Asset Management One Co. Ltd. Sells 63,381 Shares of Gaming and Leisure Properties, Inc. $GLPI

Key Points

• Asset Management One cut its GLPI stake by 11.5% in the third quarter, selling 63,381 shares and retaining 488,267 shares valued at approximately $18.5 million. Institutional investors and hedge funds collectively own 91.14% of the REIT.
• GLPI exceeded earnings expectations with quarterly EPS of $1.04 versus the $0.80 consensus estimate, while revenue rose 9.5% year over year to $435.45 million, slightly below forecasts.
• The company pays a quarterly dividend of $0.82, representing an annualized yield of about 8.3%. Shares recently traded at $39.49, while analysts maintained a “Moderate Buy” consensus with an average price target of $47.69.

Asset Management One Co. Ltd. reduced its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 11.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 488,267 shares of the real estate investment trust's stock after selling 63,381 shares during the quarter. Asset Management One Co. Ltd. owned 0.17% of Gaming and Leisure Properties worth $18,539,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GLPI. Park Avenue Securities LLC boosted its holdings in Gaming and Leisure Properties by 59.6% in the 3rd quarter. Park Avenue Securities LLC now owns 23,027 shares of the real estate investment trust's stock worth $874,000 after acquiring an additional 8,600 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. grew its position in Gaming and Leisure Properties by 90.5% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 120,625 shares of the real estate investment trust's stock valued at $4,580,000 after acquiring an additional 57,305 shares in the last quarter. Signaturefd LLC grew its position in Gaming and Leisure Properties by 89.9% in the third quarter. Signaturefd LLC now owns 6,900 shares of the real estate investment trust's stock valued at $262,000 after acquiring an additional 3,267 shares in the last quarter. Sowell Financial Services LLC raised its stake in shares of Gaming and Leisure Properties by 11.9% during the third quarter. Sowell Financial Services LLC now owns 20,606 shares of the real estate investment trust's stock valued at $782,000 after purchasing an additional 2,198 shares during the period. Finally, Root Financial Partners LLC purchased a new stake in shares of Gaming and Leisure Properties during the third quarter valued at approximately $30,000. 91.14% of the stock is owned by institutional investors and hedge funds.

Gaming and Leisure Properties Stock Performance

Shares of GLPI opened at $39.49 on Friday. The business's 50 day moving average is $40.00 and its two-hundred day moving average is $44.53. 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 $11.49 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 1.61 and a beta of 0.65. The company has a quick ratio of 4.74, a current ratio of 4.74 and a debt-to-equity ratio of 1.51.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last released its earnings results on Thursday, October 29th. The real estate investment trust reported $1.04 EPS for the quarter, beating the consensus estimate of $0.80 by $0.24. Gaming and Leisure Properties had a return on equity of 19.17% and a net margin of 59.01%. The company had revenue of $435.45 million during the quarter, compared to analysts' expectations of $436.30 million. During the same period in the prior year, the business posted $0.97 EPS. The business's revenue was up 9.5% on a year-over-year basis. Analysts forecast that Gaming and Leisure Properties, Inc. will post 4.03 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were issued a $0.82 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $3.28 annualized dividend and a yield of 8.3%. Gaming and Leisure Properties's dividend payout ratio is currently 96.19%.

Insider Buying and Selling

In related news, Director Earl C. Shanks acquired 10,000 shares of Gaming and Leisure Properties stock in a transaction on Tuesday, August 18th. The shares were purchased at an average cost of $42.24 per share, for a total transaction of $422,400.00. Following the purchase, the director directly owned 107,259 shares of the company's stock, valued at $4,530,620.16. The trade was a 10.28% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.11% of the stock is owned by company insiders.

Gaming and Leisure Properties News Summary

Here are the key news stories impacting Gaming and Leisure Properties this week:

• Positive Sentiment: Adjusted earnings exceeded expectations. GLPI reported third-quarter EPS of $1.04, well above the analyst consensus of $0.80. The company also reported record quarterly revenue of approximately $435.5 million, supporting the stock’s positive reaction. GLPI Third-Quarter Press Release
• Positive Sentiment: GLPI is expanding beyond gaming real estate. The REIT formed a joint venture with Prologis to develop the former Hollywood Casino Joliet site into an Illinois logistics park. The deal provides potential diversification and creates an opportunity to generate value from a former casino property through industrial real estate. GLPI Prologis Joint Venture Announcement
• Neutral Sentiment: Revenue narrowly missed forecasts. Quarterly revenue of $435.45 million was slightly below analysts’ estimate of $436.30 million, although the shortfall was modest and revenue still reached a company record.
• Negative Sentiment: Bottom-line profit declined. Reports highlighted a year-over-year retreat in third-quarter net income, which tempers the impact of the strong EPS beat. Investors may continue to monitor whether earnings growth is being driven by recurring property income or by nonrecurring items. GLPI Third-Quarter Net Income Report

Analyst Ratings Changes

Several research analysts have recently weighed in on GLPI shares. Morgan Stanley decreased their target price on shares of Gaming and Leisure Properties from $55.00 to $50.00 and set an "equal weight" rating for the company in a research note on Thursday, September 17th. Mizuho dropped their price target on shares of Gaming and Leisure Properties from $53.00 to $48.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 2nd. Stifel Nicolaus cut their price objective on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a "hold" rating on the stock in a report on Friday, July 31st. Citizens Jmp decreased 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. Finally, Wells Fargo & Company lowered their target price on Gaming and Leisure Properties from $43.00 to $40.00 and set an "equal weight" rating for the company in a research note on Monday, October 19th. Nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $47.69.

Gaming and Leisure Properties 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.

Want to see what other hedge funds are holding GLPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.