Summit Investment Advisors Inc. Sells 1,334 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Summit Investment Advisors Inc. cut its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,960 shares of the real estate investment trust’s stock after selling 1,334 shares during the period. Summit Investment Advisors Inc.’s holdings in Gaming and Leisure Properties were worth $2,647,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GLPI. Stonebridge Financial Group LLC purchased a new stake in shares of Gaming and Leisure Properties in the 4th quarter worth $31,000. CKW Financial Group grew its holdings in Gaming and Leisure Properties by 75.0% during the fourth quarter. CKW Financial Group now owns 700 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 300 shares during the period. Bessemer Group Inc. increased its position in Gaming and Leisure Properties by 149.8% in the fourth quarter. Bessemer Group Inc. now owns 1,029 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 617 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Gaming and Leisure Properties in the third quarter worth about $66,000. Finally, UMB Bank n.a. raised its stake in shares of Gaming and Leisure Properties by 57.4% in the fourth quarter. UMB Bank n.a. now owns 1,368 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 499 shares during the period. 91.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Mizuho boosted their price objective on Gaming and Leisure Properties from $51.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, April 3rd. Barclays dropped their price target on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 4th. Scotiabank decreased their price objective on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 16th. JMP Securities reaffirmed a “market outperform” rating and issued a $55.00 target price on shares of Gaming and Leisure Properties in a report on Wednesday, December 18th. Finally, Royal Bank of Canada decreased their price target on Gaming and Leisure Properties from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.11.

Gaming and Leisure Properties Stock Performance

NASDAQ GLPI opened at $48.43 on Tuesday. The stock has a market capitalization of $13.31 billion, a PE ratio of 16.87, a P/E/G ratio of 2.01 and a beta of 0.72. 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 50 day simple moving average of $49.41 and a two-hundred day simple moving average of $49.44. 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 posted its earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. The firm had revenue of $389.62 million during the quarter, compared to analyst estimates of $391.54 million. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. On average, research analysts predict that Gaming and Leisure Properties, Inc. will post 3.81 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, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 6.28%. The ex-dividend date was Friday, March 14th. Gaming and Leisure Properties’s dividend payout ratio is 105.92%.

Insider Activity at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, SVP Matthew Demchyk sold 10,474 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $48.62, for a total transaction of $509,245.88. Following the sale, the senior vice president now directly owns 71,757 shares in the company, valued at $3,488,825.34. This represents a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director E Scott Urdang sold 5,000 shares of Gaming and Leisure Properties stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $50.89, for a total value of $254,450.00. Following the completion of the transaction, the director now owns 140,953 shares of the company’s stock, valued at approximately $7,173,098.17. This trade represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,933 shares of company stock valued at $2,533,487. Insiders own 4.37% of the company’s stock.

About Gaming and Leisure Properties

Gaming & Leisure Properties, Inc engages in the provision of 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.