EWG Elevate Inc. Reduces Stock Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

EWG Elevate Inc. lessened its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 37.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,446 shares of the real estate investment trust’s stock after selling 11,023 shares during the quarter. EWG Elevate Inc.’s holdings in Gaming and Leisure Properties were worth $834,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GLPI. Ignite Planners LLC grew its holdings in Gaming and Leisure Properties by 1.8% in the 2nd quarter. Ignite Planners LLC now owns 12,181 shares of the real estate investment trust’s stock valued at $543,000 after buying an additional 220 shares during the period. Moody National Bank Trust Division grew its holdings in Gaming and Leisure Properties by 1.2% in the 1st quarter. Moody National Bank Trust Division now owns 19,068 shares of the real estate investment trust’s stock valued at $878,000 after buying an additional 231 shares during the period. Securian Asset Management Inc. grew its holdings in Gaming and Leisure Properties by 1.3% in the 4th quarter. Securian Asset Management Inc. now owns 22,534 shares of the real estate investment trust’s stock valued at $1,112,000 after buying an additional 289 shares during the period. Private Advisor Group LLC grew its holdings in Gaming and Leisure Properties by 2.7% in the 1st quarter. Private Advisor Group LLC now owns 11,440 shares of the real estate investment trust’s stock valued at $527,000 after buying an additional 299 shares during the period. Finally, Corient Private Wealth LLC grew its holdings in Gaming and Leisure Properties by 1.9% in the 4th quarter. Corient Private Wealth LLC now owns 17,844 shares of the real estate investment trust’s stock valued at $881,000 after buying an additional 327 shares during the period. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Analysts Set New Price Targets

GLPI has been the subject of several recent analyst reports. UBS Group lifted their price target on Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Mizuho decreased their target price on Gaming and Leisure Properties from $47.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Wedbush reiterated an “outperform” rating and set a $51.00 target price on shares of Gaming and Leisure Properties in a report on Friday, May 17th. JMP Securities boosted their target price on Gaming and Leisure Properties from $53.00 to $55.00 and gave the stock a “market outperform” rating in a report on Monday. Finally, StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Friday, July 19th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.38.

Insiders Place Their Bets

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $48.89, for a total transaction of $274,028.45. Following the transaction, the director now owns 156,685 shares of the company’s stock, valued at approximately $7,660,329.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. 4.40% of the stock is currently owned by company insiders.

Gaming and Leisure Properties Stock Down 0.1 %

GLPI traded down $0.04 during trading on Tuesday, hitting $49.10. The company had a trading volume of 684,360 shares, compared to its average volume of 1,349,872. Gaming and Leisure Properties, Inc. has a 1-year low of $41.80 and a 1-year high of $50.74. The company has a debt-to-equity ratio of 1.49, a current ratio of 5.91 and a quick ratio of 5.91. The company has a market cap of $13.33 billion, a PE ratio of 18.12, a P/E/G ratio of 5.14 and a beta of 0.98. The business has a 50-day moving average of $46.50 and a 200-day moving average of $45.42.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). The company had revenue of $380.60 million during the quarter, compared to analyst estimates of $377.95 million. Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 EPS. As a group, analysts forecast that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current year.

Gaming and Leisure Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date was Friday, June 7th. Gaming and Leisure Properties’s dividend payout ratio is presently 112.18%.

About Gaming and Leisure Properties

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.