Moran Wealth Management LLC Has $1.46 Million Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Moran Wealth Management LLC lowered its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,211 shares of the real estate investment trust’s stock after selling 343 shares during the quarter. Moran Wealth Management LLC’s holdings in Gaming and Leisure Properties were worth $1,455,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Gaming and Leisure Properties by 8.7% in the 4th quarter. GAMMA Investing LLC now owns 2,826 shares of the real estate investment trust’s stock valued at $136,000 after purchasing an additional 226 shares during the period. Opal Wealth Advisors LLC boosted its stake in Gaming and Leisure Properties by 4.9% in the 4th quarter. Opal Wealth Advisors LLC now owns 5,082 shares of the real estate investment trust’s stock valued at $245,000 after buying an additional 238 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in Gaming and Leisure Properties by 5.1% in the third quarter. Integrated Wealth Concepts LLC now owns 5,433 shares of the real estate investment trust’s stock valued at $280,000 after acquiring an additional 262 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Gaming and Leisure Properties by 0.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 55,881 shares of the real estate investment trust’s stock worth $2,691,000 after acquiring an additional 277 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Gaming and Leisure Properties by 3.6% during the third quarter. CIBC Asset Management Inc now owns 7,948 shares of the real estate investment trust’s stock valued at $409,000 after acquiring an additional 278 shares during the period. Institutional investors and hedge funds own 91.14% of the company’s stock.

Insiders Place Their Bets

In other Gaming and Leisure Properties news, COO Brandon John Moore sold 3,982 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $47.84, for a total value of $190,498.88. Following the completion of the sale, the chief operating officer now directly owns 278,634 shares in the company, valued at $13,329,850.56. This represents a 1.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director E Scott Urdang sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $50.89, for a total value of $254,450.00. Following the sale, the director now directly owns 140,953 shares in the company, valued at approximately $7,173,098.17. This represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,064 shares of company stock worth $2,778,908. Company insiders own 4.37% of the company’s stock.

Gaming and Leisure Properties Stock Up 0.1 %

Shares of Gaming and Leisure Properties stock opened at $50.67 on Wednesday. Gaming and Leisure Properties, Inc. has a 12 month low of $41.80 and a 12 month high of $52.60. The business has a fifty day simple moving average of $48.64 and a 200 day simple moving average of $49.81. 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 stock has a market cap of $13.93 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00.

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 (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.01. The company had revenue of $389.62 million during the quarter, compared to analyst estimates of $391.54 million. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. Research analysts predict that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 6.00%. The ex-dividend date of this dividend is Friday, March 14th. Gaming and Leisure Properties’s payout ratio is presently 105.92%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GLPI shares. 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. Wells Fargo & Company upped their price objective on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday. JPMorgan Chase & Co. raised shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $49.00 to $54.00 in a report on Friday, December 13th. Barclays reduced their target price on Gaming and Leisure Properties from $55.00 to $53.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 4th. Finally, Royal Bank of Canada dropped their price target on Gaming and Leisure Properties from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Monday, February 24th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Gaming and Leisure Properties currently has a consensus rating of “Moderate Buy” and an average target price of $53.96.

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.