Van ECK Associates Corp Sells 5,771 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Van ECK Associates Corp lowered its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 7.0% during the third quarter, HoldingsChannel reports. The firm owned 77,046 shares of the real estate investment trust’s stock after selling 5,771 shares during the quarter. Van ECK Associates Corp’s holdings in Gaming and Leisure Properties were worth $3,924,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GLPI. Ignite Planners LLC grew its holdings in Gaming and Leisure Properties by 1.8% during the second quarter. Ignite Planners LLC now owns 12,181 shares of the real estate investment trust’s stock worth $543,000 after purchasing an additional 220 shares during the period. EP Wealth Advisors LLC lifted its holdings in Gaming and Leisure Properties by 0.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 33,990 shares of the real estate investment trust’s stock valued at $1,537,000 after purchasing an additional 220 shares during the last quarter. Ieq Capital LLC boosted its position in Gaming and Leisure Properties by 0.3% during the second quarter. Ieq Capital LLC now owns 90,749 shares of the real estate investment trust’s stock worth $4,103,000 after purchasing an additional 257 shares during the period. Marshall Financial Group LLC increased its holdings in shares of Gaming and Leisure Properties by 1.4% in the third quarter. Marshall Financial Group LLC now owns 20,917 shares of the real estate investment trust’s stock valued at $1,076,000 after purchasing an additional 289 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in shares of Gaming and Leisure Properties by 2.7% in the first quarter. Private Advisor Group LLC now owns 11,440 shares of the real estate investment trust’s stock valued at $527,000 after purchasing an additional 299 shares during the period. Institutional investors and hedge funds own 91.14% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on GLPI. Stifel Nicolaus lifted their target price on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a “buy” rating in a report on Friday, July 26th. Scotiabank boosted their price objective 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. Raymond James increased their target price on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Royal Bank of Canada boosted their price target on Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Finally, StockNews.com lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Gaming and Leisure Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.18.

Insider Activity

In related news, Director E Scott Urdang sold 5,605 shares of the company’s stock in a transaction 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 in the company, valued at $7,660,329.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of Gaming and Leisure Properties stock in a transaction dated 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 owns 156,685 shares in the company, valued at $7,660,329.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Brandon John Moore sold 30,900 shares of the 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 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,363 shares of company stock worth $2,991,951. Insiders own 4.37% of the company’s stock.

Gaming and Leisure Properties Stock Up 0.8 %

GLPI stock opened at $49.77 on Friday. Gaming and Leisure Properties, Inc. has a 52 week low of $41.80 and a 52 week high of $52.60. The business has a 50-day simple moving average of $51.00 and a 200 day simple moving average of $47.98. 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 company has a market cap of $13.66 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 2.11 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued 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). The firm had revenue of $385.34 million during the quarter, compared to analyst estimates of $385.09 million. Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. Gaming and Leisure Properties’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 earnings per share. Sell-side analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date was Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio is presently 106.29%.

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.