1,218,737 Shares in Gaming and Leisure Properties, Inc. $GLPI Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 1,218,737 GLPI shares worth approximately $54.3 million, giving it a 0.42% stake. Institutional investors collectively own 91.14% of the gaming-focused REIT.
• Analysts maintain a generally positive outlook, with GLPI receiving a “Moderate Buy” consensus rating and an average price target of $48.73, despite several recent target reductions.
• GLPI declared a quarterly dividend of $0.82 per share, equivalent to an annualized $3.28 payout and an 8.3% yield; its latest quarterly revenue rose 9% year over year to $430.52 million.

Bank of America Corp DE acquired a new position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,218,737 shares of the real estate investment trust's stock, valued at approximately $54,270,000. Bank of America Corp DE owned approximately 0.42% of Gaming and Leisure Properties at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GLPI. SHP Wealth Management acquired a new stake in Gaming and Leisure Properties during the 4th quarter valued at approximately $30,000. Essential Partners LLC boosted its stake in shares of Gaming and Leisure Properties by 38.2% during the 1st quarter. Essential Partners LLC now owns 868 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 240 shares during the last quarter. Blue Trust Inc. acquired a new stake in shares of Gaming and Leisure Properties during the first quarter worth approximately $40,000. Persistent Asset Partners Ltd acquired a new stake in shares of Gaming and Leisure Properties during the second quarter worth approximately $40,000. Finally, Monetary Solutions Ltd bought a new stake in shares of Gaming and Leisure Properties in the fourth quarter worth $53,000. 91.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on GLPI shares. JPMorgan Chase & Co. cut their price target on shares of Gaming and Leisure Properties from $53.00 to $51.00 and set an "overweight" rating on the stock in a report on Tuesday, June 30th. Wells Fargo & Company decreased their price objective on shares of Gaming and Leisure Properties from $45.00 to $43.00 and set an "equal weight" rating for the company in a report on Tuesday, September 1st. UBS Group set a $49.00 target price on shares of Gaming and Leisure Properties in a research report on Thursday, June 18th. Stifel Nicolaus cut their target price on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a "hold" rating on the stock in a research note on Friday, July 31st. 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. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, Gaming and Leisure Properties currently has an average rating of "Moderate Buy" and an average price target of $48.73.

Gaming and Leisure Properties Price Performance

Shares of Gaming and Leisure Properties stock opened at $39.59 on Monday. The stock has a market capitalization of $11.52 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.65 and a beta of 0.65. Gaming and Leisure Properties, Inc. has a twelve month low of $39.48 and a twelve month high of $49.95. The company has a current ratio of 4.74, a quick ratio of 4.74 and a debt-to-equity ratio of 1.51. The business's 50 day simple moving average is $43.12 and its 200-day simple moving average is $45.32.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its earnings results on Thursday, July 30th. The real estate investment trust reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $430.52 million for the quarter, compared to the consensus estimate of $428.51 million. Gaming and Leisure Properties had a return on equity of 19.17% and a net margin of 59.01%.The firm's revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 EPS. Gaming and Leisure Properties has set its FY 2026 guidance at 4.100-4.120 EPS. Equities research analysts forecast that Gaming and Leisure Properties, Inc. will post 4.03 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 8.3%. The ex-dividend date is Friday, September 11th. Gaming and Leisure Properties's dividend payout ratio is currently 96.19%.

Insider Transactions at Gaming and Leisure Properties

In related news, Director Earl C. Shanks purchased 10,000 shares of Gaming and Leisure Properties stock in a transaction dated Tuesday, August 18th. The stock was bought at an average cost of $42.24 per share, with a total value of $422,400.00. Following the purchase, the director owned 107,259 shares in the company, valued at approximately $4,530,620.16. The trade was a 10.28% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.11% of the stock is owned by corporate insiders.

About Gaming and Leisure Properties

Gaming and Leisure Properties, Inc NASDAQ: GLPI is a real estate investment trust that owns, acquires and leases gaming-related properties. Its portfolio primarily consists of casinos and other properties used for gaming, entertainment and hospitality activities.

GLPI generally leases its properties to gaming operators under long-term, triple-net lease agreements. Under these arrangements, tenants typically operate the properties and are responsible for expenses such as maintenance, insurance and property taxes, while GLPI focuses on owning and managing the underlying real estate.

The company was established in 2013 through the spin-off of gaming properties from Penn National Gaming, now known as PENN Entertainment.

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