Gaming and Leisure Properties, Inc. $GLPI Shares Acquired by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company increased its GLPI stake by 29.9% in the second quarter, bringing its holdings to 472,446 shares worth approximately $21.0 million. Institutional investors and hedge funds collectively own 91.14% of the company.
• Analyst sentiment remains mixed, with GLPI carrying a consensus “Moderate Buy” rating and an average price target of $49.27, despite several firms recently lowering their targets.
• GLPI reported quarterly revenue of $430.52 million, up 9% year over year, while matching earnings expectations at $0.80 per share. The REIT declared a quarterly dividend of $0.82 per share, representing an annualized yield of about 8.2%.

The Manufacturers Life Insurance Company increased its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 29.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 472,446 shares of the real estate investment trust's stock after purchasing an additional 108,741 shares during the period. The Manufacturers Life Insurance Company owned 0.16% of Gaming and Leisure Properties worth $21,038,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Gaming and Leisure Properties during the 2nd quarter valued at $1,596,811,000. California State Teachers Retirement System raised its stake in shares of Gaming and Leisure Properties by 2,755.7% in the 2nd quarter. California State Teachers Retirement System now owns 18,121,617 shares of the real estate investment trust's stock worth $806,956,000 after buying an additional 17,487,046 shares in the last quarter. Cohen & Steers Inc. bought a new stake in shares of Gaming and Leisure Properties in the 4th quarter worth $313,242,000. Norges Bank bought a new stake in shares of Gaming and Leisure Properties in the 4th quarter worth $167,743,000. Finally, Deutsche Bank AG acquired a new stake in shares of Gaming and Leisure Properties in the second quarter valued at $151,300,000. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GLPI has been the subject of several research reports. Morgan Stanley raised their target price on Gaming and Leisure Properties from $53.00 to $55.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. Weiss Ratings cut shares of Gaming and Leisure Properties from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, August 12th. Wells Fargo & Company cut their price target on shares of Gaming and Leisure Properties from $45.00 to $43.00 and set an "equal weight" rating for the company in a report on Tuesday, September 1st. Cantor Fitzgerald lowered their price objective on shares of Gaming and Leisure Properties from $52.00 to $48.00 and set a "neutral" rating on the stock in a research note on Monday, August 10th. Finally, JPMorgan Chase & Co. cut their target price on shares of Gaming and Leisure Properties from $53.00 to $51.00 and set an "overweight" rating for the company in a research note on Tuesday, June 30th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $49.27.

Insider Activity at Gaming and Leisure Properties

In other news, Director Earl C. Shanks purchased 10,000 shares of Gaming and Leisure Properties stock in a transaction that occurred on Tuesday, August 18th. The stock was acquired at an average price of $42.24 per share, for a total transaction of $422,400.00. Following the transaction, the director owned 107,259 shares in the company, valued at $4,530,620.16. The trade was a 10.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.11% of the company's stock.

Gaming and Leisure Properties Trading Down 1.8%

Shares of GLPI opened at $40.24 on Friday. The business's 50-day moving average price is $43.42 and its 200 day moving average price is $45.63. The company has a current ratio of 4.74, a quick ratio of 4.74 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $11.71 billion, a P/E ratio of 11.80, a P/E/G ratio of 1.68 and a beta of 0.65. Gaming and Leisure Properties, Inc. has a 1-year low of $40.01 and a 1-year high of $49.95.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.80 EPS for the quarter, meeting analysts' consensus estimates of $0.80. Gaming and Leisure Properties had a net margin of 59.01% and a return on equity of 19.17%. The company had revenue of $430.52 million during the quarter, compared to analyst estimates of $428.51 million. During the same period in the prior year, the firm earned $0.96 earnings per share. The business's quarterly revenue was up 9.0% on a year-over-year basis. Gaming and Leisure Properties has set its FY 2026 guidance at 4.100-4.120 EPS. Analysts expect that Gaming and Leisure Properties, Inc. will post 4.03 earnings per share for the current year.

Gaming and Leisure Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a dividend of $0.82 per share. The ex-dividend date is Friday, September 11th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 8.2%. Gaming and Leisure Properties's payout ratio is currently 96.19%.

Gaming and Leisure Properties Profile

Gaming and Leisure Properties, Inc NASDAQ: GLPI is a real estate investment trust that owns, acquires and leases gaming-related properties. Its portfolio primarily consists of casinos and other properties used for gaming, entertainment and hospitality activities.

GLPI generally leases its properties to gaming operators under long-term, triple-net lease agreements. Under these arrangements, tenants typically operate the properties and are responsible for expenses such as maintenance, insurance and property taxes, while GLPI focuses on owning and managing the underlying real estate.

The company was established in 2013 through the spin-off of gaming properties from Penn National Gaming, now known as PENN Entertainment.

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