Pacer Advisors Inc. Sells 30,515 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Key Points

• Pacer Advisors Inc. reduced its stake in Gaming and Leisure Properties by 75.9%, selling 30,515 shares, and now holds 9,697 shares worth approximately $494,000.
• Gaming and Leisure Properties recently increased its quarterly dividend from $0.76 to $0.78, resulting in an annualized yield of 6.8%.
• Analysts have set a consensus price target of $53.16 for Gaming and Leisure Properties, with ratings ranging from "buy" to "hold" among various firms, indicating mixed opinions on the stock's performance.

Pacer Advisors Inc. trimmed its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 75.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,697 shares of the real estate investment trust's stock after selling 30,515 shares during the quarter. Pacer Advisors Inc.'s holdings in Gaming and Leisure Properties were worth $494,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. American Century Companies Inc. raised its position in Gaming and Leisure Properties by 3.4% in the 4th quarter. American Century Companies Inc. now owns 94,192 shares of the real estate investment trust's stock valued at $4,536,000 after buying an additional 3,141 shares during the last quarter. LPL Financial LLC grew its stake in Gaming and Leisure Properties by 30.9% in the 4th quarter. LPL Financial LLC now owns 185,861 shares of the real estate investment trust's stock valued at $8,951,000 after purchasing an additional 43,850 shares during the period. California Public Employees Retirement System grew its stake in Gaming and Leisure Properties by 5.0% in the 4th quarter. California Public Employees Retirement System now owns 866,056 shares of the real estate investment trust's stock valued at $41,709,000 after purchasing an additional 41,586 shares during the period. O Shaughnessy Asset Management LLC grew its stake in Gaming and Leisure Properties by 33.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 16,993 shares of the real estate investment trust's stock valued at $818,000 after purchasing an additional 4,218 shares during the period. Finally, Alliancebernstein L.P. grew its stake in Gaming and Leisure Properties by 0.9% in the 4th quarter. Alliancebernstein L.P. now owns 786,822 shares of the real estate investment trust's stock valued at $37,893,000 after purchasing an additional 7,300 shares during the period. 91.14% of the stock is owned by institutional investors and hedge funds.

Gaming and Leisure Properties Price Performance

NASDAQ:GLPI traded down $0.41 during mid-day trading on Tuesday, reaching $46.67. The stock had a trading volume of 416,142 shares, compared to its average volume of 1,461,477. The firm has a 50 day moving average price of $46.90 and a two-hundred day moving average price of $48.05. The stock has a market capitalization of $13.21 billion, a P/E ratio of 18.09, a P/E/G ratio of 10.03 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. The company has a debt-to-equity ratio of 1.41, a quick ratio of 7.39 and a current ratio of 7.39.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last released its earnings results on Thursday, July 24th. The real estate investment trust reported $0.96 earnings per share 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 the consensus estimate of $397.27 million. Gaming and Leisure Properties had a return on equity of 15.43% and a net margin of 46.32%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 EPS. As a group, analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current year.

Gaming and Leisure Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued 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 6.7%. The ex-dividend date was Friday, June 13th. Gaming and Leisure Properties's dividend payout ratio is currently 120.93%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GLPI shares. Mizuho reduced their price objective on Gaming and Leisure Properties from $53.00 to $48.00 and set a "neutral" rating for the company in a research note on Monday, June 16th. Stifel Nicolaus downgraded Gaming and Leisure Properties from a "buy" rating to a "hold" rating and set a $51.25 price objective for the company. in a research note on Monday, July 21st. Barclays upped their price objective on Gaming and Leisure Properties from $54.00 to $55.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Scotiabank cut their price target on Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating for the company in a research note on Monday, May 12th. Finally, Royal Bank Of Canada cut their price target on Gaming and Leisure Properties from $54.00 to $53.00 and set an "outperform" rating for the company in a research note on Monday, July 28th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Gaming and Leisure Properties has a consensus rating of "Moderate Buy" and a consensus target price of $53.16.

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 that occurred on Friday, June 13th. The stock was sold at an average price of $46.58, for a total transaction of $186,320.00. Following the completion of the transaction, the director owned 136,953 shares in the company, valued at $6,379,270.74. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.26% of the stock is currently owned by corporate insiders.

About Gaming and Leisure Properties

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.