Short Interest in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Declines By 8.4%

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totalling 4,480,000 shares, a decrease of 8.4% from the August 31st total of 4,890,000 shares. Based on an average daily volume of 1,320,000 shares, the days-to-cover ratio is presently 3.4 days.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ GLPI traded down $0.31 during midday trading on Tuesday, hitting $51.14. 1,173,191 shares of the company’s stock were exchanged, compared to its average volume of 1,331,315. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $13.88 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 5.36 and a beta of 0.99. Gaming and Leisure Properties has a 12 month low of $41.80 and a 12 month high of $52.60. The company’s 50 day moving average price is $50.47 and its 200 day moving average price is $46.74.

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

Gaming and Leisure Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.76 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.04 dividend on an annualized basis and a yield of 5.94%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 112.18%.

Wall Street Analysts Forecast Growth

GLPI has been the topic of several research reports. Wolfe Research upgraded Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research note on Friday, August 23rd. Scotiabank increased their target price on shares of 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. StockNews.com upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Friday, July 19th. JMP Securities increased their price objective on shares of Gaming and Leisure Properties from $53.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Gaming and Leisure Properties has an average rating of “Moderate Buy” and an average target price of $52.18.

Insider Buying and Selling

In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 12,973 shares of Gaming and Leisure Properties stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $52.02, for a total value of $674,855.46. Following the transaction, the chief financial officer now owns 108,073 shares of the company’s stock, valued at $5,621,957.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Desiree A. Burke sold 12,973 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $52.02, for a total value of $674,855.46. Following the sale, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brandon John Moore sold 30,900 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief operating officer now directly owns 208,977 shares of the company’s stock, valued at $10,459,298.85. The disclosure for this sale can be found here. In the last three months, insiders sold 49,478 shares of company stock valued at $2,495,429. 4.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Gaming and Leisure Properties

Hedge funds have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC bought a new position in shares of Gaming and Leisure Properties during the second quarter worth approximately $31,000. EdgeRock Capital LLC acquired a new position in Gaming and Leisure Properties in the 2nd quarter valued at $33,000. MCF Advisors LLC increased 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 during the period. Versant Capital Management Inc lifted its holdings in shares of Gaming and Leisure Properties by 18,500.0% during the second quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 740 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Gaming and Leisure Properties by 578.4% in the second quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 590 shares during the period. 91.14% of the stock is currently owned by institutional investors and hedge funds.

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.