Morse Asset Management Inc Sells 1,400 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Morse Asset Management Inc lowered its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 10.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 12,020 shares of the real estate investment trust’s stock after selling 1,400 shares during the period. Morse Asset Management Inc’s holdings in Gaming and Leisure Properties were worth $554,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Moody National Bank Trust Division grew its holdings in Gaming and Leisure Properties by 1.2% in the first quarter. Moody National Bank Trust Division now owns 19,068 shares of the real estate investment trust’s stock worth $878,000 after purchasing an additional 231 shares during the period. Securian Asset Management Inc. grew its holdings in Gaming and Leisure Properties by 1.3% in the fourth quarter. Securian Asset Management Inc. now owns 22,534 shares of the real estate investment trust’s stock worth $1,112,000 after purchasing an additional 289 shares during the period. Private Advisor Group LLC grew its holdings in Gaming and Leisure Properties by 2.7% in the first quarter. Private Advisor Group LLC now owns 11,440 shares of the real estate investment trust’s stock worth $527,000 after purchasing an additional 299 shares during the period. Corient Private Wealth LLC grew its holdings in Gaming and Leisure Properties by 1.9% in the fourth quarter. Corient Private Wealth LLC now owns 17,844 shares of the real estate investment trust’s stock worth $881,000 after purchasing an additional 327 shares during the period. Finally, Woodward Diversified Capital LLC grew its holdings in Gaming and Leisure Properties by 6.1% in the first quarter. Woodward Diversified Capital LLC now owns 6,077 shares of the real estate investment trust’s stock worth $280,000 after purchasing an additional 351 shares during the period. Institutional investors own 91.14% of the company’s stock.

Analysts Set New Price Targets

GLPI has been the subject of a number of research reports. Mizuho reduced their price target on shares of Gaming and Leisure Properties from $47.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, May 10th. StockNews.com upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Friday, July 19th. Morgan Stanley reiterated an “overweight” rating and set a $53.00 price objective on shares of Gaming and Leisure Properties in a report on Friday, June 21st. Scotiabank lifted their price objective on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Tuesday, July 16th. Finally, Wedbush reiterated an “outperform” rating and set a $51.00 price objective on shares of Gaming and Leisure Properties in a report on Friday, May 17th. Five analysts have rated the stock with a hold rating and seven have issued 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 target price of $51.41.

Gaming and Leisure Properties Stock Up 1.0 %

Shares of GLPI traded up $0.47 during trading hours on Friday, reaching $49.45. 1,425,927 shares of the stock traded hands, compared to its average volume of 1,341,977. The company has a current ratio of 6.47, a quick ratio of 6.47 and a debt-to-equity ratio of 1.49. The stock has a fifty day simple moving average of $45.43 and a 200 day simple moving average of $45.18. Gaming and Leisure Properties, Inc. has a 52 week low of $41.80 and a 52 week high of $49.99. The company has a market cap of $13.43 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 5.82 and a beta of 0.98.

Gaming and Leisure Properties (NASDAQ:GLPI) last released 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). The firm had revenue of $380.60 million for the quarter, compared to the consensus estimate of $377.95 million. Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.66%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 earnings per share. On average, equities analysts forecast that Gaming and Leisure Properties, Inc. will post 3.66 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 6.15%. The ex-dividend date was Friday, June 7th. Gaming and Leisure Properties’s dividend payout ratio is 112.18%.

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.