Kennedy Investment Group Decreases Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Kennedy Investment Group lessened its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,892 shares of the real estate investment trust’s stock after selling 396 shares during the period. Kennedy Investment Group’s holdings in Gaming and Leisure Properties were worth $972,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GLPI. Ignite Planners LLC grew its stake in shares of Gaming and Leisure Properties by 1.8% during the 2nd quarter. Ignite Planners LLC now owns 12,181 shares of the real estate investment trust’s stock valued at $543,000 after purchasing an additional 220 shares during the period. EP Wealth Advisors LLC boosted its holdings in shares of Gaming and Leisure Properties by 0.7% in the second quarter. EP Wealth Advisors LLC now owns 33,990 shares of the real estate investment trust’s stock worth $1,537,000 after buying an additional 220 shares during the last quarter. Ieq Capital LLC grew its position in Gaming and Leisure Properties by 0.3% during the second quarter. Ieq Capital LLC now owns 90,749 shares of the real estate investment trust’s stock valued at $4,103,000 after buying an additional 257 shares during the period. Marshall Financial Group LLC increased its holdings in Gaming and Leisure Properties by 1.4% during the third quarter. Marshall Financial Group LLC now owns 20,917 shares of the real estate investment trust’s stock valued at $1,076,000 after buying an additional 289 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in Gaming and Leisure Properties by 2.7% in the first quarter. Private Advisor Group LLC now owns 11,440 shares of the real estate investment trust’s stock worth $527,000 after acquiring an additional 299 shares during the period. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Price Performance

GLPI stock traded down $0.60 during mid-day trading on Monday, hitting $50.88. The company had a trading volume of 370,142 shares, compared to its average volume of 1,309,036. The company has a market capitalization of $13.81 billion, a price-to-earnings ratio of 19.00, a P/E/G ratio of 5.34 and a beta of 0.99. The company has a 50-day moving average price of $50.96 and a 200 day moving average price of $47.28. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.49. Gaming and Leisure Properties, Inc. has a 12-month low of $41.80 and a 12-month high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The firm had revenue of $380.60 million for the quarter, compared to the consensus estimate of $377.95 million. During the same period in the previous year, the company posted $0.92 earnings per share. Gaming and Leisure Properties’s quarterly revenue was up 6.7% on a year-over-year basis. On average, research analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 5.97%. The ex-dividend date of this dividend was Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio is presently 112.18%.

Insider Activity at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of Gaming and Leisure Properties stock in a transaction on Monday, August 12th. The shares were sold at an average price of $48.89, for a total value of $274,028.45. Following the completion of the transaction, the director now directly owns 156,685 shares of the company’s stock, valued at $7,660,329.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 12,973 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $52.02, for a total transaction of $674,855.46. Following the transaction, the chief financial officer now owns 108,073 shares in the company, valued at $5,621,957.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director E Scott Urdang sold 5,605 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $48.89, for a total transaction of $274,028.45. Following the completion of the sale, the director now owns 156,685 shares of the company’s stock, valued at $7,660,329.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,478 shares of company stock valued at $2,495,429 over the last 90 days. 4.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GLPI has been the subject of several analyst reports. UBS Group upped their price objective on Gaming and Leisure Properties from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Raymond James upped their price target on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Royal Bank of Canada lifted their price objective on Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Finally, Scotiabank lifted their price target on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Tuesday, July 16th. 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.18.

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.