Corebridge Financial Inc. Sells 7,401 Shares of Gaming and Leisure Properties, Inc. $GLPI

Key Points

• Corebridge Financial Inc. sold 7,401 shares of Gaming and Leisure Properties, Inc. ($GLPI), reducing its ownership by 2.4% to 302,984 shares valued at approximately $15.4 million.
• Gaming and Leisure Properties' share price fell by 0.6%, and the company reported quarterly earnings per share of $0.96, slightly missing the consensus estimate.
• Recent price target adjustments by various brokerages have ranged from $48.00 to $55.00, with a consensus rating of "Hold" for $GLPI.

Corebridge Financial Inc. trimmed its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 302,984 shares of the real estate investment trust's stock after selling 7,401 shares during the quarter. Corebridge Financial Inc. owned approximately 0.11% of Gaming and Leisure Properties worth $15,422,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new position in Gaming and Leisure Properties in the first quarter valued at about $26,000. Private Trust Co. NA purchased a new position in Gaming and Leisure Properties in the first quarter valued at about $28,000. TD Private Client Wealth LLC boosted its stake in Gaming and Leisure Properties by 64.2% in 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 acquiring an additional 213 shares during the last quarter. Wayfinding Financial LLC purchased a new position in Gaming and Leisure Properties in the first quarter valued at about $33,000. Finally, Cullen Frost Bankers Inc. lifted its stake in shares of Gaming and Leisure Properties by 1,872.7% during the 1st quarter. Cullen Frost Bankers Inc. now owns 651 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 618 shares in the last quarter. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on GLPI shares. Barclays dropped their price target on shares of Gaming and Leisure Properties from $55.00 to $51.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 20th. Mizuho dropped their price target on shares of Gaming and Leisure Properties from $53.00 to $48.00 and set a "neutral" rating on the stock in a research note on Monday, June 16th. Royal Bank Of Canada dropped their price target on shares of Gaming and Leisure Properties from $54.00 to $53.00 and set an "outperform" rating on the stock in a research note on Monday, July 28th. Wells Fargo & Company dropped their price target on shares of Gaming and Leisure Properties from $51.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Monday, June 2nd. Finally, Stifel Nicolaus cut shares of Gaming and Leisure Properties from a "buy" rating to a "hold" rating and set a $51.25 price target on the stock. in a research note on Monday, July 21st. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $52.69.

Insider Activity at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 4,000 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $46.58, for a total value of $186,320.00. Following the transaction, the director owned 136,953 shares of the company's stock, valued at $6,379,270.74. This represents a 2.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.26% of the stock is owned by insiders.

Gaming and Leisure Properties Price Performance

NASDAQ GLPI traded up $0.03 on Thursday, hitting $47.98. The stock had a trading volume of 1,130,562 shares, compared to its average volume of 1,695,519. Gaming and Leisure Properties, Inc. has a 52-week low of $44.48 and a 52-week high of $52.60. The company has a debt-to-equity ratio of 1.41, a quick ratio of 7.39 and a current ratio of 7.39. The company has a market capitalization of $13.58 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 10.43 and a beta of 0.71. The firm 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 earnings results 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 return on equity of 15.43% and a net margin of 46.32%.The firm had revenue of $394.90 million during the quarter, compared to analysts' expectations of $397.27 million. During the same quarter in the prior year, the company earned $0.94 earnings per share. The business's revenue for the quarter 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 analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Profile

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.