Bamco Inc. NY Cuts Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Bamco Inc. NY lessened its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 1.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,107,784 shares of the real estate investment trust’s stock after selling 140,813 shares during the quarter. Gaming and Leisure Properties makes up about 1.1% of Bamco Inc. NY’s investment portfolio, making the stock its 18th largest position. Bamco Inc. NY’s holdings in Gaming and Leisure Properties were worth $417,145,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GLPI. Assetmark Inc. increased its holdings in Gaming and Leisure Properties by 2,547.6% in the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 535 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Gaming and Leisure Properties during the second quarter valued at about $31,000. EdgeRock Capital LLC purchased a new position in shares of Gaming and Leisure Properties during the second quarter valued at about $33,000. Versant Capital Management Inc increased its holdings in shares of Gaming and Leisure Properties by 18,500.0% in the second quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 740 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Gaming and Leisure Properties by 142.2% in the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 384 shares in the last quarter. Institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ:GLPI opened at $51.61 on Monday. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62. Gaming and Leisure Properties, Inc. has a 12 month low of $41.80 and a 12 month high of $52.60. The company has a market capitalization of $14.16 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 2.19 and a beta of 0.99. The firm’s 50-day moving average is $50.59 and its 200 day moving average is $48.68.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The business had revenue of $385.34 million for the quarter, compared to the consensus estimate of $385.09 million. During the same period in the prior year, the company posted $0.92 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Research analysts predict that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.04 dividend on an annualized basis and a yield of 5.89%. Gaming and Leisure Properties’s payout ratio is 106.29%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GLPI. Stifel Nicolaus raised their price target on Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a “buy” rating in a report on Tuesday, November 26th. Wolfe Research raised shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 target price for the company in a report on Friday, August 23rd. Mizuho decreased their price target on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. StockNews.com lowered shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, JMP Securities restated a “market outperform” rating and issued a $55.00 target price on shares of Gaming and Leisure Properties in a report on Tuesday, October 29th. Six equities 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.32.

Insider Transactions at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 3,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $50.39, for a total value of $151,170.00. Following the transaction, the director now directly owns 146,800 shares in the company, valued at $7,397,252. This represents a 2.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.37% of the company’s stock.

About Gaming and Leisure Properties

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.