Gaming and Leisure Properties, Inc. $GLPI Stake Reduced by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its GLPI stake by 21.5% in the third quarter, selling 427,775 shares; it retained 1.56 million shares worth about $59.2 million.
• Analysts give GLPI a consensus “Moderate Buy” rating, with an average price target of $47.69. Nine analysts rate it Buy and seven rate it Hold.
• GLPI reported quarterly EPS of $0.71, below the $0.80 consensus, while revenue rose 9.5% year over year to $435.45 million. Its annualized dividend is $3.28 per share, a stated yield of 8.4%.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 21.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,558,291 shares of the real estate investment trust's stock after selling 427,775 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.54% of Gaming and Leisure Properties worth $59,168,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GLPI. Pension & Wealth Management Advisors Inc. acquired a new stake in shares of Gaming and Leisure Properties in the third quarter valued at approximately $29,000. Mather Group LLC. boosted its stake in shares of Gaming and Leisure Properties by 54.2% during the 3rd quarter. Mather Group LLC. now owns 799 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 281 shares during the period. Root Financial Partners LLC bought a new position in shares of Gaming and Leisure Properties during the 3rd quarter worth approximately $30,000. Markowski Investments acquired a new position in shares of Gaming and Leisure Properties during the 2nd quarter worth approximately $35,000. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Gaming and Leisure Properties by 115.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 794 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 425 shares during the last quarter. Institutional investors own 91.14% of the company's stock.

Insider Activity at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director Earl C. Shanks purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were acquired at an average cost of $42.24 per share, with a total value of $422,400.00. Following the completion of 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.11% of the company's stock.

Wall Street Analyst Weigh In

GLPI has been the subject of several research reports. JPMorgan Chase & Co. downgraded Gaming and Leisure Properties from an "overweight" rating to a "neutral" rating and set a $46.00 price target for the company. in a report on Thursday, September 24th. Citigroup reiterated a "market outperform" rating on shares of Gaming and Leisure Properties in a report on Friday, October 2nd. Royal Bank Of Canada cut their target price on shares of Gaming and Leisure Properties from $54.00 to $52.00 and set an "outperform" rating for the company in a research note on Monday, August 3rd. Morgan Stanley reduced their target price on shares of Gaming and Leisure Properties from $55.00 to $50.00 and set an "equal weight" rating for the company in a report on Thursday, September 17th. Finally, Citizens Jmp decreased their price target on shares of Gaming and Leisure Properties from $55.00 to $49.00 and set a "market outperform" rating on the stock in a research note on Friday, October 2nd. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $47.69.

Gaming and Leisure Properties Stock Performance

GLPI opened at $39.17 on Wednesday. The business has a fifty day simple moving average of $39.73 and a 200 day simple moving average of $44.44. The company has a market capitalization of $11.40 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 1.64 and a beta of 0.64. Gaming and Leisure Properties, Inc. has a 1 year low of $37.33 and a 1 year high of $49.95. The company has a debt-to-equity ratio of 1.52, a current ratio of 5.38 and a quick ratio of 5.38.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). The firm had revenue of $435.45 million for the quarter, compared to the consensus estimate of $436.30 million. Gaming and Leisure Properties had a return on equity of 18.16% and a net margin of 55.71%. The firm's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 EPS. Research analysts expect that Gaming and Leisure Properties, Inc. will post 4.03 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were paid a $0.82 dividend. The ex-dividend date was Friday, September 11th. This represents a $3.28 annualized dividend and a dividend yield of 8.4%. Gaming and Leisure Properties's dividend payout ratio is 100.31%.

Gaming and Leisure Properties Profile

Gaming and Leisure Properties, Inc NASDAQ: GLPI is a real estate investment trust that owns and leases gaming and entertainment properties. The company primarily operates as a landlord, generating rental income through long-term agreements with casino operators rather than directly managing most of the gaming facilities located on its properties.

GLPI's portfolio includes casinos, resorts, racetracks and related entertainment facilities across the United States. Its leases are generally structured as triple-net agreements, under which tenants are typically responsible for property-level expenses such as maintenance, insurance and real estate taxes.

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