Gaming and Leisure Properties (GLPI) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 6,839,579 to 6,793,391 shares, with 6 days to go before the expiry. The short open interest has decreased by -0.7%, amounting to a reduction of -46,188 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 3.6% of the float of the company. The average daily volume of the stock is 1,109,459 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Gaming and Leisure Properties (NASDAQ:GLPI): The stock opened at $34.99 on Wednesday but the bulls could not build on the opening and the stock topped out at $35.12 for the day. The stock traded down to $34.66 during the day, due to lack of any buying support eventually closed down at $34.74 with a loss of -0.49% for the day. The stock had closed at $34.91 on the previous day. The total traded volume was 673,882 shares.
In a related news,The officer (SVP & Chief Accounting Officer) of Gaming & Leisure Properties, Inc., Burke Desiree A. sold 132,156 shares at $35.41 on August 11, 2016. The Insider selling transaction had a total value worth of $4,679,644. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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 Companys business. The TRS Properties segment consists of Hollywood Casino Perryville and Hollywood Casino Baton Rouge.