Envestnet Asset Management Inc. Has $25.13 Million Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Envestnet Asset Management Inc. trimmed its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 1.9% in the second quarter, HoldingsChannel.com reports. The firm owned 555,864 shares of the real estate investment trust’s stock after selling 10,775 shares during the period. Envestnet Asset Management Inc.’s holdings in Gaming and Leisure Properties were worth $25,131,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of GLPI. Ashton Thomas Private Wealth LLC acquired a new position in shares of Gaming and Leisure Properties in the second quarter valued at $31,000. EdgeRock Capital LLC acquired a new position in shares of Gaming and Leisure Properties in the second quarter valued at $33,000. MCF Advisors LLC raised its stake in shares of Gaming and Leisure Properties by 416.7% in the first quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 600 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Gaming and Leisure Properties by 18,500.0% in the second quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 740 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in shares of Gaming and Leisure Properties in the first quarter valued at $42,000. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 5,605 shares of Gaming and Leisure Properties stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $48.89, for a total transaction of $274,028.45. Following the completion of the sale, the director now directly owns 156,685 shares of the company’s stock, valued at approximately $7,660,329.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, COO Brandon John Moore sold 30,900 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the sale, the chief operating officer now owns 208,977 shares in the company, valued at approximately $10,459,298.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director E Scott Urdang sold 5,605 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the transaction, the director now directly owns 156,685 shares in the company, valued at $7,660,329.65. The disclosure for this sale can be found here. In the last three months, insiders sold 49,478 shares of company stock worth $2,495,429. 4.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. UBS Group upped their price target on Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Raymond James upped their price target on Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Wolfe Research upgraded Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research report on Friday, August 23rd. JMP Securities increased their target price on Gaming and Leisure Properties from $53.00 to $55.00 and gave the stock a “market outperform” rating in a report on Monday, August 12th. Finally, Scotiabank increased their target price on Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 16th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Gaming and Leisure Properties has a consensus rating of “Moderate Buy” and an average price target of $52.11.

Gaming and Leisure Properties Trading Up 0.1 %

NASDAQ:GLPI opened at $50.90 on Friday. Gaming and Leisure Properties, Inc. has a 1-year low of $41.80 and a 1-year high of $52.60. The business’s 50-day moving average price is $50.20 and its two-hundred day moving average price is $46.53. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $13.82 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 5.47 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.15). The company had revenue of $380.60 million during the quarter, compared to analyst estimates of $377.95 million. Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 EPS. On average, equities analysts expect that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.76 per share. The ex-dividend date is Friday, September 13th. This represents a $3.04 annualized dividend and a dividend yield of 5.97%. Gaming and Leisure Properties’s dividend payout ratio is currently 112.18%.

Gaming and Leisure Properties Profile

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.