Cornercap Investment Counsel Inc. Sells 8,136 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Cornercap Investment Counsel Inc. trimmed its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 36.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,963 shares of the real estate investment trust’s stock after selling 8,136 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Gaming and Leisure Properties were worth $718,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GLPI. Assetmark Inc. boosted its holdings in Gaming and Leisure Properties by 2,547.6% during 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 period. Farther Finance Advisors LLC boosted its stake in shares of Gaming and Leisure Properties by 142.2% during the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 384 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Gaming and Leisure Properties in the second quarter worth approximately $31,000. EverSource Wealth Advisors LLC increased its stake in shares of Gaming and Leisure Properties by 578.4% in the second quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 590 shares during the period. Finally, EdgeRock Capital LLC bought a new stake in Gaming and Leisure Properties during the 2nd quarter valued at $33,000. 91.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on GLPI shares. Raymond James upped their price objective on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Mizuho dropped their price objective on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday. StockNews.com cut Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft raised their price target on Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada boosted their price target on shares of 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. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $52.54.

Gaming and Leisure Properties Stock Up 1.0 %

NASDAQ:GLPI opened at $49.19 on Friday. The firm has a 50-day simple moving average of $50.74 and a two-hundred day simple moving average of $48.15. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.80 and a fifty-two week high of $52.60. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. The firm has a market cap of $13.50 billion, a P/E ratio of 17.20, a P/E/G ratio of 2.11 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $385.09 million. During the same period last year, the business earned $0.92 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts predict that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.76 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.04 annualized dividend and a yield of 6.18%. Gaming and Leisure Properties’s payout ratio is 106.29%.

Insider Buying and Selling

In related news, Director E Scott Urdang sold 6,885 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.16, for a total transaction of $345,351.60. Following the completion of the transaction, the director now directly owns 149,800 shares in the company, valued at approximately $7,513,968. The trade was a 4.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Desiree A. Burke sold 12,973 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $52.02, for a total transaction of $674,855.46. Following the sale, the chief financial officer now owns 108,073 shares in the company, valued at approximately $5,621,957.46. The trade was a 10.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,758 shares of company stock valued at $2,717,922. 4.37% of the stock is owned by insiders.

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.