Exchange Traded Concepts LLC Cuts Stock Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Exchange Traded Concepts LLC lowered its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 3.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,468 shares of the real estate investment trust’s stock after selling 1,689 shares during the period. Exchange Traded Concepts LLC’s holdings in Gaming and Leisure Properties were worth $2,162,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in Gaming and Leisure Properties by 1.3% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,260,459 shares of the real estate investment trust’s stock valued at $64,157,000 after acquiring an additional 16,403 shares during the period. Sound Income Strategies LLC lifted its stake in shares of Gaming and Leisure Properties by 8.5% in the 1st quarter. Sound Income Strategies LLC now owns 323,526 shares of the real estate investment trust’s stock valued at $16,467,000 after purchasing an additional 25,429 shares during the period. Ritholtz Wealth Management acquired a new position in shares of Gaming and Leisure Properties in the 1st quarter valued at $214,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Gaming and Leisure Properties by 44.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,770 shares of the real estate investment trust’s stock valued at $904,000 after purchasing an additional 5,440 shares during the period. Finally, Marshall Financial Group LLC lifted its stake in shares of Gaming and Leisure Properties by 6.1% in the 1st quarter. Marshall Financial Group LLC now owns 22,725 shares of the real estate investment trust’s stock valued at $1,157,000 after purchasing an additional 1,297 shares during the period. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Mizuho decreased their target price on shares of Gaming and Leisure Properties from $53.00 to $48.00 and set a “neutral” rating for the company in a research note on Monday. Macquarie restated an “outperform” rating and set a $60.00 price objective on shares of Gaming and Leisure Properties in a research report on Friday, April 25th. Royal Bank Of Canada reduced their price objective on shares of Gaming and Leisure Properties from $56.00 to $54.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. Wedbush set a $55.00 price objective on shares of Gaming and Leisure Properties in a research report on Monday, April 28th. Finally, Barclays upped their price objective on shares of Gaming and Leisure Properties from $53.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $54.17.

Insider Activity

In other news, Director E Scott Urdang sold 4,000 shares of the business’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $46.58, for a total transaction of $186,320.00. Following the completion of the sale, the director now owns 136,953 shares in the company, valued at approximately $6,379,270.74. The trade was a 2.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.26% of the company’s stock.

Gaming and Leisure Properties Trading Up 0.4%

NASDAQ:GLPI opened at $46.10 on Wednesday. The company has a market capitalization of $12.67 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 3.18 and a beta of 0.72. The company has a quick ratio of 4.12, a current ratio of 4.12 and a debt-to-equity ratio of 1.51. Gaming and Leisure Properties, Inc. has a 52-week low of $43.44 and a 52-week high of $52.60. The stock has a fifty day simple moving average of $47.21 and a 200-day simple moving average of $48.36.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. Gaming and Leisure Properties had a net margin of 50.41% and a return on equity of 17.02%. The firm had revenue of $395.24 million during the quarter, compared to the consensus estimate of $396.27 million. During the same quarter in the previous year, the company posted $0.92 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, June 13th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.77%. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.76. Gaming and Leisure Properties’s dividend payout ratio is currently 111.03%.

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.