Cohen & Steers Inc. Makes New Investment in Gaming and Leisure Properties, Inc. $GLPI

Key Points

• Cohen & Steers Inc. disclosed a new stake in Gaming and Leisure Properties, buying 7,008,837 shares worth about $313.2 million and ending the quarter with roughly 2.48% ownership.
• Gaming and Leisure Properties reported better-than-expected quarterly earnings of $0.82 per share, while revenue came in slightly above estimates and rose 6.3% year over year. The company also raised its full-year guidance outlook.
• The REIT increased its quarterly dividend to $0.82 per share from $0.78, implying an annualized dividend of $3.28 and a yield of about 6.9%, even as one director recently sold shares and analysts maintained a Moderate Buy consensus.

Cohen & Steers Inc. purchased a new position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,008,837 shares of the real estate investment trust's stock, valued at approximately $313,242,000. Cohen & Steers Inc. owned approximately 2.48% of Gaming and Leisure Properties at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Gaming and Leisure Properties by 2.4% during the third quarter. Vanguard Group Inc. now owns 37,905,759 shares of the real estate investment trust's stock worth $1,766,787,000 after acquiring an additional 899,273 shares in the last quarter. State Street Corp raised its position in Gaming and Leisure Properties by 2.7% during the third quarter. State Street Corp now owns 12,745,415 shares of the real estate investment trust's stock worth $594,064,000 after acquiring an additional 333,876 shares in the last quarter. Principal Financial Group Inc. raised its position in Gaming and Leisure Properties by 7.3% during the fourth quarter. Principal Financial Group Inc. now owns 7,764,876 shares of the real estate investment trust's stock worth $347,012,000 after acquiring an additional 525,317 shares in the last quarter. Geode Capital Management LLC raised its position in Gaming and Leisure Properties by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 7,682,453 shares of the real estate investment trust's stock worth $342,677,000 after acquiring an additional 258,596 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Gaming and Leisure Properties by 3.7% during the third quarter. Dimensional Fund Advisors LP now owns 4,107,048 shares of the real estate investment trust's stock worth $191,432,000 after acquiring an additional 147,375 shares in the last quarter. 91.14% of the stock is owned by institutional investors.

Gaming and Leisure Properties Trading Down 0.8%

GLPI stock opened at $47.47 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 6.29 and a current ratio of 6.29. The company's 50-day simple moving average is $47.09 and its 200 day simple moving average is $46.07. Gaming and Leisure Properties, Inc. has a 52 week low of $41.17 and a 52 week high of $49.95. The company has a market capitalization of $13.45 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 2.06 and a beta of 0.66.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last released its quarterly earnings results 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. Gaming and Leisure Properties had a net margin of 55.56% and a return on equity of 18.06%. The business had revenue of $419.99 million for the quarter, compared to the consensus estimate of $417.15 million. During the same period in the prior year, the company posted $0.96 earnings per share. Gaming and Leisure Properties's revenue was up 6.3% compared to the same quarter last year. Gaming and Leisure Properties has set its FY 2026 guidance at 4.080-4.120 EPS. As a group, sell-side analysts anticipate that Gaming and Leisure Properties, Inc. will post 4 earnings per share for the current year.

Gaming and Leisure Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a $0.82 dividend. The ex-dividend date is Friday, June 12th. This is a positive change from Gaming and Leisure Properties's previous quarterly dividend of $0.78. This represents a $3.28 dividend on an annualized basis and a dividend yield of 6.9%. Gaming and Leisure Properties's dividend payout ratio (DPR) is presently 99.05%.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 3,000 shares of Gaming and Leisure Properties stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $48.32, for a total value of $144,960.00. Following the completion of the sale, the director directly owned 127,429 shares in the company, valued at approximately $6,157,369.28. The trade was a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.11% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GLPI. Mizuho increased their price objective on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an "outperform" rating in a research report on Wednesday, March 11th. Barclays increased their price objective on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an "overweight" rating in a research report on Tuesday, April 21st. Royal Bank Of Canada increased their price objective on shares of Gaming and Leisure Properties from $53.00 to $54.00 and gave the company an "outperform" rating in a research report on Monday, February 23rd. Scotiabank increased their price objective on shares of Gaming and Leisure Properties from $50.00 to $52.00 and gave the company a "sector perform" rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings raised shares of Gaming and Leisure Properties from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, May 15th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $52.89.

Gaming and Leisure Properties Profile

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.

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