Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Director E Scott Urdang Sells 3,000 Shares

Key Points

• Director E Scott Urdang of Gaming and Leisure Properties, Inc. sold 3,000 shares for $139,620, reducing his position by 2.19% to a total of 133,953 shares valued at approximately $6.23 million.
• The company's recent quarterly earnings reported an EPS of $0.96, slightly missing analysts' expectations, alongside a revenue of $394.9 million, which was also below forecasts.
• Gaming and Leisure Properties declared an increased quarterly dividend of $0.78 per share, reflecting a 6.7% yield and a payout ratio of 120.93%.

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Get Free Report) Director E Scott Urdang sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $46.54, for a total transaction of $139,620.00. Following the sale, the director directly owned 133,953 shares of the company's stock, valued at approximately $6,234,172.62. This trade represents a 2.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

E Scott Urdang also recently made the following trade(s):

• On Friday, June 13th, E Scott Urdang sold 4,000 shares of Gaming and Leisure Properties stock. The shares were sold at an average price of $46.58, for a total transaction of $186,320.00.

Gaming and Leisure Properties Trading Down 0.4%

Shares of NASDAQ:GLPI traded down $0.20 on Friday, hitting $45.91. 971,992 shares of the company's stock were exchanged, compared to its average volume of 1,801,311. Gaming and Leisure Properties, Inc. has a 12 month low of $44.48 and a 12 month high of $52.60. The stock has a market capitalization of $12.99 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 9.98 and a beta of 0.71. The business's 50 day simple moving average is $46.88 and its two-hundred day simple moving average is $47.99. The company has a debt-to-equity ratio of 1.41, a current ratio of 7.39 and a quick 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 the consensus estimate of $0.97 by ($0.01). The business had revenue of $394.90 million for 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 firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 earnings per share. 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 disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $0.78 dividend. The ex-dividend date was Friday, June 13th. This is an increase from Gaming and Leisure Properties's previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a dividend yield of 6.8%. Gaming and Leisure Properties's dividend payout ratio is presently 120.93%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Mizuho cut 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. Scotiabank cut their target price on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating for the company in a report on Monday, May 12th. Barclays raised their target price on shares of Gaming and Leisure Properties from $54.00 to $55.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. Stifel Nicolaus downgraded Gaming and Leisure Properties from a "buy" rating to a "hold" rating and set a $51.25 price target for the company. in a research report on Monday, July 21st. Finally, Macquarie lowered their price target 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. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $53.16.

Institutional Trading of Gaming and Leisure Properties

Institutional investors and hedge funds have recently 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 first quarter valued at about $26,000. Private Trust Co. NA bought a new stake in shares of Gaming and Leisure Properties in the first quarter valued at about $28,000. TD Private Client Wealth LLC raised its holdings in shares of Gaming and Leisure Properties by 64.2% in the first quarter. TD Private Client Wealth LLC now owns 545 shares of the real estate investment trust's stock valued at $28,000 after acquiring an additional 213 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Gaming and Leisure Properties in the second quarter worth about $30,000. Finally, REAP Financial Group LLC raised its holdings in Gaming and Leisure Properties by 66.0% in the second quarter. REAP Financial Group LLC now owns 664 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 264 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors.

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.