Orion Portfolio Solutions LLC Cuts Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Orion Portfolio Solutions LLC lessened its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 19.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,504 shares of the real estate investment trust’s stock after selling 1,113 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Gaming and Leisure Properties were worth $232,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in GLPI. Segall Bryant & Hamill LLC bought a new position in shares of Gaming and Leisure Properties during the 3rd quarter valued at approximately $693,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Gaming and Leisure Properties by 63.1% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 51,991 shares of the real estate investment trust’s stock valued at $2,351,000 after purchasing an additional 20,111 shares during the last quarter. Sei Investments Co. grew its holdings in Gaming and Leisure Properties by 11.4% during the second quarter. Sei Investments Co. now owns 539,593 shares of the real estate investment trust’s stock valued at $24,395,000 after purchasing an additional 55,385 shares during the period. Cerity Partners LLC increased its position in Gaming and Leisure Properties by 87.5% in the third quarter. Cerity Partners LLC now owns 14,410 shares of the real estate investment trust’s stock worth $741,000 after buying an additional 6,724 shares during the last quarter. Finally, Zacks Investment Management raised its stake in shares of Gaming and Leisure Properties by 10.9% in the third quarter. Zacks Investment Management now owns 522,197 shares of the real estate investment trust’s stock valued at $26,867,000 after buying an additional 51,398 shares during the period. Institutional investors own 91.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. JMP Securities reiterated a “market outperform” rating and set a $55.00 price target on shares of Gaming and Leisure Properties in a research note on Wednesday. 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. Mizuho lowered 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 report on Thursday, November 14th. Barclays started coverage on shares of Gaming and Leisure Properties in a research note on Tuesday. They set an “equal weight” rating and a $54.53 price target on the stock. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $52.00 target price (up previously from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Gaming and Leisure Properties Price Performance

Shares of NASDAQ GLPI opened at $46.46 on Friday. The stock’s 50-day simple moving average is $50.26 and its two-hundred day simple moving average is $49.11. Gaming and Leisure Properties, Inc. has a twelve month low of $41.80 and a twelve month high of $52.60. The firm has a market capitalization of $12.75 billion, a P/E ratio of 16.24, a P/E/G ratio of 2.10 and a beta of 0.98. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.25). Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The company had revenue of $385.34 million during the quarter, compared to the consensus estimate of $385.09 million. During the same quarter last year, the company posted $0.92 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date of this dividend is Friday, December 6th. Gaming and Leisure Properties’s dividend payout ratio is currently 106.29%.

Insider Buying and Selling

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 6,885 shares of Gaming and Leisure Properties stock in a transaction dated 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 sale, the director now owns 149,800 shares of the company’s stock, valued at $7,513,968. The trade was a 4.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.37% of the stock is owned by company insiders.

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.