Raymond James & Associates reduced its position in shares of Gaming and Leisure Properties (NASDAQ:GLPI) by 6.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,211 shares of the real estate investment trust’s stock after selling 6,173 shares during the period. Raymond James & Associates’ holdings in Gaming and Leisure Properties were worth $3,079,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of GLPI. Focused Wealth Management Inc acquired a new stake in shares of Gaming and Leisure Properties during the 4th quarter valued at approximately $100,000. American International Group Inc. acquired a new stake in shares of Gaming and Leisure Properties during the 4th quarter valued at approximately $160,000. Signition LP acquired a new stake in shares of Gaming and Leisure Properties during the 4th quarter valued at approximately $224,000. Stifel Financial Corp acquired a new stake in shares of Gaming and Leisure Properties during the 3rd quarter valued at approximately $249,000. Finally, MANA Advisors LLC acquired a new stake in shares of Gaming and Leisure Properties during the 4th quarter valued at approximately $263,000. 92.71% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Peter M. Carlino acquired 40,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average cost of $33.33 per share, for a total transaction of $1,333,200.00. Following the purchase, the chief executive officer now directly owns 4,388,089 shares in the company, valued at $146,255,006.37. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William J. Clifford acquired 54,606 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average price of $33.00 per share, with a total value of $1,801,998.00. Following the completion of the purchase, the chief financial officer now owns 320,674 shares in the company, valued at $10,582,242. The disclosure for this purchase can be found here. 5.88% of the stock is owned by corporate insiders.
Several research firms recently issued reports on GLPI. BidaskClub raised Gaming and Leisure Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, March 21st. Ladenburg Thalmann set a $40.00 price target on Gaming and Leisure Properties and gave the company a “buy” rating in a research report on Monday, February 12th. Morgan Stanley dropped their price target on Gaming and Leisure Properties from $40.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Friday, February 9th. Zacks Investment Research lowered Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. Finally, SunTrust Banks raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $38.13.
Shares of GLPI opened at $33.72 on Friday. The firm has a market cap of $7,181.36, a P/E ratio of 10.70 and a beta of 0.80. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.81. Gaming and Leisure Properties has a 12 month low of $32.51 and a 12 month high of $39.32.
Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.33). The company had revenue of $240.70 million for the quarter, compared to the consensus estimate of $243.27 million. Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 39.18%. Gaming and Leisure Properties’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.45 earnings per share. equities analysts forecast that Gaming and Leisure Properties will post 3.05 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Friday, March 9th were paid a dividend of $0.63 per share. The ex-dividend date was Thursday, March 8th. This represents a $2.52 dividend on an annualized basis and a yield of 7.47%. Gaming and Leisure Properties’s payout ratio is currently 80.00%.
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Gaming and Leisure Properties Profile
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.
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