Naviter Wealth LLC Sells 2,563 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Naviter Wealth LLC cut its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 13.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,164 shares of the real estate investment trust’s stock after selling 2,563 shares during the period. Naviter Wealth LLC’s holdings in Gaming and Leisure Properties were worth $778,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Assetmark Inc. lifted its position in shares of Gaming and Leisure Properties by 2,547.6% during the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 535 shares during the period. Stonebridge Financial Group LLC bought a new stake in Gaming and Leisure Properties in the fourth quarter valued at $31,000. Farther Finance Advisors LLC raised its holdings in shares of Gaming and Leisure Properties by 142.2% during the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 384 shares during the period. CKW Financial Group boosted its position in shares of Gaming and Leisure Properties by 75.0% during the 4th quarter. CKW Financial Group now owns 700 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 300 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Gaming and Leisure Properties in the 3rd quarter valued at about $39,000. 91.14% of the stock is owned by institutional investors and hedge funds.

Gaming and Leisure Properties Trading Up 1.2 %

NASDAQ:GLPI opened at $50.61 on Friday. Gaming and Leisure Properties, Inc. has a 52 week low of $41.80 and a 52 week high of $52.60. The firm has a 50-day moving average price of $48.53 and a two-hundred day moving average price of $49.80. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. The firm has a market cap of $13.91 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. The company had revenue of $389.62 million during the quarter, compared to the consensus estimate of $391.54 million. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. On average, equities analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.01%. The ex-dividend date of this dividend is Friday, March 14th. Gaming and Leisure Properties’s payout ratio is 105.92%.

Insider Buying and Selling

In other Gaming and Leisure Properties news, COO Brandon John Moore sold 3,982 shares of Gaming and Leisure Properties stock in a transaction dated Thursday, January 2nd. The shares were 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Matthew Demchyk sold 17,617 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $49.40, for a total transaction of $870,279.80. Following the transaction, the senior vice president now directly owns 54,140 shares of the company’s stock, valued at $2,674,516. This represents a 24.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,161 shares of company stock valued at $2,425,521. 4.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GLPI. JPMorgan Chase & Co. raised Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $49.00 to $54.00 in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and upped their target price for the stock from $49.00 to $54.00 in a research report on Wednesday, November 20th. Stifel Nicolaus lifted their price target on shares of Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Royal Bank of Canada lowered their price objective on shares of 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. Finally, Mizuho dropped their price objective on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.04.

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.