Envestnet Portfolio Solutions Inc. Decreases Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Envestnet Portfolio Solutions Inc. reduced its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 35.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,774 shares of the real estate investment trust's stock after selling 8,786 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Gaming and Leisure Properties were worth $803,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its stake in Gaming and Leisure Properties by 0.8% during the 1st quarter. State of Alaska Department of Revenue now owns 308,232 shares of the real estate investment trust's stock worth $15,687,000 after buying an additional 2,467 shares during the period. Grove Bank & Trust purchased a new stake in shares of Gaming and Leisure Properties during the first quarter worth about $51,000. Signature Wealth Management Group increased its position in shares of Gaming and Leisure Properties by 2.1% during the first quarter. Signature Wealth Management Group now owns 82,998 shares of the real estate investment trust's stock worth $4,225,000 after acquiring an additional 1,735 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Gaming and Leisure Properties by 6.0% in the first quarter. QRG Capital Management Inc. now owns 161,582 shares of the real estate investment trust's stock worth $8,225,000 after acquiring an additional 9,156 shares in the last quarter. Finally, Shikiar Asset Management Inc. boosted its holdings in Gaming and Leisure Properties by 2.0% in the first quarter. Shikiar Asset Management Inc. now owns 56,328 shares of the real estate investment trust's stock valued at $2,867,000 after purchasing an additional 1,100 shares during the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director E Scott Urdang sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $46.58, for a total value of $186,320.00. Following the sale, the director now directly owns 136,953 shares in the company, valued at $6,379,270.74. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.26% of the company's stock.

Gaming and Leisure Properties Trading Down 2.0%

Shares of NASDAQ GLPI opened at $46.39 on Thursday. The company has a market cap of $12.75 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 3.28 and a beta of 0.72. Gaming and Leisure Properties, Inc. has a 12-month low of $43.44 and a 12-month high of $52.60. The company has a current ratio of 4.12, a quick ratio of 4.12 and a debt-to-equity ratio of 1.51. The stock's 50 day simple moving average is $47.04 and its 200 day simple moving average is $48.20.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last issued its earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. Gaming and Leisure Properties had a return on equity of 17.02% and a net margin of 50.41%. The firm had revenue of $395.24 million for the quarter, compared to analyst estimates of $396.27 million. During the same period last year, the company earned $0.92 earnings per share. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.78 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.12 annualized dividend and a dividend yield of 6.73%. This is a positive change from Gaming and Leisure Properties's previous quarterly dividend of $0.76. Gaming and Leisure Properties's dividend payout ratio (DPR) is presently 111.03%.

Analysts Set New Price Targets

Several research firms have issued reports on GLPI. Macquarie restated an "outperform" rating and set a $60.00 price objective on shares of Gaming and Leisure Properties in a report on Friday, April 25th. Royal Bank Of Canada cut their price target on shares of Gaming and Leisure Properties from $56.00 to $54.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Mizuho decreased their price objective on shares of Gaming and Leisure Properties from $53.00 to $48.00 and set a "neutral" rating for the company in a report on Monday, June 16th. Wedbush set a $55.00 target price on shares of Gaming and Leisure Properties in a research report on Monday, April 28th. Finally, Scotiabank cut their target price on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating on the stock in a research note on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.17.

Gaming and Leisure Properties Profile

Gaming & Leisure Properties, Inc engages in the provision of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.

Want to see what other hedge funds are holding GLPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.