Bank of New York Mellon Corp Has $116.61 Million Position in Gaming and Leisure Properties, Inc. $GLPI

Key Points

• Bank of New York Mellon reduced its stake in Gaming and Leisure Properties by 12.1% in the fourth quarter, but still held 2.61 million shares valued at about $116.6 million.
• GLPI reported better-than-expected quarterly results, with EPS of $0.82 versus the $0.76 estimate and revenue of $419.99 million, up 6.3% from a year earlier.
• The company raised its quarterly dividend to $0.82 per share, translating to an annualized yield of about 7.0%; analysts currently rate the stock a Moderate Buy with an average price target of $52.89.

Bank of New York Mellon Corp lessened its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,609,322 shares of the real estate investment trust's stock after selling 358,345 shares during the period. Bank of New York Mellon Corp owned about 0.92% of Gaming and Leisure Properties worth $116,611,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in shares of Gaming and Leisure Properties by 629.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,483,123 shares of the real estate investment trust's stock worth $110,971,000 after purchasing an additional 2,142,511 shares during the period. Westpac Banking Corp grew its holdings in Gaming and Leisure Properties by 16.6% in the 4th quarter. Westpac Banking Corp now owns 48,053 shares of the real estate investment trust's stock valued at $2,147,000 after buying an additional 6,840 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC bought a new position in Gaming and Leisure Properties during the 4th quarter worth $2,962,000. GW Henssler & Associates Ltd. bought a new position in Gaming and Leisure Properties during the 4th quarter worth $207,000. Finally, Easterly Investment Partners LLC acquired a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth $471,000. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Gaming and Leisure Properties Price Performance

Shares of NASDAQ GLPI opened at $47.17 on Monday. The company has a market cap of $13.37 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 2.04 and a beta of 0.66. The company has a current ratio of 6.29, a quick ratio of 6.29 and a debt-to-equity ratio of 1.62. Gaming and Leisure Properties, Inc. has a 12 month low of $41.17 and a 12 month high of $49.95. The stock has a 50-day moving average price of $46.76 and a two-hundred day moving average price of $45.93.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The real estate investment trust reported $0.82 EPS for the quarter, beating the consensus estimate of $0.76 by $0.06. The business had revenue of $419.99 million during the quarter, compared to the consensus estimate of $417.15 million. Gaming and Leisure Properties had a net margin of 55.56% and a return on equity of 18.06%. The firm's revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.96 EPS. Gaming and Leisure Properties has set its FY 2026 guidance at 4.080-4.120 EPS. As a group, analysts forecast that Gaming and Leisure Properties, Inc. will post 4 earnings per share for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 7.0%. This is a positive change from Gaming and Leisure Properties's previous quarterly dividend of $0.78. The ex-dividend date is Friday, June 12th. Gaming and Leisure Properties's dividend payout ratio is 99.05%.

Analysts Set New Price Targets

GLPI has been the topic of a number of analyst reports. Mizuho increased their target price on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 11th. Stifel Nicolaus set a $50.00 price target on shares of Gaming and Leisure Properties in a research report on Friday, April 24th. Royal Bank Of Canada increased their price target on Gaming and Leisure Properties from $53.00 to $54.00 and gave the stock an "outperform" rating in a research report on Monday, February 23rd. Weiss Ratings upgraded Gaming and Leisure Properties from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 15th. Finally, Barclays lifted their price objective on Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an "overweight" rating in a report on Tuesday, April 21st. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $52.89.

About Gaming and Leisure Properties

Gaming and Leisure Properties, Inc NASDAQ: GLPI is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.

The company's core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.

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.