Sumitomo Mitsui Trust Group Inc. cut its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Free Report) by 21.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,558,291 shares of the real estate investment trust’s stock after selling 427,775 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Gaming and Leisure Properties were worth $59,168,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pension & Wealth Management Advisors Inc. bought a new stake in shares of Gaming and Leisure Properties during the 3rd quarter valued at $29,000. Mather Group LLC. grew its holdings in shares of Gaming and Leisure Properties by 54.2% during the 3rd quarter. Mather Group LLC. now owns 799 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 281 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of Gaming and Leisure Properties in the third quarter worth $30,000. Markowski Investments bought a new position in shares of Gaming and Leisure Properties in the second quarter worth $35,000. Finally, Parkside Financial Bank & Trust increased its position in shares of Gaming and Leisure Properties by 115.2% in the second quarter. Parkside Financial Bank & Trust now owns 794 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 425 shares during the period. 91.14% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
GLPI has been the subject of several recent analyst reports. Citizens Jmp cut their price objective on shares of Gaming and Leisure Properties from $55.00 to $49.00 and set a “market outperform” rating for the company in a research report on Friday, October 2nd. Truist Financial decreased their target price on shares of Gaming and Leisure Properties from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, October 20th. Royal Bank Of Canada dropped their target price on shares of Gaming and Leisure Properties from $54.00 to $52.00 and set an “outperform” rating for the company in a research report on Monday, August 3rd. JPMorgan Chase & Co. downgraded shares of Gaming and Leisure Properties from an “overweight” rating to a “neutral” rating and set a $46.00 price target for the company. in a report on Thursday, September 24th. Finally, Cantor Fitzgerald reduced their price target on shares of Gaming and Leisure Properties from $52.00 to $48.00 and set a “neutral” rating on the stock in a research report on Monday, August 10th. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.69.
Check Out Our Latest Research Report on GLPI
Gaming and Leisure Properties Trading Down 0.4%
Shares of GLPI opened at $39.17 on Wednesday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 5.38 and a current ratio of 5.38. Gaming and Leisure Properties, Inc. has a 52-week low of $37.33 and a 52-week high of $49.95. The firm has a market cap of $11.40 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 1.64 and a beta of 0.64. The business’s fifty day moving average is $39.73 and its 200-day moving average is $44.44.
Gaming and Leisure Properties (NASDAQ:GLPI – Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). Gaming and Leisure Properties had a return on equity of 18.16% and a net margin of 55.71%. The business had revenue of $435.45 million for the quarter, compared to the consensus estimate of $436.30 million. During the same quarter in the prior year, the company earned $0.97 earnings per share. Gaming and Leisure Properties’s quarterly revenue was up 9.5% compared to the same quarter last year. Equities analysts anticipate that Gaming and Leisure Properties, Inc. will post 4.03 EPS for the current fiscal year.
Gaming and Leisure Properties Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were paid a dividend of $0.82 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $3.28 annualized dividend and a yield of 8.4%. Gaming and Leisure Properties’s payout ratio is presently 100.31%.
Insider Buying and Selling
In related news, Director Earl C. Shanks bought 10,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was purchased at an average price of $42.24 per share, with a total value of $422,400.00. Following the completion of the acquisition, the director owned 107,259 shares of the company’s stock, valued at $4,530,620.16. The trade was a 10.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.11% of the company’s stock.
Gaming and Leisure Properties Company Profile
Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust that owns and leases gaming and entertainment properties. The company primarily operates as a landlord, generating rental income through long-term agreements with casino operators rather than directly managing most of the gaming facilities located on its properties.
GLPI’s portfolio includes casinos, resorts, racetracks and related entertainment facilities across the United States. Its leases are generally structured as triple-net agreements, under which tenants are typically responsible for property-level expenses such as maintenance, insurance and real estate taxes.
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