Allstate Corp Has $2.93 Million Position in Gaming and Leisure Properties, Inc. $GLPI

Key Points

• Allstate Corp reduced its stake in Gaming and Leisure Properties, Inc. by 22.7%, selling 16,907 shares, which left it with 57,477 shares valued at approximately $2.93 million.
• In the first quarter, several institutional investors increased their stakes in Gaming and Leisure Properties, with Compound Planning Inc. boosting its investment by 18%.
• Gaming and Leisure Properties reported $0.96 EPS for the last quarter, slightly missing analysts' estimates, while revenue increased by 3.8% year-over-year.

Allstate Corp reduced its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 22.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,477 shares of the real estate investment trust's stock after selling 16,907 shares during the quarter. Allstate Corp's holdings in Gaming and Leisure Properties were worth $2,926,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alpine Bank Wealth Management bought a new position in Gaming and Leisure Properties during the 1st quarter worth $26,000. Private Trust Co. NA bought a new position in Gaming and Leisure Properties during the first quarter worth about $28,000. TD Private Client Wealth LLC raised its stake in Gaming and Leisure Properties by 64.2% in the 1st quarter. TD Private Client Wealth LLC now owns 545 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 213 shares in the last quarter. Wayfinding Financial LLC bought a new stake in Gaming and Leisure Properties in the 1st quarter valued at about $33,000. Finally, Cullen Frost Bankers Inc. grew its position 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 worth $33,000 after purchasing an additional 618 shares in the last quarter. Institutional investors and hedge funds own 91.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GLPI. Stifel Nicolaus downgraded shares of Gaming and Leisure Properties from a "buy" rating to a "hold" rating and set a $51.25 price target for the company. in a research report on Monday, July 21st. Barclays dropped their price objective on Gaming and Leisure Properties from $55.00 to $51.00 and set an "equal weight" rating for the company in a report on Wednesday, August 20th. Royal Bank Of Canada reduced their target price on Gaming and Leisure Properties from $54.00 to $53.00 and set an "outperform" rating on the stock in a report on Monday, July 28th. Scotiabank dropped their price target on Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating for the company in a research note on Monday, May 12th. Finally, Wells Fargo & Company cut their price objective on shares of 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 equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Gaming and Leisure Properties has an average rating of "Hold" and a consensus price target of $52.52.

Gaming and Leisure Properties Price Performance

Shares of Gaming and Leisure Properties stock traded up $0.20 during trading on Wednesday, reaching $47.95. 2,268,883 shares of the company's stock were exchanged, compared to its average volume of 1,487,516. The company has a debt-to-equity ratio of 1.41, a quick ratio of 7.39 and a current ratio of 7.39. 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 market cap of $13.57 billion, a P/E ratio of 18.59, a PEG ratio of 10.41 and a beta of 0.71. The firm's 50-day moving average price is $46.93 and its 200 day moving average price is $47.83.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last released its earnings results on Thursday, July 24th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.97 by ($0.01). The business had revenue of $394.90 million during the quarter, compared to the consensus estimate of $397.27 million. Gaming and Leisure Properties had a net margin of 46.32% and a return on equity of 15.43%. The business's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 EPS. Gaming and Leisure Properties has set its FY 2025 guidance at 3.850-3.87 EPS. As a group, research analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current year.

Insider Transactions at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 4,000 shares of the 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 completion of 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 document filed with the Securities & Exchange Commission, which is available at this link. 4.26% of the stock is currently owned by corporate insiders.

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.