Hedges Asset Management LLC Sells 10,000 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Hedges Asset Management LLC lessened its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 11.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,260 shares of the real estate investment trust's stock after selling 10,000 shares during the quarter. Gaming and Leisure Properties makes up approximately 2.5% of Hedges Asset Management LLC's holdings, making the stock its 7th largest holding. Hedges Asset Management LLC's holdings in Gaming and Leisure Properties were worth $3,983,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new stake in shares of Gaming and Leisure Properties during the 1st quarter worth about $26,000. Quarry LP boosted its position in Gaming and Leisure Properties by 52.5% during the fourth quarter. Quarry LP now owns 979 shares of the real estate investment trust's stock worth $47,000 after acquiring an additional 337 shares during the last quarter. Bessemer Group Inc. grew its stake in Gaming and Leisure Properties by 149.8% in the 4th quarter. Bessemer Group Inc. now owns 1,029 shares of the real estate investment trust's stock worth $49,000 after acquiring an additional 617 shares during the period. Grove Bank & Trust acquired a new position in Gaming and Leisure Properties in the 1st quarter valued at $51,000. Finally, Park Square Financial Group LLC acquired a new position in Gaming and Leisure Properties in the 4th quarter valued at $52,000. Institutional investors and hedge funds own 91.14% of the company's stock.

Gaming and Leisure Properties Stock Up 0.1%

Shares of NASDAQ GLPI opened at $46.45 on Friday. Gaming and Leisure Properties, Inc. has a 12-month low of $43.81 and a 12-month high of $52.60. The company has a market cap of $12.77 billion, a P/E ratio of 16.53, a P/E/G ratio of 3.21 and a beta of 0.72. 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 has a fifty day moving average price of $46.98 and a 200 day moving average price of $48.17.

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. The company had revenue of $395.24 million during the quarter, compared to the consensus estimate of $396.27 million. Gaming and Leisure Properties had a return on equity of 17.02% and a net margin of 50.41%. The company's revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 earnings per share. Research analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.78 per share. This is a boost 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 6.72%. The ex-dividend date of this dividend is Friday, June 13th. Gaming and Leisure Properties's payout ratio is presently 111.03%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GLPI. Barclays raised their price objective on Gaming and Leisure Properties from $53.00 to $54.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 22nd. Wedbush set a $55.00 price target on Gaming and Leisure Properties in a research note on Monday, April 28th. Wells Fargo & Company dropped their price objective on shares of 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. Scotiabank cut their price objective on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating on the stock in a report on Monday, May 12th. Finally, Mizuho lowered their target price 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. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $54.17.

Insider Activity

In related news, Director E Scott Urdang sold 4,000 shares of Gaming and Leisure Properties stock in a transaction on Friday, June 13th. The shares were sold at an average price of $46.58, for a total transaction of $186,320.00. Following the sale, the director now owns 136,953 shares of the company's stock, valued at $6,379,270.74. The trade was a 2.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.26% of the company's stock.

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.

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