Avantax Advisory Services Inc. Cuts Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Avantax Advisory Services Inc. lowered its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,510 shares of the real estate investment trust’s stock after selling 1,158 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Gaming and Leisure Properties were worth $1,277,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its position in shares of Gaming and Leisure Properties by 2,547.6% during the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 535 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Gaming and Leisure Properties during the 4th quarter worth about $31,000. CKW Financial Group increased its holdings in shares of Gaming and Leisure Properties by 75.0% in the 4th quarter. CKW Financial Group now owns 700 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 300 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Gaming and Leisure Properties during the 3rd quarter worth about $39,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Gaming and Leisure Properties during the third quarter worth approximately $66,000. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Insider Activity

In other news, COO Brandon John Moore sold 3,982 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $47.84, for a total transaction of $190,498.88. Following the transaction, the chief operating officer now directly owns 278,634 shares of the company’s stock, valued at $13,329,850.56. This represents a 1.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Matthew Demchyk sold 1,149 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $47.80, for a total transaction of $54,922.20. Following the completion of the sale, the senior vice president now owns 91,620 shares of the company’s stock, valued at $4,379,436. This trade represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,064 shares of company stock valued at $2,778,908 in the last three months. 4.37% of the stock is currently owned by company insiders.

Gaming and Leisure Properties Price Performance

Shares of NASDAQ GLPI opened at $50.57 on Wednesday. The stock has a fifty day moving average price of $48.87 and a 200 day moving average price of $49.76. Gaming and Leisure Properties, Inc. has a 1-year low of $41.80 and a 1-year high of $52.60. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35. The company has a market cap of $13.90 billion, a PE ratio of 17.62, a P/E/G ratio of 2.01 and a beta of 1.00.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 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 company had revenue of $389.62 million during the quarter, compared to analysts’ expectations of $391.54 million. Sell-side analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 6.01%. The ex-dividend date of this dividend is Friday, March 14th. Gaming and Leisure Properties’s payout ratio is 105.92%.

Analyst Ratings Changes

Several equities analysts have commented on GLPI shares. Barclays dropped their price target on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 4th. Scotiabank reduced their price target on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. Wells Fargo & Company raised their price objective on 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. Deutsche Bank Aktiengesellschaft upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and lifted their target price for the stock from $49.00 to $54.00 in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada dropped their price target on Gaming and Leisure Properties from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.96.

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.