Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Stake Cut by Amalgamated Bank

Amalgamated Bank lessened its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 5.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,827 shares of the real estate investment trust’s stock after selling 8,475 shares during the quarter. Amalgamated Bank’s holdings in Gaming and Leisure Properties were worth $6,186,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GLPI. Quadrant Capital Group LLC grew its position in shares of Gaming and Leisure Properties by 49.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,620 shares of the real estate investment trust’s stock valued at $129,000 after buying an additional 867 shares during the last quarter. Financial Advocates Investment Management bought a new stake in Gaming and Leisure Properties in the fourth quarter valued at $222,000. Norges Bank acquired a new position in Gaming and Leisure Properties during the 4th quarter valued at about $141,537,000. PNC Financial Services Group Inc. boosted its position in shares of Gaming and Leisure Properties by 12.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 14,843 shares of the real estate investment trust’s stock worth $733,000 after buying an additional 1,605 shares during the period. Finally, Wells Fargo & Company MN boosted its position in Gaming and Leisure Properties by 2.9% during the 4th quarter. Wells Fargo & Company MN now owns 224,799 shares of the real estate investment trust’s stock worth $11,094,000 after acquiring an additional 6,351 shares during the period. Institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Price Performance

GLPI opened at $50.85 on Friday. The firm has a market capitalization of $13.81 billion, a P/E ratio of 18.76, a PEG ratio of 5.47 and a beta of 0.99. The stock has a fifty day moving average of $50.06 and a 200-day moving average of $46.46. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.49. Gaming and Leisure Properties, Inc. has a 12-month low of $41.80 and a 12-month high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data 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 return on equity of 17.60% and a net margin of 52.79%. The business had revenue of $380.60 million during the quarter, compared to analysts’ expectations of $377.95 million. During the same period in the prior year, the company posted $0.92 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. Equities analysts forecast that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date is Friday, September 13th. Gaming and Leisure Properties’s payout ratio is presently 112.18%.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of Gaming and Leisure Properties stock in a transaction on Monday, August 12th. The shares were 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 owns 156,685 shares of the company’s stock, valued at approximately $7,660,329.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other 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 transaction of $274,028.45. Following the completion of the sale, the director now directly owns 156,685 shares in the company, valued at approximately $7,660,329.65. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Desiree A. Burke sold 12,973 shares of the business’s 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 completion of 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 49,478 shares of company stock worth $2,495,429. 4.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Scotiabank raised their target price on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 16th. Stifel Nicolaus increased their price target on Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a “buy” rating in a research note on Friday, July 26th. Raymond James boosted their price objective 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. JMP Securities raised their target price on Gaming and Leisure Properties from $53.00 to $55.00 and gave the company a “market outperform” rating in a research note on Monday, August 12th. Finally, StockNews.com upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.11.

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.