WESPAC Advisors LLC lessened its stake in Gaming and Leisure Properties Inc (NASDAQ:GLPI) by 39.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,492 shares of the real estate investment trust’s stock after selling 10,896 shares during the quarter. WESPAC Advisors LLC’s holdings in Gaming and Leisure Properties were worth $590,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. HG Vora Capital Management LLC bought a new stake in shares of Gaming and Leisure Properties in the first quarter worth $70,287,000. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Gaming and Leisure Properties in the first quarter worth $49,376,000. Amundi Pioneer Asset Management Inc. lifted its position in shares of Gaming and Leisure Properties by 649.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 885,118 shares of the real estate investment trust’s stock worth $29,625,000 after purchasing an additional 766,982 shares in the last quarter. LSV Asset Management bought a new stake in shares of Gaming and Leisure Properties in the second quarter worth $11,821,000. Finally, Mackay Shields LLC bought a new stake in shares of Gaming and Leisure Properties in the first quarter worth $9,234,000. Institutional investors own 88.77% of the company’s stock.

In other news, Director E Scott Urdang purchased 3,000 shares of the company’s stock in a transaction on Friday, June 8th. The shares were purchased at an average cost of $35.32 per share, with a total value of $105,960.00. Following the completion of the transaction, the director now owns 62,971 shares of the company’s stock, valued at approximately $2,224,135.72. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.88% of the company’s stock.

A number of analysts have recently commented on GLPI shares. Morgan Stanley raised shares of Gaming and Leisure Properties from an “equal” rating to a “weight” rating and set a $37.00 price objective on the stock in a research report on Tuesday, July 24th. BidaskClub raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Friday, June 22nd. Credit Suisse Group started coverage on shares of Gaming and Leisure Properties in a research report on Tuesday. They issued an “outperform” rating and a $41.00 price objective on the stock. Oppenheimer started coverage on shares of Gaming and Leisure Properties in a research report on Tuesday. They issued an “outperform” rating and a $41.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Wednesday, May 2nd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.00.

NASDAQ GLPI opened at $35.44 on Friday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 2.60 and a current ratio of 2.60. Gaming and Leisure Properties Inc has a 1 year low of $32.51 and a 1 year high of $39.32. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 1.06 and a beta of 0.79.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.34). Gaming and Leisure Properties had a return on equity of 15.56% and a net margin of 38.54%. The firm had revenue of $254.22 million for the quarter, compared to the consensus estimate of $254.40 million. During the same period last year, the company posted $0.45 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year. equities research analysts anticipate that Gaming and Leisure Properties Inc will post 3.05 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Friday, September 7th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 7.11%. The ex-dividend date of this dividend is Thursday, September 6th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 80.00%.

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.

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Institutional Ownership by Quarter for Gaming and Leisure Properties (NASDAQ:GLPI)

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