Stoneridge Investment Partners LLC cut its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 68.3% during the second quarter, Holdings Channel reports. The firm owned 25,922 shares of the real estate investment trust’s stock after selling 55,867 shares during the period. Stoneridge Investment Partners LLC’s holdings in Gaming and Leisure Properties were worth $976,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Gaming and Leisure Properties by 4,109.0% in the first quarter. BlackRock Inc. now owns 12,544,234 shares of the real estate investment trust’s stock worth $419,228,000 after buying an additional 12,246,199 shares during the period. State Street Corp increased its stake in shares of Gaming and Leisure Properties by 27.0% in the first quarter. State Street Corp now owns 3,928,376 shares of the real estate investment trust’s stock worth $131,289,000 after buying an additional 835,670 shares during the period. OppenheimerFunds Inc. bought a new stake in shares of Gaming and Leisure Properties during the first quarter worth $12,521,000. Systematic Financial Management LP bought a new stake in shares of Gaming and Leisure Properties during the first quarter worth $11,535,000. Finally, American Century Companies Inc. increased its stake in shares of Gaming and Leisure Properties by 2,080.8% in the first quarter. American Century Companies Inc. now owns 290,855 shares of the real estate investment trust’s stock worth $9,720,000 after buying an additional 277,518 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) opened at 37.56 on Thursday. The stock has a 50 day moving average of $37.69 and a 200-day moving average of $34.73. The firm has a market cap of $7.98 billion, a PE ratio of 21.07 and a beta of 0.90. Gaming and Leisure Properties, Inc. has a 52 week low of $29.32 and a 52 week high of $38.89.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its earnings results on Thursday, July 27th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by $0.32. The business had revenue of $243.40 million during the quarter, compared to the consensus estimate of $243.77 million. Gaming and Leisure Properties had a net margin of 38.99% and a return on equity of 17.14%. The company’s revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 EPS. Analysts expect that Gaming and Leisure Properties, Inc. will post $1.80 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date of this dividend is Thursday, September 7th. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.62. Gaming and Leisure Properties’s payout ratio is presently 139.33%.

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GLPI has been the subject of a number of research reports. Zacks Investment Research raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Tuesday, May 2nd. Deutsche Bank AG increased their price objective on shares of Gaming and Leisure Properties from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Ladenburg Thalmann Financial Services assumed coverage on shares of Gaming and Leisure Properties in a research note on Friday, June 2nd. They issued a “buy” rating and a $41.00 price objective for the company. Finally, BidaskClub cut shares of Gaming and Leisure Properties from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $37.71.

In other news, Director Barry F. Schwartz acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was acquired at an average price of $36.44 per share, with a total value of $364,400.00. Following the completion of the transaction, the director now directly owns 14,804 shares of the company’s stock, valued at approximately $539,457.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.88% 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. Its segments include GLP Capital, L.P.

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Institutional Ownership by Quarter for Gaming and Leisure Properties (NASDAQ:GLPI)

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