Shikiar Asset Management Inc. Sells 3,882 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Shikiar Asset Management Inc. lowered its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,228 shares of the real estate investment trust’s stock after selling 3,882 shares during the quarter. Shikiar Asset Management Inc.’s holdings in Gaming and Leisure Properties were worth $2,660,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GLPI. Assetmark Inc. grew its holdings in 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 worth $29,000 after acquiring an additional 535 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Gaming and Leisure Properties by 142.2% in the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 384 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Gaming and Leisure Properties by 578.4% during the second quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 590 shares in the last quarter. Abich Financial Wealth Management LLC grew its stake in shares of Gaming and Leisure Properties by 3,191.3% during the third quarter. Abich Financial Wealth Management LLC now owns 757 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 734 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Gaming and Leisure Properties in the third quarter valued at approximately $39,000. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 6,885 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.16, for a total value of $345,351.60. Following the completion of the sale, the director now directly owns 149,800 shares in the company, valued at approximately $7,513,968. This trade represents a 4.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Matthew Demchyk sold 1,149 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $47.80, for a total value of $54,922.20. Following the completion of the sale, the senior vice president now owns 91,620 shares in the company, valued at $4,379,436. This represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,016 shares of company stock valued at $741,943. Insiders own 4.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Barclays initiated coverage on Gaming and Leisure Properties in a report on Tuesday, December 17th. They set an “equal weight” rating and a $54.53 price objective on the stock. StockNews.com lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Scotiabank decreased their price target on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating for the company in a report on Thursday. JMP Securities reiterated a “market outperform” rating and set a $55.00 target price on shares of Gaming and Leisure Properties in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. upgraded Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $49.00 to $54.00 in a report on Friday, December 13th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.93.

Gaming and Leisure Properties Trading Up 0.1 %

NASDAQ:GLPI opened at $48.05 on Friday. The company has a market cap of $13.18 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 1.86 and a beta of 0.99. Gaming and Leisure Properties, Inc. has a twelve month low of $41.80 and a twelve month high of $52.60. The business has a 50 day moving average price of $48.96 and a two-hundred day moving average price of $49.58. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced 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). Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The business had revenue of $385.34 million for the quarter, compared to analyst estimates of $385.09 million. During the same quarter in the previous year, the company posted $0.92 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, 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 business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.76 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.04 annualized dividend and a yield of 6.33%. 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.