Gaming and Leisure Properties, Inc. $GLPI Shares Sold by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its Gaming and Leisure Properties stake by 78.7% in the second quarter, selling 361,860 shares and retaining 98,027 shares valued at approximately $4.4 million.
• Institutional ownership remains high at 91.14%, with BlackRock initiating a roughly $1.6 billion position and California State Teachers Retirement System significantly increasing its stake.
• GLPI reported quarterly revenue of $430.52 million and EPS of $0.80, while declaring a quarterly dividend of $0.82 per share, equivalent to an annualized yield of about 8.2%. Analysts maintain a “Moderate Buy” consensus with a $49.27 price target.

Engineers Gate Manager LP reduced its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 78.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,027 shares of the real estate investment trust's stock after selling 361,860 shares during the period. Engineers Gate Manager LP's holdings in Gaming and Leisure Properties were worth $4,365,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Gaming and Leisure Properties in the 2nd quarter valued at approximately $1,596,811,000. California State Teachers Retirement System raised its stake in shares of Gaming and Leisure Properties by 2,755.7% during 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. State Street Corp raised its stake in shares of Gaming and Leisure Properties by 1.2% during the 4th quarter. State Street Corp now owns 12,893,098 shares of the real estate investment trust's stock worth $576,193,000 after buying an additional 147,683 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Gaming and Leisure Properties by 1.7% in the 4th quarter. Wellington Management Group LLP now owns 11,592,034 shares of the real estate investment trust's stock valued at $518,048,000 after buying an additional 198,582 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Gaming and Leisure Properties by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 7,682,453 shares of the real estate investment trust's stock valued at $342,677,000 after buying an additional 258,596 shares during the period. Institutional investors and hedge funds own 91.14% of the company's stock.

Gaming and Leisure Properties Price Performance

Shares of NASDAQ GLPI opened at $40.24 on Friday. 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 company's 50-day moving average price is $43.42 and its 200 day moving average price is $45.63. Gaming and Leisure Properties, Inc. has a 52 week low of $40.01 and a 52 week high of $49.95. The stock has a market cap of $11.71 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.68 and a beta of 0.65.

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

Gaming and Leisure Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $3.28 dividend on an annualized basis and a yield of 8.2%. Gaming and Leisure Properties's dividend payout ratio is presently 96.19%.

Insider Transactions at Gaming and Leisure Properties

In related news, Director Earl C. Shanks bought 10,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were purchased at an average price of $42.24 per share, for a total transaction of $422,400.00. Following the acquisition, the director owned 107,259 shares in the company, valued at $4,530,620.16. This represents a 10.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 4.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Barclays decreased their price target on Gaming and Leisure Properties from $53.00 to $50.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 22nd. Scotiabank raised their target price on Gaming and Leisure Properties from $49.00 to $50.00 and gave the company a "sector perform" rating in a report on Thursday, August 13th. JPMorgan Chase & Co. lowered their price target on shares of Gaming and Leisure Properties from $53.00 to $51.00 and set an "overweight" rating on the stock in a research note on Tuesday, June 30th. Cantor Fitzgerald decreased 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 report on Monday, August 10th. Finally, Raymond James Financial restated an "outperform" rating and set a $47.00 target price on shares of Gaming and Leisure Properties in a research report on Thursday, August 13th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $49.27.

About Gaming and Leisure Properties

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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