Geode Capital Management LLC Buys 258,596 Shares of Gaming and Leisure Properties, Inc. $GLPI

Key Points

• Geode Capital Management increased its stake in Gaming and Leisure Properties by 3.5% in the fourth quarter, adding 258,596 shares to bring its total holdings to 7.68 million shares worth about $342.7 million.
• Wall Street remains cautiously bullish on GLPI, with six Buy ratings and five Hold ratings, and a consensus price target of $52.89 after several analysts raised their targets.
• The REIT reported better-than-expected quarterly earnings of $0.82 per share and raised its quarterly dividend to $0.82 per share, implying a 7.0% annual yield.

Geode Capital Management LLC lifted its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,682,453 shares of the real estate investment trust's stock after acquiring an additional 258,596 shares during the period. Geode Capital Management LLC owned 2.71% of Gaming and Leisure Properties worth $342,677,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GLPI. First Trust Advisors LP raised its position in shares of Gaming and Leisure Properties by 78.7% in the 2nd quarter. First Trust Advisors LP now owns 283,963 shares of the real estate investment trust's stock worth $13,255,000 after acquiring an additional 125,098 shares in the last quarter. Cerity Partners LLC raised its position in shares of Gaming and Leisure Properties by 18.6% in the 2nd quarter. Cerity Partners LLC now owns 10,233 shares of the real estate investment trust's stock worth $478,000 after acquiring an additional 1,608 shares in the last quarter. Bank of Nova Scotia grew its stake in Gaming and Leisure Properties by 16.6% during the 2nd quarter. Bank of Nova Scotia now owns 18,603 shares of the real estate investment trust's stock worth $868,000 after buying an additional 2,646 shares during the last quarter. AXA S.A. increased its position in Gaming and Leisure Properties by 478.5% during the 2nd quarter. AXA S.A. now owns 39,543 shares of the real estate investment trust's stock valued at $1,846,000 after buying an additional 32,708 shares in the last quarter. Finally, Squarepoint Ops LLC increased its position in Gaming and Leisure Properties by 276.2% during the 2nd quarter. Squarepoint Ops LLC now owns 70,459 shares of the real estate investment trust's stock valued at $3,289,000 after buying an additional 51,731 shares in the last quarter. 91.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Scotiabank upped their target price on Gaming and Leisure Properties from $50.00 to $52.00 and gave the company a "sector perform" rating in a research report on Tuesday, May 12th. Royal Bank Of Canada upped their target price on Gaming and Leisure Properties from $53.00 to $54.00 and gave the company an "outperform" rating in a research report on Monday, February 23rd. Stifel Nicolaus set a $50.00 target price on Gaming and Leisure Properties in a research report on Friday, April 24th. Mizuho upped their target price on Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an "outperform" rating in a research report on Wednesday, March 11th. Finally, Weiss Ratings raised Gaming and Leisure Properties from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, May 15th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $52.89.

Gaming and Leisure Properties Stock Down 0.4%

Shares of GLPI opened at $46.80 on Tuesday. Gaming and Leisure Properties, Inc. has a 52 week low of $41.17 and a 52 week high of $49.95. The company has a quick ratio of 6.29, a current ratio of 6.29 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $13.26 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 2.03 and a beta of 0.66. The stock's 50-day moving average price is $46.72 and its 200-day moving average price is $45.88.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last issued its earnings results on Thursday, April 23rd. The real estate investment trust reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.06. Gaming and Leisure Properties had a return on equity of 18.06% and a net margin of 55.56%.The firm had revenue of $419.99 million for the quarter, compared to the consensus estimate of $417.15 million. During the same quarter in the prior year, the business earned $0.96 earnings per share. The company's revenue was up 6.3% compared to the same quarter last year. Gaming and Leisure Properties has set its FY 2026 guidance at 4.080-4.120 EPS. On average, sell-side analysts predict that Gaming and Leisure Properties, Inc. will post 4 EPS for the current year.

Gaming and Leisure Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be given a dividend of $0.82 per share. This is an increase from Gaming and Leisure Properties's previous quarterly dividend of $0.78. This represents a $3.28 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date is Friday, June 12th. Gaming and Leisure Properties's dividend payout ratio (DPR) 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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