Gaming and Leisure Properties, Inc. $GLPI Shares Acquired by Allstate Corp

Key Points

• Allstate Corp significantly boosted its position in Gaming and Leisure Properties, increasing its stake by 381.2% in the fourth quarter to 84,537 shares valued at about $3.78 million.
• The company announced a higher quarterly dividend of $0.82 per share, up from $0.78, implying an annualized yield of 6.9% and reflecting a near-100% payout ratio.
• Analysts remain cautiously positive on GLPI, with multiple firms raising price targets and the stock holding a Moderate Buy consensus target of $52.50, above its recent trading price around $47.76.

Allstate Corp increased its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 381.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,537 shares of the real estate investment trust's stock after acquiring an additional 66,969 shares during the period. Allstate Corp's holdings in Gaming and Leisure Properties were worth $3,778,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in Gaming and Leisure Properties during the 4th quarter worth approximately $29,000. International Assets Investment Management LLC acquired a new position in Gaming and Leisure Properties during the 4th quarter worth approximately $31,000. True Wealth Design LLC grew its holdings in Gaming and Leisure Properties by 238.3% during the 4th quarter. True Wealth Design LLC now owns 866 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 610 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Gaming and Leisure Properties by 107.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 887 shares of the real estate investment trust's stock worth $41,000 after acquiring an additional 460 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Gaming and Leisure Properties by 48.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,212 shares of the real estate investment trust's stock worth $57,000 after acquiring an additional 394 shares in the last quarter. Institutional investors and hedge funds own 91.14% of the company's stock.

Insider Buying and Selling

In related news, CFO Desiree A. Burke sold 9,804 shares of the company's stock in a transaction on Friday, February 27th. The shares were sold at an average price of $49.02, for a total value of $480,592.08. Following the completion of the sale, the chief financial officer owned 128,352 shares in the company, valued at $6,291,815.04. This represents a 7.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on GLPI. Barclays boosted their price target on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an "overweight" rating in a report on Tuesday, April 21st. Royal Bank Of Canada upped their target price on shares of Gaming and Leisure Properties from $53.00 to $54.00 and gave the company an "outperform" rating in a report on Monday, February 23rd. Mizuho upped their target price on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an "outperform" rating in a report on Wednesday, March 11th. Stifel Nicolaus set a $50.00 target price on shares of Gaming and Leisure Properties in a report on Friday, April 24th. Finally, Weiss Ratings upgraded shares of Gaming and Leisure Properties from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, May 15th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $52.50.

Gaming and Leisure Properties Trading Down 0.3%

Shares of Gaming and Leisure Properties stock opened at $47.76 on Thursday. The company has a fifty day simple moving average of $46.73 and a 200-day simple moving average of $45.84. 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 market cap of $13.54 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 2.07 and a beta of 0.68. 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 (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 firm had revenue of $419.99 million during the quarter, compared to the consensus estimate of $417.15 million. During the same quarter in the prior year, the firm earned $0.96 EPS. Gaming and Leisure Properties's revenue for the quarter was up 6.3% on a year-over-year basis. Gaming and Leisure Properties has set its FY 2026 guidance at 4.080-4.120 EPS. On average, equities analysts forecast that Gaming and Leisure Properties, Inc. will post 4 EPS for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given a $0.82 dividend. 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. This represents a $3.28 annualized dividend and a yield of 6.9%. Gaming and Leisure Properties's payout ratio is currently 99.05%.

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.

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