Alliancebernstein L.P. Lowers Stake in Gaming and Leisure Properties, Inc. $GLPI

Key Points

• Alliancebernstein L.P. reduced its stake in Gaming and Leisure Properties, Inc. by 38.3%, selling 301,564 shares, and now holds approximately 0.18% of the company valued at $24.7 million.
• The company recently announced a quarterly dividend of $0.78 per share, with a payout ratio of 120.93%, indicating strong returns for shareholders.
• Despite a slight earnings miss in its last quarterly report, the stock has a current market cap of $13.61 billion and has been rated with a consensus "Hold" and a price target around $52.69 by analysts.

Alliancebernstein L.P. lowered its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 38.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 485,258 shares of the real estate investment trust's stock after selling 301,564 shares during the period. Alliancebernstein L.P. owned 0.18% of Gaming and Leisure Properties worth $24,700,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of GLPI. Advisors Asset Management Inc. increased its position in shares of Gaming and Leisure Properties by 24.0% during the first quarter. Advisors Asset Management Inc. now owns 7,001 shares of the real estate investment trust's stock worth $356,000 after purchasing an additional 1,353 shares in the last quarter. FJ Capital Management LLC acquired a new position in shares of Gaming and Leisure Properties during the first quarter worth $354,000. Royal Bank of Canada increased its position in shares of Gaming and Leisure Properties by 1.5% during the first quarter. Royal Bank of Canada now owns 466,403 shares of the real estate investment trust's stock worth $23,741,000 after purchasing an additional 6,869 shares in the last quarter. Quarry LP increased its position in shares of Gaming and Leisure Properties by 33.0% during the first quarter. Quarry LP now owns 1,302 shares of the real estate investment trust's stock worth $66,000 after purchasing an additional 323 shares in the last quarter. Finally, Evergreen Capital Management LLC acquired a new position in shares of Gaming and Leisure Properties during the first quarter worth $525,000. Hedge funds and other institutional investors own 91.14% of the company's stock.

Insider Buying and Selling

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 3,000 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $46.54, for a total value of $139,620.00. Following the sale, the director directly owned 133,953 shares of the company's stock, valued at approximately $6,234,172.62. This represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.26% of the company's stock.

Gaming and Leisure Properties Stock Performance

NASDAQ:GLPI traded down $0.36 during mid-day trading on Friday, hitting $48.05. The company's stock had a trading volume of 2,422,022 shares, compared to its average volume of 1,986,190. Gaming and Leisure Properties, Inc. has a 1 year low of $44.48 and a 1 year high of $52.27. The company has a debt-to-equity ratio of 1.41, a current ratio of 7.39 and a quick ratio of 7.39. The stock has a market cap of $13.60 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 10.53 and a beta of 0.73. The business's fifty day moving average is $47.18 and its two-hundred day moving average is $47.76.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.96 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.01). Gaming and Leisure Properties had a net margin of 46.32% and a return on equity of 15.43%. The business had revenue of $394.90 million during the quarter, compared to analysts' expectations of $397.27 million. During the same period in the previous year, the company posted $0.94 earnings per share. Gaming and Leisure Properties's revenue for the quarter was up 3.8% compared to the same quarter last year. Gaming and Leisure Properties has set its FY 2025 guidance at 3.850-3.87 EPS. Analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Friday, September 12th. Gaming and Leisure Properties's dividend payout ratio is presently 120.93%.

Wall Street Analysts Forecast Growth

GLPI has been the topic of a number of recent analyst reports. Macquarie reduced their price target on Gaming and Leisure Properties from $60.00 to $59.00 and set an "outperform" rating on the stock in a research report on Monday, July 28th. Mizuho upped their price target on Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday. Barclays reduced their price target on Gaming and Leisure Properties from $55.00 to $51.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 20th. Stifel Nicolaus downgraded Gaming and Leisure Properties from a "buy" rating to a "hold" rating and set a $51.25 target price on the stock. in a research report on Monday, July 21st. Finally, Wells Fargo & Company cut their target price on Gaming and Leisure Properties from $51.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Monday, June 2nd. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Gaming and Leisure Properties currently has an average rating of "Hold" and an average price target of $52.85.

Gaming and Leisure Properties Company Profile

Gaming & Leisure Properties, Inc engages in the provision of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.