Ameriprise Financial Inc. grew its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 3.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,662,775 shares of the real estate investment trust's stock after acquiring an additional 88,365 shares during the quarter. Ameriprise Financial Inc. owned 0.97% of Gaming and Leisure Properties worth $135,546,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Alpine Bank Wealth Management purchased a new position in shares of Gaming and Leisure Properties in the first quarter worth $26,000. TD Private Client Wealth LLC boosted its holdings in shares of Gaming and Leisure Properties by 64.2% during the 1st 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 in the last quarter. Private Trust Co. NA bought a new position in Gaming and Leisure Properties in the 1st quarter worth about $28,000. Cullen Frost Bankers Inc. boosted its stake in Gaming and Leisure Properties by 1,872.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 651 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 618 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new position in Gaming and Leisure Properties during the 1st quarter valued at about $33,000. 91.14% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Gaming and Leisure Properties
In other news, Director E Scott Urdang sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $46.54, for a total transaction of $139,620.00. Following the sale, the director owned 133,953 shares of the company's stock, valued at $6,234,172.62. This trade represents a 2.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.26% of the stock is owned by insiders.
Analyst Ratings Changes
Several research firms have recently weighed in on GLPI. Scotiabank boosted their price objective on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a "sector perform" rating in a report on Thursday. Stifel Nicolaus cut shares of 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 note on Monday, July 21st. Wells Fargo & Company cut their price objective on shares of Gaming and Leisure Properties from $51.00 to $49.00 and set an "equal weight" rating for the company in a report on Monday, June 2nd. Royal Bank Of Canada cut their price objective on shares of Gaming and Leisure Properties from $54.00 to $53.00 and set an "outperform" rating for the company in a report on Monday, July 28th. Finally, Barclays cut their target price on shares of Gaming and Leisure Properties from $55.00 to $51.00 and set an "equal weight" rating for the company in a report on Wednesday, August 20th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $52.69.
Check Out Our Latest Stock Analysis on GLPI
Gaming and Leisure Properties Stock Up 0.2%
Shares of GLPI traded up $0.09 during mid-day trading on Friday, hitting $48.07. 529,630 shares of the company traded hands, compared to its average volume of 1,478,380. Gaming and Leisure Properties, Inc. has a 1-year low of $44.48 and a 1-year high of $52.60. The company has a quick ratio of 7.39, a current ratio of 7.39 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $13.60 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 10.43 and a beta of 0.71. The business has a 50 day moving average of $46.99 and a 200 day moving average of $47.83.
Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.96 earnings per share (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 company had revenue of $394.90 million for the quarter, compared to analyst estimates of $397.27 million. During the same quarter last year, the company earned $0.94 EPS. The business's revenue 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. Equities research analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.
Gaming and Leisure Properties Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.5%. Gaming and Leisure Properties's payout ratio is 120.93%.
About Gaming and Leisure Properties
(
Free Report)
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.
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