (NASDAQ:GLPI)

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