American Money Management Lowers stake in Gaming and Leisure Properties Inc (GLPI)

Gaming and Leisure Properties Inc (GLPI) : American Money Management reduced its stake in Gaming and Leisure Properties Inc by 4.69% during the most recent quarter end. The investment management company now holds a total of 74,570 shares of Gaming and Leisure Properties Inc which is valued at $2,640,524 after selling 3,669 shares in Gaming and Leisure Properties Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Gaming and Leisure Properties Inc makes up approximately 2.09% of American Money Management’s portfolio.

Other Hedge Funds, Including , Quadrature Capital Ltd added GLPI to its portfolio by purchasing 50,606 company shares during the most recent quarter which is valued at $1,791,958. Gaming and Leisure Properties Inc makes up approx 0.13% of Quadrature Capital Ltd’s portfolio.Blackrock Investment Management reduced its stake in GLPI by selling 114,226 shares or 60.93% in the most recent quarter. The Hedge Fund company now holds 73,241 shares of GLPI which is valued at $2,593,464. Sumitomo Mitsui Asset Management Company Ltd added GLPI to its portfolio by purchasing 6,700 company shares during the most recent quarter which is valued at $240,061. Gaming and Leisure Properties Inc makes up approx 0.01% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.Quadrant Capital Group boosted its stake in GLPI in the latest quarter, The investment management firm added 25 additional shares and now holds a total of 108 shares of Gaming and Leisure Properties Inc which is valued at $3,870.

Gaming and Leisure Properties Inc opened for trading at $35 and hit $35.04 on the upside on Tuesday, eventually ending the session at $34.91, with a gain of 0.06% or 0.02 points. The heightened volatility saw the trading volume jump to 5,60,829 shares. Company has a market cap of $7,161 M.

On the company’s financial health, Gaming and Leisure Properties Inc reported $0.39 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $0.50. The company had revenue of $207.40 million for the quarter, compared to analysts expectations of $211.37 million. The company’s revenue was up 38.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS.

Gaming and Leisure Properties Inc. (GLPI) is a self-administered and self-managed 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. Triple net leases are leases in which the lessee pays rent to the lessor as well as all taxes insurance and maintenance expenses that arise from the use of the property. The Company operates in two segments: GLP Capital L.P. (a wholly owned subsidiary of GLPI through which GLPI owns all of its real estate assets) (GLP Capital) and the TRS Properties. The GLP Capital segment consists of the leased real property and represents the Company’s business. The TRS Properties segment consists of Hollywood Casino Perryville and Hollywood Casino Baton Rouge.

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