Morse Asset Management Inc Has $271,000 Stock Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Morse Asset Management Inc cut its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 61.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,625 shares of the real estate investment trust's stock after selling 8,935 shares during the quarter. Morse Asset Management Inc's holdings in Gaming and Leisure Properties were worth $271,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new position in shares of Gaming and Leisure Properties in the 4th quarter valued at $31,000. CKW Financial Group increased its stake in Gaming and Leisure Properties by 75.0% during the 4th quarter. CKW Financial Group now owns 700 shares of the real estate investment trust's stock worth $34,000 after buying an additional 300 shares during the period. Quarry LP increased its stake in Gaming and Leisure Properties by 52.5% during the 4th quarter. Quarry LP now owns 979 shares of the real estate investment trust's stock worth $47,000 after buying an additional 337 shares during the period. Bessemer Group Inc. increased its stake in Gaming and Leisure Properties by 149.8% during the 4th quarter. Bessemer Group Inc. now owns 1,029 shares of the real estate investment trust's stock worth $49,000 after buying an additional 617 shares during the period. Finally, Parvin Asset Management LLC bought a new stake in shares of Gaming and Leisure Properties in the 4th quarter worth about $53,000. Institutional investors and hedge funds own 91.14% of the company's stock.

Gaming and Leisure Properties Trading Up 1.5%

Shares of GLPI stock traded up $0.72 during trading hours on Friday, reaching $47.61. 2,115,409 shares of the stock traded hands, compared to its average volume of 1,291,283. The firm has a market capitalization of $13.08 billion, a PE ratio of 16.59, a PEG ratio of 2.01 and a beta of 0.81. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. The business has a fifty day moving average price of $48.55 and a 200 day moving average price of $48.93. Gaming and Leisure Properties, Inc. has a 1-year low of $42.86 and a 1-year high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. The firm had revenue of $395.24 million for the quarter, compared to analyst estimates of $396.27 million. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 EPS. On average, equities research analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 6.55%. This is an increase from Gaming and Leisure Properties's previous quarterly dividend of $0.76. Gaming and Leisure Properties's payout ratio is currently 108.19%.

Insiders Place Their Bets

In related news, Director E Scott Urdang sold 5,000 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $50.89, for a total transaction of $254,450.00. Following the completion of the sale, the director now directly owns 140,953 shares of the company's stock, valued at approximately $7,173,098.17. This represents a 3.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Matthew Demchyk sold 1,138 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $50.45, for a total transaction of $57,412.10. Following the completion of the sale, the senior vice president now directly owns 53,002 shares of the company's stock, valued at approximately $2,673,950.90. This trade represents a 2.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,842 shares of company stock valued at $1,153,961 over the last ninety days. Corporate insiders own 4.26% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on GLPI. Scotiabank dropped 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 research report on Monday, May 12th. Mizuho boosted their target price on shares of Gaming and Leisure Properties from $51.00 to $53.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Wells Fargo & Company boosted their target price on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. Wedbush set a $55.00 price target on shares of Gaming and Leisure Properties in a research note on Monday, April 28th. Finally, Royal Bank of Canada dropped their target price 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. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Gaming and Leisure Properties presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.63.

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.