Morse Asset Management Inc Sells 8,935 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Morse Asset Management Inc decreased its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 61.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,625 shares of the real estate investment trust’s stock after selling 8,935 shares during the period. Morse Asset Management Inc’s holdings in Gaming and Leisure Properties were worth $271,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of GLPI. Mubadala Investment Co PJSC bought a new stake in Gaming and Leisure Properties during the 4th quarter worth about $2,397,000. Millennium Management LLC lifted its position in shares of Gaming and Leisure Properties by 334.8% during the fourth quarter. Millennium Management LLC now owns 245,064 shares of the real estate investment trust’s stock worth $11,802,000 after purchasing an additional 188,702 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Gaming and Leisure Properties by 3.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 427,584 shares of the real estate investment trust’s stock valued at $20,592,000 after purchasing an additional 12,276 shares during the last quarter. Lighthouse Investment Partners LLC grew its stake in shares of Gaming and Leisure Properties by 60.0% during the fourth quarter. Lighthouse Investment Partners LLC now owns 160,000 shares of the real estate investment trust’s stock valued at $7,706,000 after purchasing an additional 60,000 shares during the last quarter. Finally, Focus Partners Wealth increased its holdings in shares of Gaming and Leisure Properties by 549.8% in the fourth quarter. Focus Partners Wealth now owns 31,381 shares of the real estate investment trust’s stock valued at $1,511,000 after purchasing an additional 26,552 shares in the last quarter. Institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Performance

Shares of Gaming and Leisure Properties stock opened at $45.98 on Wednesday. The stock’s fifty day simple moving average is $48.78 and its 200 day simple moving average is $48.99. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $12.64 billion, a PE ratio of 16.02, a PEG ratio of 2.01 and a beta of 0.81. Gaming and Leisure Properties, Inc. has a 12 month low of $42.86 and a 12 month high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. The company had revenue of $395.24 million for the quarter, compared to analyst estimates of $396.27 million. During the same quarter last year, the firm posted $0.92 earnings per share. Gaming and Leisure Properties’s revenue was up 5.1% compared to the same quarter last year. On average, research analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 6.61%. The ex-dividend date was Friday, March 14th. Gaming and Leisure Properties’s dividend payout ratio is 108.19%.

Insider Transactions at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 5,000 shares of Gaming and Leisure Properties stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $50.89, for a total value of $254,450.00. Following the sale, the director now directly owns 140,953 shares in the company, valued at $7,173,098.17. This trade represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Matthew Demchyk sold 1,138 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $50.45, for a total transaction of $57,412.10. Following the transaction, the senior vice president now owns 53,002 shares of the company’s stock, valued at $2,673,950.90. The trade was a 2.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,842 shares of company stock valued at $1,153,961 over the last quarter. Corporate insiders own 4.37% of the company’s stock.

Wall Street Analyst Weigh In

GLPI has been the topic of several research reports. Royal Bank of Canada reduced their price objective on Gaming and Leisure Properties from $56.00 to $54.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. Mizuho raised their price target on Gaming and Leisure Properties from $51.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. Scotiabank dropped their price objective on Gaming and Leisure Properties from $49.00 to $48.00 and set a “sector perform” rating for the company in a report on Monday. Wedbush set a $55.00 target price on shares of Gaming and Leisure Properties in a research note on Monday, April 28th. Finally, Barclays increased their price objective on shares of Gaming and Leisure Properties from $53.00 to $54.00 and gave the company an “equal weight” rating in a report on Tuesday, April 22nd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.63.

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.