Gaming and Leisure Properties, Inc. $GLPI Position Reduced by Corebridge Financial Inc.

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 shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 2.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GLPI. XTX Topco Ltd acquired a new stake in shares of Gaming and Leisure Properties during the 4th quarter valued at approximately $209,000. First Trust Advisors LP raised its position in shares of Gaming and Leisure Properties by 70.0% during the 4th quarter. First Trust Advisors LP now owns 210,619 shares of the real estate investment trust's stock valued at $10,143,000 after acquiring an additional 86,715 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Gaming and Leisure Properties by 21.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,572 shares of the real estate investment trust's stock valued at $702,000 after acquiring an additional 2,611 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Gaming and Leisure Properties by 6.5% during the fourth quarter. Stifel Financial Corp now owns 172,808 shares of the real estate investment trust's stock valued at $8,322,000 after purchasing an additional 10,494 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings in shares of Gaming and Leisure Properties by 36.9% during the fourth quarter. Voya Investment Management LLC now owns 263,842 shares of the real estate investment trust's stock valued at $12,707,000 after purchasing an additional 71,111 shares during the last quarter. 91.14% of the stock is owned by institutional investors and hedge funds.

Gaming and Leisure Properties Price Performance

GLPI stock traded up $0.03 on Friday, hitting $48.01. 2,326,360 shares of the company's stock traded hands, compared to its average volume of 1,651,835. The stock has a market cap of $13.59 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 10.44 and a beta of 0.71. 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 current ratio of 7.39, a quick ratio of 7.39 and a debt-to-equity ratio of 1.41. The stock has a fifty day moving average of $47.02 and a 200-day moving average of $47.82.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly 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). The business had revenue of $394.90 million during the quarter, compared to analyst estimates of $397.27 million. Gaming and Leisure Properties had a return on equity of 15.43% and a net margin of 46.32%.The company's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 EPS. Gaming and Leisure Properties has set its FY 2025 guidance at 3.850-3.87 EPS. On average, analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a $0.78 dividend. The ex-dividend date is Friday, September 12th. This represents a $3.12 annualized dividend and a yield of 6.5%. Gaming and Leisure Properties's payout ratio is 120.93%.

Insider Transactions at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 4,000 shares of Gaming and Leisure Properties stock in a transaction that occurred 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 in the company, valued at approximately $6,379,270.74. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GLPI shares. Macquarie reduced their target price on shares of Gaming and Leisure Properties from $60.00 to $59.00 and set an "outperform" rating for the company in a research note on Monday, July 28th. Stifel Nicolaus cut shares of Gaming and Leisure Properties from a "buy" rating to a "hold" rating and set a $51.25 price objective on the stock. in a research note on Monday, July 21st. Barclays cut their price objective 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. Scotiabank lifted 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 research note on Thursday. Finally, Royal Bank Of Canada lowered their price target on Gaming and Leisure Properties from $54.00 to $53.00 and set an "outperform" rating on the stock in a research report on Monday, July 28th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Gaming and Leisure Properties has a consensus rating of "Hold" and a consensus target price of $52.69.

Gaming and Leisure Properties Company 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.