Amalgamated Bank Sells 4,650 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Amalgamated Bank lessened its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 166,115 shares of the real estate investment trust’s stock after selling 4,650 shares during the period. Amalgamated Bank owned 0.06% of Gaming and Leisure Properties worth $8,198,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in Gaming and Leisure Properties in the 4th quarter valued at $30,000. Operose Advisors LLC bought a new stake in Gaming and Leisure Properties during the third quarter valued at about $32,000. GAMMA Investing LLC acquired a new stake in shares of Gaming and Leisure Properties in the fourth quarter valued at about $51,000. Armstrong Advisory Group Inc. increased its stake in shares of Gaming and Leisure Properties by 166.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 1,203 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 751 shares during the period. Finally, Banque Cantonale Vaudoise bought a new position in shares of Gaming and Leisure Properties in the third quarter worth about $79,000. Institutional investors own 91.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GLPI. Royal Bank of Canada lowered their target price on Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Morgan Stanley lowered their price objective on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Thursday, March 21st. StockNews.com cut shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Wednesday. JMP Securities reissued a “market outperform” rating and issued a $53.00 price target on shares of Gaming and Leisure Properties in a report on Monday, March 4th. Finally, Mizuho dropped their price objective on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, March 7th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Gaming and Leisure Properties has an average rating of “Moderate Buy” and an average target price of $51.91.

Insider Activity

In other news, Director E Scott Urdang bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was acquired at an average price of $45.00 per share, for a total transaction of $112,500.00. Following the transaction, the director now directly owns 156,685 shares of the company’s stock, valued at approximately $7,050,825. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is owned by corporate insiders.

Gaming and Leisure Properties Stock Performance

NASDAQ:GLPI opened at $43.20 on Friday. The firm has a market capitalization of $11.73 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 5.08 and a beta of 0.95. The company has a quick ratio of 6.47, a current ratio of 6.47 and a debt-to-equity ratio of 1.49. Gaming and Leisure Properties, Inc. has a 12-month low of $41.80 and a 12-month high of $51.43. The firm has a 50-day moving average price of $44.60 and a 200 day moving average price of $45.75.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). The company had revenue of $376.00 million during the quarter, compared to analyst estimates of $368.44 million. Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 earnings per share. Research analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.66 earnings per share for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.76 per share. The ex-dividend date was Thursday, March 14th. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 dividend on an annualized basis and a dividend yield of 7.04%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 112.18%.

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.