Allspring Global Investments Holdings LLC Sells 388,655 Shares of Gaming and Leisure Properties, Inc. $GLPI

Key Points

• Allspring Global Investments Holdings LLC sold 388,655 shares of Gaming and Leisure Properties, Inc. in Q2, reducing its ownership by 7.1% to 5,114,416 shares, valued at approximately $242.6 million.
• Gaming and Leisure Properties reported Q2 earnings of $0.96 per share, which was slightly below analysts' expectations, with a revenue of $394.9 million, up 3.8% year-over-year.
• The company recently declared a quarterly dividend of $0.78, yielding about 7.0%, but has a high dividend payout ratio of 120.93%.

Allspring Global Investments Holdings LLC lessened its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 7.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,114,416 shares of the real estate investment trust's stock after selling 388,655 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.86% of Gaming and Leisure Properties worth $242,577,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GLPI. Alpine Bank Wealth Management purchased a new stake in Gaming and Leisure Properties during the first quarter valued at about $26,000. Private Trust Co. NA purchased a new stake in Gaming and Leisure Properties during the first quarter valued at about $28,000. TD Private Client Wealth LLC boosted its position in Gaming and Leisure Properties by 64.2% during the first quarter. TD Private Client Wealth LLC now owns 545 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 213 shares during the period. V Square Quantitative Management LLC purchased a new stake in Gaming and Leisure Properties during the second quarter valued at about $30,000. Finally, REAP Financial Group LLC boosted its position in Gaming and Leisure Properties by 66.0% during the second quarter. REAP Financial Group LLC now owns 664 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 264 shares during the period. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Stock Performance

Gaming and Leisure Properties stock opened at $44.63 on Monday. The company has a current ratio of 7.39, a quick ratio of 7.39 and a debt-to-equity ratio of 1.41. The firm has a 50-day moving average of $46.92 and a 200-day moving average of $47.17. The firm has a market cap of $12.63 billion, a P/E ratio of 17.30, a P/E/G ratio of 9.71 and a beta of 0.74. Gaming and Leisure Properties, Inc. has a 1-year low of $44.42 and a 1-year high of $52.27.

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

Gaming and Leisure Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a $0.78 dividend. The ex-dividend date was Friday, September 12th. This represents a $3.12 annualized dividend and a yield of 7.0%. Gaming and Leisure Properties's dividend payout ratio (DPR) is 120.93%.

Insider Buying and Selling

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 3,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $46.54, for a total value of $139,620.00. Following the completion of the sale, the director directly owned 133,953 shares in the company, valued at $6,234,172.62. This trade represents a 2.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 4.26% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on GLPI. Barclays cut their price target on shares of Gaming and Leisure Properties from $55.00 to $51.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 20th. Royal Bank Of Canada cut their price target on shares of Gaming and Leisure Properties from $54.00 to $53.00 and set an "outperform" rating for the company in a research report on Monday, July 28th. Macquarie cut their price target on shares of Gaming and Leisure Properties from $60.00 to $59.00 and set an "outperform" rating for the company in a research report on Monday, July 28th. Stifel Nicolaus lowered shares of Gaming and Leisure Properties from a "buy" rating to a "hold" rating and set a $51.25 price target for the company. in a research report on Monday, July 21st. Finally, Scotiabank increased their target price on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a "sector perform" rating in a report on Thursday, August 28th. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $52.71.

About Gaming and Leisure Properties

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.