Peter Carlino (Insider Trades), CEO, 10% owner and chairman of Gaming and Leisure Properties Inc. (GLPI), sold 283,254 company shares on July 6. The price per share was $35.03 for a total transaction of $9,922,387.
Gaming and Leisure Properties is a gaming-focused REIT in North America. The company has a market cap of $7.06 billion and a P/S ratio of 8.81.
The number and volume of Gaming and Leisure Properties insider sells increased from 2014 to 2016. There were six transactions totaling 611,465 shares in 2014, 14 transactions of 799,120 shares in 2015 and 16 transactions totaling 12,792,623 shares to date. The number and volume of Gaming and Leisure Properties insider buys also follows the same increasing trend per year. The increase in the number of insider sells corresponds to an increase in Gaming and Leisure Properties' month-end price starting in January. 
Including the aforementioned transaction, Carlino sold 1,888,999 shares in 12 transactions since 2014. Another Gaming and Leisure Properties insider, Senior Vice President and General Counsel Brandon John Moore (Insider Trades), also sold 13,216 shares of the company at a per share price of $35 on July 5. For more information about insider trades with Gaming and Leisure Properties, click here.
Net revenue in the first quarter increased in comparison to the previous year’s first quarter. The company reported net revenue of $148.8 million in the three months ended March 31, compared to net revenue of $148.7 million in the first quarter of 2015. Net income decreased from $33.1 million or 28 cents per share to $32.7 million or 27 cents per share when comparing the same time periods. Carlino commented that the first quarter results “once again show the stability of [the company’s] geographically diverse portfolio of regional gaming assets.”
Annual revenue and annual net income for Gaming and Leisure Properties follow increasing trend lines. On April 28, the company completed the acquisition of real estate assets of Pinnacle Entertainment Inc. (PNK, Financial). The company also announced the pricing of a public secondary offering of 10,530,624 shares of its outstanding common stock by certain selling shareholders affiliated with Fortress Investment Group LLC. The shareholders will receive gross proceeds of about $333 million.
George Soros (Trades, Portfolio) and Jim Simons (Trades, Portfolio) increased their stake in Gaming and Leisure Properties by 30.42% and 48.39% during the first quarter. Soros acquired 421,212 shares and Simons acquired 287,600 shares at an average per share price of $27.12. On the other hand, Murray Stahl (Trades, Portfolio) reduced his stake in Gaming and Leisure Properties by 22.75% in the first quarter after decreasing his holding with Gaming and Leisure Properties in the previous two quarters. For more information about guru transactions with Gaming and Leisure Properties, click here.
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