Envestnet Portfolio Solutions Inc. Boosts Stock Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Envestnet Portfolio Solutions Inc. increased its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 11.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 24,560 shares of the real estate investment trust’s stock after purchasing an additional 2,498 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Gaming and Leisure Properties were worth $1,183,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Stonebridge Financial Group LLC bought a new stake in shares of Gaming and Leisure Properties during the fourth quarter valued at about $31,000. CKW Financial Group grew its stake in Gaming and Leisure Properties by 75.0% during the fourth quarter. CKW Financial Group now owns 700 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 300 shares in the last quarter. Brooklyn Investment Group bought a new stake in Gaming and Leisure Properties during the 3rd quarter worth approximately $39,000. Wilmington Savings Fund Society FSB purchased a new stake in Gaming and Leisure Properties in the 3rd quarter worth approximately $66,000. Finally, UMB Bank n.a. boosted its holdings in Gaming and Leisure Properties by 57.4% in the 4th quarter. UMB Bank n.a. now owns 1,368 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 499 shares during the period. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Stock Performance

NASDAQ GLPI opened at $50.20 on Friday. The firm has a market cap of $13.80 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 2.01 and a beta of 1.00. The company has a 50-day simple moving average of $49.14 and a two-hundred day simple moving average of $49.75. 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, Inc. has a 12-month low of $41.80 and a 12-month high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.01. The company had revenue of $389.62 million during the quarter, compared to analysts’ expectations of $391.54 million. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. On average, equities analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 6.06%. The ex-dividend date of this dividend is Friday, March 14th. Gaming and Leisure Properties’s payout ratio is 105.92%.

Wall Street Analysts Forecast Growth

GLPI has been the topic of several research analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $55.00 price target on shares of Gaming and Leisure Properties in a report on Wednesday, December 18th. JPMorgan Chase & Co. raised Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and raised their price target for the company from $49.00 to $54.00 in a report on Friday, December 13th. Morgan Stanley lowered Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price objective for the company. in a report on Wednesday, January 15th. Scotiabank lowered their target price on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. Finally, Barclays cut their price target on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 4th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.96.

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $50.89, for a total transaction of $254,450.00. Following the transaction, the director now owns 140,953 shares in the company, valued at $7,173,098.17. The trade was a 3.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Matthew Demchyk sold 1,149 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $47.80, for a total value of $54,922.20. Following the completion of the sale, the senior vice president now owns 91,620 shares of the company’s stock, valued at approximately $4,379,436. This trade represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,064 shares of company stock worth $2,778,908 in the last three months. 4.37% of the stock is owned by insiders.

About Gaming and Leisure Properties

Gaming & Leisure Properties, Inc engages in the provision of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.