Naviter Wealth LLC Sells 2,563 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Naviter Wealth LLC reduced its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 13.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,164 shares of the real estate investment trust’s stock after selling 2,563 shares during the quarter. Naviter Wealth LLC’s holdings in Gaming and Leisure Properties were worth $778,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in Gaming and Leisure Properties by 142.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 384 shares during the period. Assetmark Inc. lifted its holdings in shares of Gaming and Leisure Properties by 2,547.6% in the third quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 535 shares in the last quarter. Atria Investments Inc boosted its position in shares of Gaming and Leisure Properties by 16.0% in the third quarter. Atria Investments Inc now owns 19,668 shares of the real estate investment trust’s stock valued at $1,012,000 after acquiring an additional 2,710 shares during the period. Mesirow Financial Investment Management Inc. purchased a new position in Gaming and Leisure Properties during the third quarter valued at approximately $217,000. Finally, Los Angeles Capital Management LLC bought a new stake in Gaming and Leisure Properties during the 3rd quarter worth approximately $3,215,000. 91.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Stifel Nicolaus boosted their price target on shares of Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Barclays reduced their target price on Gaming and Leisure Properties from $55.00 to $53.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 4th. Morgan Stanley cut Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price target on the stock. in a report on Wednesday, January 15th. JMP Securities reiterated a “market outperform” rating and set a $55.00 price target on shares of Gaming and Leisure Properties in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada decreased their price objective on shares of Gaming and Leisure Properties from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. Six 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, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and an average price target of $54.04.

Gaming and Leisure Properties Price Performance

Shares of Gaming and Leisure Properties stock opened at $50.61 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. Gaming and Leisure Properties, Inc. has a 52-week low of $41.80 and a 52-week high of $52.60. The company has a fifty day moving average of $48.53 and a 200-day moving average of $49.80. The stock has a market capitalization of $13.91 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00.

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

Gaming and Leisure Properties Announces Dividend

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

Insider Buying and Selling at Gaming and Leisure Properties

In other news, COO Brandon John Moore sold 3,982 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $47.84, for a total transaction 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 approximately $13,329,850.56. This represents a 1.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Matthew Demchyk sold 1,138 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $50.45, for a total transaction of $57,412.10. Following the sale, the senior vice president now owns 53,002 shares of the company’s stock, valued at approximately $2,673,950.90. This represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,161 shares of company stock worth $2,425,521. 4.37% of the stock is currently owned by insiders.

About Gaming and Leisure Properties

Gaming & Leisure Properties, Inc engages in 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.