Naviter Wealth LLC Has $899,000 Stock Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Naviter Wealth LLC lifted its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 5.0% during the 2nd quarter, Holdings Channel reports. The firm owned 19,880 shares of the real estate investment trust’s stock after buying an additional 954 shares during the quarter. Naviter Wealth LLC’s holdings in Gaming and Leisure Properties were worth $899,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. EdgeRock Capital LLC acquired a new stake in shares of Gaming and Leisure Properties during the second quarter worth approximately $33,000. MCF Advisors LLC increased its holdings in Gaming and Leisure Properties by 416.7% during the 1st quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 600 shares in the last quarter. Versant Capital Management Inc raised its position in Gaming and Leisure Properties by 18,500.0% in the 2nd quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 740 shares during the last quarter. Mather Group LLC. bought a new position in Gaming and Leisure Properties in the 1st quarter valued at $42,000. Finally, International Assets Investment Management LLC acquired a new position in Gaming and Leisure Properties in the second quarter worth $47,000. Institutional investors and hedge funds own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ:GLPI opened at $51.60 on Wednesday. The company has a market capitalization of $14.01 billion, a price-to-earnings ratio of 19.04, a P/E/G ratio of 5.45 and a beta of 0.98. The firm’s 50 day simple moving average is $48.47 and its 200 day simple moving average is $45.96. The company has a debt-to-equity ratio of 1.49, a current ratio of 5.91 and a quick ratio of 5.91. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.80 and a fifty-two week high of $52.31.

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

Gaming and Leisure Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.76 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.04 annualized dividend and a dividend yield of 5.89%. Gaming and Leisure Properties’s dividend payout ratio is presently 112.18%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GLPI shares. Deutsche Bank Aktiengesellschaft raised their target price on Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Wolfe Research upgraded shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research report on Friday, August 23rd. Scotiabank upped their target price on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 16th. Mizuho dropped their price objective on shares of Gaming and Leisure Properties from $47.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Finally, Wells Fargo & Company increased their price objective on Gaming and Leisure Properties from $48.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.11.

Insider Buying and Selling

In other news, CFO Desiree A. Burke sold 12,973 shares of the 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 completion of the sale, the chief financial officer now owns 108,073 shares of the company’s stock, valued at $5,621,957.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Desiree A. Burke sold 12,973 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $52.02, for a total value of $674,855.46. Following the sale, the chief financial officer now directly owns 108,073 shares in the company, valued at $5,621,957.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Brandon John Moore sold 30,900 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $50.05, for a total value of $1,546,545.00. Following the transaction, the chief operating officer now owns 208,977 shares of the company’s stock, valued at $10,459,298.85. The disclosure for this sale can be found here. In the last three months, insiders sold 49,478 shares of company stock valued at $2,495,429. 4.40% of the stock is owned by corporate 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.