Fort Pitt Capital Group LLC Sells 1,174,025 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Fort Pitt Capital Group LLC cut its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 92.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 89,375 shares of the real estate investment trust's stock after selling 1,174,025 shares during the quarter. Fort Pitt Capital Group LLC's holdings in Gaming and Leisure Properties were worth $4,041,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of GLPI. Headlands Technologies LLC purchased a new stake in shares of Gaming and Leisure Properties during the 4th quarter valued at about $30,000. EdgeRock Capital LLC purchased a new position in shares of Gaming and Leisure Properties in the 4th quarter worth approximately $33,000. MCF Advisors LLC increased its position in shares of Gaming and Leisure Properties by 416.7% during the 1st 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 last quarter. Versant Capital Management Inc raised its holdings in Gaming and Leisure Properties by 18,500.0% during the 2nd quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 740 shares during the period. Finally, Mather Group LLC. bought a new stake in Gaming and Leisure Properties in the first quarter worth $42,000. Institutional investors own 91.14% of the company's stock.

Insider Transactions at Gaming and Leisure Properties

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GLPI. Wolfe Research raised shares of Gaming and Leisure Properties from a "peer perform" rating to an "outperform" rating and set a $57.00 price objective for the company in a research note on Friday, August 23rd. UBS Group lifted their price objective on shares of Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a "buy" rating in a report on Tuesday, July 16th. JMP Securities upped their target price on shares of Gaming and Leisure Properties from $53.00 to $55.00 and gave the stock a "market outperform" rating in a research note on Monday, August 12th. Mizuho decreased their price target on shares of Gaming and Leisure Properties from $47.00 to $46.00 and set a "neutral" rating for the company in a research note on Friday, May 10th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $53.00 price target on shares of Gaming and Leisure Properties in a report on Friday, June 21st. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.11.

Gaming and Leisure Properties Stock Up 0.1 %

Shares of GLPI stock traded up $0.05 during mid-day trading on Wednesday, hitting $51.08. 797,410 shares of the stock traded hands, compared to its average volume of 1,333,805. The stock's fifty day moving average is $47.86 and its two-hundred day moving average is $45.77. The company has a debt-to-equity ratio of 1.49, a current ratio of 5.91 and a quick ratio of 5.91. Gaming and Leisure Properties, Inc. has a 52-week low of $41.80 and a 52-week high of $51.35. The stock has a market cap of $13.87 billion, a P/E ratio of 18.85, a P/E/G ratio of 5.14 and a beta of 0.98.

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

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.

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