Applied Fundamental Research LLC Reduces Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Applied Fundamental Research LLC cut its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 326,713 shares of the real estate investment trust’s stock after selling 1,997 shares during the period. Gaming and Leisure Properties comprises 12.3% of Applied Fundamental Research LLC’s portfolio, making the stock its 2nd biggest position. Applied Fundamental Research LLC owned 0.12% of Gaming and Leisure Properties worth $15,734,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Assetmark Inc. raised its holdings in shares of Gaming and Leisure Properties by 2,547.6% in the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 535 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in Gaming and Leisure Properties in the fourth quarter worth approximately $31,000. CKW Financial Group lifted its holdings in Gaming and Leisure Properties by 75.0% during the fourth 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. Brooklyn Investment Group bought a new stake in Gaming and Leisure Properties during the 3rd quarter valued at $39,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Gaming and Leisure Properties in the 3rd quarter valued at $66,000. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Stock Performance

GLPI opened at $49.78 on Monday. The firm has a 50 day moving average of $48.75 and a two-hundred day moving average of $49.78. The firm has a market capitalization of $13.68 billion, a PE ratio of 17.35, a P/E/G ratio of 2.01 and a beta of 1.00. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. Gaming and Leisure Properties, Inc. has a 12-month low of $41.80 and a 12-month high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.01. Gaming and Leisure Properties had a net margin of 51.65% and a return on equity of 17.41%. The firm had revenue of $389.62 million during the quarter, compared to analysts’ expectations of $391.54 million. On average, analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 6.11%. The ex-dividend date of this dividend is Friday, March 14th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 105.92%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Barclays dropped their price objective on Gaming and Leisure Properties from $55.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 4th. Stifel Nicolaus lifted their price objective on shares of Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Royal Bank of Canada decreased their target price on shares of Gaming and Leisure Properties from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. Wells Fargo & Company lifted their price target on shares of Gaming and Leisure Properties from $50.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and increased their price objective for the company from $49.00 to $54.00 in a report on Wednesday, November 20th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Gaming and Leisure Properties has an average rating of “Moderate Buy” and an average target price of $53.96.

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 5,000 shares of Gaming and Leisure Properties stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $49.72, for a total value of $248,600.00. Following the completion of the transaction, the director now owns 145,953 shares in the company, valued at $7,256,783.16. The trade was a 3.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brandon John Moore sold 3,982 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $47.84, for a total value of $190,498.88. Following the completion of the transaction, the chief operating officer now directly owns 278,634 shares of the company’s stock, valued at $13,329,850.56. The trade was a 1.41 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,064 shares of company stock worth $2,778,908. 4.37% of the stock is owned by corporate insiders.

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.