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

Raleigh Capital Management Inc. cut its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 5.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 7,817 shares of the real estate investment trust’s stock after selling 457 shares during the period. Raleigh Capital Management Inc.’s holdings in Gaming and Leisure Properties were worth $376,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Assetmark Inc. grew its holdings 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 valued at $29,000 after purchasing an additional 535 shares during the period. Farther Finance Advisors LLC lifted its position 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 buying an additional 384 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in 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 valued at $35,000 after acquiring an additional 590 shares during the period. Abich Financial Wealth Management LLC increased its holdings in Gaming and Leisure Properties by 3,191.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 757 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 734 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in Gaming and Leisure Properties during the third quarter worth $39,000. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Performance

NASDAQ:GLPI opened at $48.13 on Thursday. Gaming and Leisure Properties, Inc. has a 52 week low of $41.80 and a 52 week high of $52.60. The company has a fifty day simple moving average of $48.91 and a two-hundred day simple moving average of $49.71. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. The company has a market cap of $13.21 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 2.00 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.25). The company had revenue of $385.34 million for the quarter, compared to analyst estimates of $385.09 million. Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 earnings per share. As a group, equities analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.76 dividend. The ex-dividend date was Friday, December 6th. This represents a $3.04 dividend on an annualized basis and a yield of 6.32%. Gaming and Leisure Properties’s dividend payout ratio is currently 106.29%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GLPI shares. JMP Securities reissued a “market outperform” rating and set a $55.00 target price on shares of Gaming and Leisure Properties in a research note on Wednesday, December 18th. Stifel Nicolaus boosted their price objective on Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. raised Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and increased their target price for the company from $49.00 to $54.00 in a report on Friday, December 13th. Morgan Stanley lowered Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price target on the stock. in a research note on Wednesday, January 15th. Finally, Mizuho reduced their price objective on 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. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Gaming and Leisure Properties has a consensus rating of “Moderate Buy” and an average price target of $53.93.

Insiders Place Their Bets

In other news, SVP Matthew Demchyk sold 10,474 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $48.62, for a total value of $509,245.88. Following the transaction, the senior vice president now owns 71,757 shares in the company, valued at approximately $3,488,825.34. This represents a 12.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Brandon John Moore sold 3,982 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $47.84, for a total value of $190,498.88. Following the sale, the chief operating officer now owns 278,634 shares of the company’s stock, valued at approximately $13,329,850.56. The trade was a 1.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,490 shares of company stock worth $1,251,189 in the last 90 days. Corporate insiders own 4.37% of the company’s stock.

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.