Naviter Wealth LLC Has $872,000 Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Naviter Wealth LLC increased its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 21.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,926 shares of the real estate investment trust’s stock after buying an additional 3,389 shares during the quarter. Naviter Wealth LLC’s holdings in Gaming and Leisure Properties were worth $872,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GLPI. State of Michigan Retirement System grew its stake in shares of Gaming and Leisure Properties by 2.3% during the 1st quarter. State of Michigan Retirement System now owns 65,600 shares of the real estate investment trust’s stock worth $3,022,000 after acquiring an additional 1,500 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Gaming and Leisure Properties by 4.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,489,160 shares of the real estate investment trust’s stock worth $252,886,000 after buying an additional 211,709 shares in the last quarter. MCF Advisors LLC lifted its position in Gaming and Leisure Properties by 416.7% during the 1st quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 600 shares in the last quarter. Register Financial Advisors LLC acquired a new position in shares of Gaming and Leisure Properties during the 1st quarter worth about $122,000. Finally, Sound Income Strategies LLC grew its holdings in shares of Gaming and Leisure Properties by 13.0% in the 1st quarter. Sound Income Strategies LLC now owns 220,496 shares of the real estate investment trust’s stock valued at $10,158,000 after acquiring an additional 25,433 shares in the last quarter. Institutional investors and hedge funds own 91.14% of the company’s stock.

Gaming and Leisure Properties Trading Down 0.5 %

Shares of GLPI stock opened at $43.90 on Wednesday. The company has a quick ratio of 6.47, a current ratio of 6.47 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $11.92 billion, a P/E ratio of 16.20, a P/E/G ratio of 5.32 and a beta of 0.98. Gaming and Leisure Properties, Inc. has a twelve month low of $41.80 and a twelve month high of $50.06. The stock’s fifty day simple moving average is $44.26 and its 200 day simple moving average is $45.36.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). Gaming and Leisure Properties had a net margin of 50.05% and a return on equity of 16.79%. The business had revenue of $376.00 million during the quarter, compared to the consensus estimate of $368.44 million. During the same quarter last year, the business earned $0.92 EPS. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, sell-side analysts predict that Gaming and Leisure Properties, Inc. will post 3.65 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, June 21st. Shareholders of record on Friday, June 7th were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 6.92%. The ex-dividend date was Friday, June 7th. Gaming and Leisure Properties’s payout ratio is presently 112.18%.

Wall Street Analyst Weigh In

Several brokerages recently commented on GLPI. Mizuho reduced their price target on Gaming and Leisure Properties from $47.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Morgan Stanley reiterated an “overweight” rating and issued a $53.00 price target on shares of Gaming and Leisure Properties in a research note on Friday, June 21st. Wells Fargo & Company lowered their price objective on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. StockNews.com upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Wedbush reaffirmed an “outperform” rating and set a $51.00 price objective on shares of Gaming and Leisure Properties in a research report on Friday, May 17th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.33.

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.