Hsbc Holdings PLC Sells 412,378 Shares of Gaming and Leisure Properties, Inc. $GLPI

Key Points

• Hsbc Holdings PLC reduced its stake in Gaming and Leisure Properties, Inc. by 51.5%, selling 412,378 shares and now holds 387,711 shares valued at approximately $19.7 million.
• Other institutional investors have also adjusted their positions in Gaming and Leisure Properties, with several acquiring new stakes, contributing to a total of 91.14% of the stock now owned by institutional investors.
• Gaming and Leisure Properties reported earnings per share (EPS) of $0.96 for the last quarter, slightly missing analysts' expectations, and has set its FY 2025 guidance at 3.850-3.87 EPS.

Hsbc Holdings PLC reduced its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 51.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 387,711 shares of the real estate investment trust's stock after selling 412,378 shares during the quarter. Hsbc Holdings PLC owned 0.14% of Gaming and Leisure Properties worth $19,732,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alpine Bank Wealth Management bought a new stake in shares of Gaming and Leisure Properties during the first quarter worth about $26,000. TD Private Client Wealth LLC increased its position in shares of Gaming and Leisure Properties by 64.2% during the first quarter. TD Private Client Wealth LLC now owns 545 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 213 shares in the last quarter. Private Trust Co. NA bought a new stake in shares of Gaming and Leisure Properties during the first quarter worth about $28,000. Cullen Frost Bankers Inc. increased its position in shares of Gaming and Leisure Properties by 1,872.7% during the first quarter. Cullen Frost Bankers Inc. now owns 651 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 618 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new stake in shares of Gaming and Leisure Properties during the first quarter worth about $33,000. 91.14% of the stock is owned by institutional investors.

Insider Buying and Selling at Gaming and Leisure Properties

In other 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 transaction of $186,320.00. Following the completion of the transaction, the director directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Scotiabank boosted their target price on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a "sector perform" rating in a research report on Thursday. Wells Fargo & Company decreased their target price 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. Royal Bank Of Canada decreased their target price on shares of Gaming and Leisure Properties from $54.00 to $53.00 and set an "outperform" rating for the company in a research report on Monday, July 28th. Mizuho cut their price target on shares of Gaming and Leisure Properties from $53.00 to $48.00 and set a "neutral" rating on the stock in a report on Monday, June 16th. Finally, Stifel Nicolaus cut shares of Gaming and Leisure Properties from a "buy" rating to a "hold" rating and set a $51.25 price target on the stock. in a report on Monday, July 21st. Five 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, the company currently has an average rating of "Hold" and an average price target of $52.69.

Gaming and Leisure Properties Stock Performance

Shares of Gaming and Leisure Properties stock traded down $0.02 on Friday, reaching $47.97. 209,543 shares of the company traded hands, compared to its average volume of 1,477,342. Gaming and Leisure Properties, Inc. has a 52 week low of $44.48 and a 52 week high of $52.60. The company has a 50 day moving average of $46.99 and a 200 day moving average of $47.83. The firm has a market capitalization of $13.57 billion, a PE ratio of 18.60, a PEG ratio of 10.43 and a beta of 0.71. The company has a debt-to-equity ratio of 1.41, a current ratio of 7.39 and a quick ratio of 7.39.

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 for the quarter, missing analysts' consensus estimates of $0.97 by ($0.01). Gaming and Leisure Properties had a net margin of 46.32% and a return on equity of 15.43%. The company had revenue of $394.90 million for the quarter, compared to the consensus estimate of $397.27 million. During the same period in the prior year, the company earned $0.94 earnings per share. The firm's revenue was up 3.8% on a year-over-year basis. Gaming and Leisure Properties has set its FY 2025 guidance at 3.850-3.87 EPS. Equities analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.5%. Gaming and Leisure Properties's dividend payout ratio is currently 120.93%.

About Gaming and Leisure Properties

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.