Trade Report: The Wealth Enhancement Advisory Services LLC Boosts Stake in Gaming and Leisure Properties Inc. (GLPI)

The Wealth Enhancement Advisory Services LLC Boosts Stake in Gaming and Leisure Properties Inc. (GLPI)

Wealth Enhancement Advisory Services LLC boosted its stake in Gaming and Leisure Properties Inc. (NASDAQ:GLPI) by 10.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,109 shares of the company’s stock after buying an additional 4,109 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Gaming and Leisure Properties were worth $1,486,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in GLPI. Lazard Asset Management LLC bought a new position in shares of Gaming and Leisure Properties during the first quarter worth about $136,000. BlackRock Japan Co. Ltd raised its position in shares of Gaming and Leisure Properties by 2.0% in the first quarter. BlackRock Japan Co. Ltd now owns 4,933 shares of the company’s stock worth $153,000 after buying an additional 99 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD bought a new position in shares of Gaming and Leisure Properties during the second quarter worth about $231,000. Daiwa Securities Group Inc. raised its position in shares of Gaming and Leisure Properties by 109.1% in the second quarter. Daiwa Securities Group Inc. now owns 6,900 shares of the company’s stock worth $238,000 after buying an additional 3,600 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of Gaming and Leisure Properties by 0.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 8,073 shares of the company’s stock worth $250,000 after buying an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Gaming and Leisure Properties Inc. (NASDAQ:GLPI) traded up 0.43% during mid-day trading on Monday, reaching $32.99. 272,518 shares of the company’s stock were exchanged. The stock has a market cap of $6.77 billion, a P/E ratio of 26.43 and a beta of 1.01. Gaming and Leisure Properties Inc. has a 52 week low of $24.21 and a 52 week high of $35.98. The stock has a 50-day moving average price of $33.36 and a 200-day moving average price of $33.72.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.33. The company had revenue of $207.36 million for the quarter, compared to the consensus estimate of $211.68 million. Gaming and Leisure Properties had a net margin of 26.72% and a return on equity of 41.29%. The firm’s revenue was up 38.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 earnings per share. On average, analysts forecast that Gaming and Leisure Properties Inc. will post $2.95 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Monday, September 12th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, September 8th. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 7.31%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 200.00%.

A number of equities analysts recently issued reports on GLPI shares. Zacks Investment Research upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Tuesday, June 28th. Deutsche Bank AG reiterated a “buy” rating on shares of Gaming and Leisure Properties in a research report on Sunday, June 26th. TheStreet upgraded shares of Gaming and Leisure Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, October 11th. Finally, Morgan Stanley upgraded shares of Gaming and Leisure Properties from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $36.00 to $38.00 in a research report on Wednesday, September 7th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Gaming and Leisure Properties has a consensus rating of “Buy” and an average target price of $35.22.

In related news, CFO William J. Clifford sold 157,241 shares of Gaming and Leisure Properties stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $34.78, for a total value of $5,468,841.98. Following the completion of the transaction, the chief financial officer now directly owns 293,069 shares of the company’s stock, valued at $10,192,939.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William J. Clifford sold 100,000 shares of Gaming and Leisure Properties stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $35.33, for a total value of $3,533,000.00. Following the completion of the transaction, the chief financial officer now directly owns 176,820 shares of the company’s stock, valued at $6,247,050.60. The disclosure for this sale can be found here. Company insiders own 22.36% of the company’s stock.

Gaming and Leisure Properties Company Profile

Gaming and Leisure Properties, Inc (GLPI) is a self-administered and self-managed Pennsylvania real estate investment trust (REIT). The Company is engaged in the business of acquiring, financing and owning real estate property to be leased to gaming operators in triple net lease arrangements. The Company’s segments include GLP Capital, L.P.

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