Frank Rimerman Advisors LLC Sells 10,051 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Key Points

• Frank Rimerman Advisors LLC has reduced its holdings in Gaming and Leisure Properties, Inc. by 28.0%, now owning 25,844 shares after selling 10,051 shares in the first quarter.
• The company reported a missed earnings per share of $0.96, falling short of analysts' expectations, with revenues slightly increasing by 3.8% year-over-year.
• Gaming and Leisure Properties recently increased its quarterly dividend to $0.78, representing a dividend yield of 6.8% and a payout ratio of 120.93%.

Frank Rimerman Advisors LLC decreased its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 28.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,844 shares of the real estate investment trust's stock after selling 10,051 shares during the quarter. Frank Rimerman Advisors LLC's holdings in Gaming and Leisure Properties were worth $1,315,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Alpine Bank Wealth Management bought a new stake in shares of Gaming and Leisure Properties in the 1st quarter valued at approximately $26,000. TD Private Client Wealth LLC grew its stake in shares of Gaming and Leisure Properties by 64.2% in the 1st quarter. TD Private Client Wealth LLC now owns 545 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 213 shares in the last quarter. Private Trust Co. NA bought a new stake in shares of Gaming and Leisure Properties in the 1st quarter valued at approximately $28,000. Cullen Frost Bankers Inc. grew its stake in shares of Gaming and Leisure Properties by 1,872.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 651 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 618 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new stake in shares of Gaming and Leisure Properties in the 1st quarter valued at approximately $33,000. Institutional investors own 91.14% of the company's stock.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ GLPI opened at $45.91 on Friday. The business has a fifty day simple moving average of $46.88 and a 200 day simple moving average of $47.98. The company has a current ratio of 7.39, a quick ratio of 7.39 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $12.99 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 9.98 and a beta of 0.71. Gaming and Leisure Properties, Inc. has a one year low of $44.48 and a one year high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last issued its earnings results on Thursday, July 24th. The real estate investment trust reported $0.96 EPS for the quarter, missing analysts' consensus estimates of $0.97 by ($0.01). The firm had revenue of $394.90 million during the quarter, compared to analyst estimates of $397.27 million. Gaming and Leisure Properties had a net margin of 46.32% and a return on equity of 15.43%. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 earnings per share. Sell-side 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 announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were paid a $0.78 dividend. The ex-dividend date was Friday, June 13th. This is a positive change from Gaming and Leisure Properties's previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.8%. Gaming and Leisure Properties's dividend payout ratio is currently 120.93%.

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 4,000 shares of the company's stock in a transaction 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 completion of the transaction, the director directly owned 136,953 shares in the company, valued at approximately $6,379,270.74. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.26% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on GLPI. Wells Fargo & Company lowered their price target on Gaming and Leisure Properties from $51.00 to $49.00 and set an "equal weight" rating for the company in a research note on Monday, June 2nd. Macquarie decreased their target price on Gaming and Leisure Properties from $60.00 to $59.00 and set an "outperform" rating for the company in a research report on Monday, July 28th. Royal Bank Of Canada decreased their target price on Gaming and Leisure Properties from $54.00 to $53.00 and set an "outperform" rating for the company in a research report on Monday, July 28th. Scotiabank decreased their target price on Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating for the company in a research report on Monday, May 12th. Finally, Stifel Nicolaus cut Gaming and Leisure Properties from a "buy" rating to a "hold" rating and set a $51.25 target price for the company. in a research report on Monday, July 21st. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $53.16.

Gaming and Leisure Properties Company 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.

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