Ieq Capital LLC Trims Stake in Gaming and Leisure Properties, Inc. $GLPI

Key Points

• Ieq Capital LLC has reduced its stake in Gaming and Leisure Properties, Inc. by 12.4%, selling 9,992 shares during the first quarter, and now owns 70,413 shares valued at approximately $3.58 million.
• The company missed analysts' expectations with an EPS of $0.96 for the latest quarter, falling short of the consensus estimate of $0.97, although it reported a 3.8% year-over-year increase in revenue.
• Gaming and Leisure Properties recently announced a quarterly dividend of $0.78 to be paid in September, representing a 6.5% yield, though its dividend payout ratio is above 120%.

Ieq Capital LLC cut its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 12.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,413 shares of the real estate investment trust's stock after selling 9,992 shares during the period. Ieq Capital LLC's holdings in Gaming and Leisure Properties were worth $3,584,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP boosted its position in shares of Gaming and Leisure Properties by 3.1% during the first quarter. Wellington Management Group LLP now owns 11,556,825 shares of the real estate investment trust's stock valued at $588,242,000 after buying an additional 349,065 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Gaming and Leisure Properties by 1.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,766,108 shares of the real estate investment trust's stock worth $242,597,000 after purchasing an additional 77,562 shares during the last quarter. Invesco Ltd. boosted its holdings in Gaming and Leisure Properties by 127.7% in the first quarter. Invesco Ltd. now owns 4,512,234 shares of the real estate investment trust's stock worth $229,673,000 after purchasing an additional 2,530,463 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Gaming and Leisure Properties by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,293,551 shares of the real estate investment trust's stock worth $167,642,000 after purchasing an additional 10,092 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Gaming and Leisure Properties in the first quarter worth approximately $151,723,000. 91.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director E Scott Urdang sold 3,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $46.54, for a total transaction of $139,620.00. Following the sale, the director directly owned 133,953 shares in the company, valued at approximately $6,234,172.62. This represents a 2.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.26% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wells Fargo & Company dropped their target price on Gaming and Leisure Properties from $51.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Monday, June 2nd. Scotiabank lifted their price target on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 28th. Barclays dropped their price target on shares of Gaming and Leisure Properties from $55.00 to $51.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 20th. 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 research note on Monday, July 21st. Finally, Royal Bank Of Canada dropped their price target on shares of Gaming and Leisure Properties from $54.00 to $53.00 and set an "outperform" rating on the stock in a research note on Monday, July 28th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Gaming and Leisure Properties currently has a consensus rating of "Hold" and an average price target of $52.69.

Gaming and Leisure Properties Price Performance

NASDAQ GLPI traded up $0.26 during trading hours on Thursday, reaching $48.09. The company's stock had a trading volume of 823,470 shares, compared to its average volume of 1,493,546. The firm's 50-day moving average price is $47.07 and its 200-day moving average price is $47.80. The company has a quick ratio of 7.39, a current ratio of 7.39 and a debt-to-equity ratio of 1.41. 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 capitalization of $13.61 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 10.44 and a beta of 0.73.

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

Gaming and Leisure Properties Announces Dividend

The firm 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 annualized dividend and a dividend yield of 6.5%. The ex-dividend date is Friday, September 12th. Gaming and Leisure Properties's dividend payout ratio is currently 120.93%.

Gaming and Leisure Properties Company 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.