Raleigh Capital Management Inc. Decreases Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Raleigh Capital Management Inc. lessened its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,817 shares of the real estate investment trust’s stock after selling 457 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Gaming and Leisure Properties were worth $376,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. increased its position in Gaming and Leisure Properties by 2,547.6% in the third quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 535 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Gaming and Leisure Properties by 142.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 384 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings 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 buying an additional 590 shares during the last quarter. Abich Financial Wealth Management LLC raised its position in shares of Gaming and Leisure Properties by 3,191.3% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 757 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 734 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Gaming and Leisure Properties in the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GLPI. JMP Securities reaffirmed a “market outperform” rating and issued a $55.00 price objective on shares of Gaming and Leisure Properties in a research note on Wednesday, December 18th. Mizuho dropped their price objective on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Wells Fargo & Company reiterated an “equal weight” rating and set 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. Stifel Nicolaus raised their target price on shares of Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Scotiabank cut their price target on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. Six 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.93.

Insider Activity

In related news, SVP Matthew Demchyk sold 1,149 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $47.80, for a total value of $54,922.20. Following the completion of the transaction, the senior vice president now owns 91,620 shares in the company, valued at $4,379,436. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director E Scott Urdang sold 6,885 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.16, for a total value of $345,351.60. Following the completion of the transaction, the director now owns 149,800 shares of the company’s stock, valued at approximately $7,513,968. The trade was a 4.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,490 shares of company stock worth $1,251,189. Insiders own 4.37% of the company’s stock.

Gaming and Leisure Properties Trading Down 2.1 %

Shares of NASDAQ GLPI opened at $48.13 on Thursday. Gaming and Leisure Properties, Inc. has a 1-year low of $41.80 and a 1-year high of $52.60. The business has a fifty day moving average price of $48.91 and a 200 day moving average price of $49.71. The stock has a market capitalization of $13.21 billion, a P/E ratio of 16.83, a price-to-earnings-growth ratio of 2.00 and a beta of 0.99. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The firm had revenue of $385.34 million during the quarter, compared to analysts’ expectations of $385.09 million. During the same period in the previous year, the firm earned $0.92 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Equities research analysts expect 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 declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date of this dividend was Friday, December 6th. Gaming and Leisure Properties’s payout ratio is presently 106.29%.

Gaming and Leisure Properties Profile

Gaming & Leisure Properties, Inc engages in acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.