Highland Capital Management LLC Reduces Stock Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Highland Capital Management LLC cut its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 7.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,860 shares of the real estate investment trust's stock after selling 6,770 shares during the quarter. Highland Capital Management LLC's holdings in Gaming and Leisure Properties were worth $3,701,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in Gaming and Leisure Properties in the 4th quarter worth about $30,000. EdgeRock Capital LLC bought a new stake in shares of Gaming and Leisure Properties in the fourth quarter worth $33,000. MCF Advisors LLC increased its holdings in Gaming and Leisure Properties by 416.7% in the first 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 during the period. Versant Capital Management Inc raised its position in shares of Gaming and Leisure Properties by 18,500.0% during the second quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 740 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in Gaming and Leisure Properties in the first quarter valued at approximately $42,000. Institutional investors own 91.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Scotiabank raised their price objective on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 16th. Wolfe Research upgraded shares of Gaming and Leisure Properties from a "peer perform" rating to an "outperform" rating and set a $57.00 target price for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a "hold" rating in a research report on Monday, July 29th. Wedbush reiterated an "outperform" rating and issued a $51.00 price objective on shares of Gaming and Leisure Properties in a research note on Friday, May 17th. Finally, Morgan Stanley restated an "overweight" rating and issued a $53.00 target price on shares of Gaming and Leisure Properties in a research note on Friday, June 21st. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Gaming and Leisure Properties presently has an average rating of "Moderate Buy" and a consensus price target of $52.11.

Gaming and Leisure Properties Stock Performance

Shares of GLPI stock traded up $0.29 on Monday, hitting $51.03. 1,033,314 shares of the stock were exchanged, compared to its average volume of 1,340,766. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $13.85 billion, a PE ratio of 18.83, a P/E/G ratio of 5.14 and a beta of 0.98. Gaming and Leisure Properties, Inc. has a one year low of $41.80 and a one year high of $51.35. The firm's 50 day moving average is $47.59 and its two-hundred day moving average is $45.70.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The business had revenue of $380.60 million for the quarter, compared to analysts' expectations of $377.95 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. The business's quarterly revenue was up 6.7% compared to the same quarter last year. Sell-side analysts expect that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current fiscal year.

Insider Transactions at Gaming and Leisure Properties

In related news, COO Brandon John Moore sold 30,900 shares of the business's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the sale, the chief operating officer now directly owns 208,977 shares in the company, valued at approximately $10,459,298.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO Brandon John Moore sold 30,900 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the completion of the transaction, the chief operating officer now owns 208,977 shares of the company's stock, valued at $10,459,298.85. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director E Scott Urdang sold 5,605 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $48.89, for a total transaction of $274,028.45. Following the completion of the sale, the director now owns 156,685 shares in the company, valued at $7,660,329.65. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company's stock.

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.