Everstar Asset Management LLC Makes New $2.60 Million Investment in Gaming and Leisure Properties, Inc. $GLPI

Key Points

• Everstar Asset Management LLC invested approximately $2.60 million in Gaming and Leisure Properties, purchasing 51,113 shares of the real estate investment trust.
• Multiple large investors have increased their stakes, with Wellington Management Group raising theirs by 3.1% and Invesco Ltd. significantly increasing theirs by 127.7%.
• Gaming and Leisure Properties declared a quarterly dividend of $0.78 per share, resulting in an annualized dividend yield of 6.4%.

Everstar Asset Management LLC bought a new stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 51,113 shares of the real estate investment trust's stock, valued at approximately $2,602,000.

Several other hedge funds have also modified their holdings of the stock. Cetera Investment Advisers increased its holdings in Gaming and Leisure Properties by 9.5% during the 4th quarter. Cetera Investment Advisers now owns 61,800 shares of the real estate investment trust's stock worth $2,976,000 after purchasing an additional 5,383 shares during the last quarter. Focus Partners Wealth increased its holdings in Gaming and Leisure Properties by 549.8% during the 4th quarter. Focus Partners Wealth now owns 31,381 shares of the real estate investment trust's stock worth $1,511,000 after purchasing an additional 26,552 shares during the last quarter. Lighthouse Investment Partners LLC increased its holdings in Gaming and Leisure Properties by 60.0% during the 4th quarter. Lighthouse Investment Partners LLC now owns 160,000 shares of the real estate investment trust's stock worth $7,706,000 after purchasing an additional 60,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Gaming and Leisure Properties by 3.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 427,584 shares of the real estate investment trust's stock worth $20,592,000 after purchasing an additional 12,276 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Gaming and Leisure Properties by 334.8% during the 4th quarter. Millennium Management LLC now owns 245,064 shares of the real estate investment trust's stock worth $11,802,000 after purchasing an additional 188,702 shares during the last quarter. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Stock Performance

NASDAQ:GLPI traded down $0.36 during midday trading on Friday, reaching $48.05. 2,422,022 shares of the company traded hands, compared to its average volume of 1,986,190. Gaming and Leisure Properties, Inc. has a twelve month low of $44.48 and a twelve month high of $52.27. The firm has a market capitalization of $13.60 billion, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 10.53 and a beta of 0.73. The company has a debt-to-equity ratio of 1.41, a current ratio of 7.39 and a quick ratio of 7.39. The company has a fifty day moving average price of $47.18 and a 200 day moving average price of $47.74.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.96 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.01). Gaming and Leisure Properties had a net margin of 46.32% and a return on equity of 15.43%. The firm had revenue of $394.90 million during the quarter, compared to analyst estimates of $397.27 million. During the same quarter in the previous year, the business posted $0.94 EPS. Gaming and Leisure Properties'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. On average, analysts expect 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 dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date is Friday, September 12th. 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 3,000 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $46.54, for a total transaction of $139,620.00. Following the completion of the transaction, the director owned 133,953 shares in the company, valued at approximately $6,234,172.62. The trade was a 2.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.26% of the company's stock.

Analyst Upgrades and Downgrades

GLPI has been the topic of several analyst reports. Scotiabank lifted their price objective on Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a "sector perform" rating in a report on Thursday, August 28th. Mizuho lifted their price objective on Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday. Macquarie decreased their target price on Gaming and Leisure Properties from $60.00 to $59.00 and set an "outperform" rating for the company in a research report on Monday, July 28th. Stifel Nicolaus lowered Gaming and Leisure Properties from a "buy" rating to a "hold" rating and set a $51.25 target price for the company. in a research report on Monday, July 21st. Finally, Wells Fargo & Company decreased their target price on Gaming and Leisure Properties from $51.00 to $49.00 and set an "equal weight" rating for the company in a research report on Monday, June 2nd. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $52.85.

About Gaming and Leisure Properties

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.