Lecap Asset Management Ltd. Cuts Stock Position in Gaming and Leisure Properties, Inc. $GLPI

Key Points

• Lecap Asset Management Ltd. reduced its stake in Gaming and Leisure Properties, Inc. by 28.6%, owning 25,315 shares worth approximately $1.182 million after selling 10,139 shares in the second quarter.
• Gaming and Leisure Properties reported a quarterly earnings per share (EPS) of $0.96, missing the consensus estimate by $0.01, while revenues reached $394.90 million, falling short of expectations.
• The company declared a quarterly dividend of $0.78 per share, representing a 6.6% dividend yield, although it has a high dividend payout ratio of 120.93%.

Lecap Asset Management Ltd. cut its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 28.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,315 shares of the real estate investment trust's stock after selling 10,139 shares during the period. Lecap Asset Management Ltd.'s holdings in Gaming and Leisure Properties were worth $1,182,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Alpine Bank Wealth Management purchased a new stake in Gaming and Leisure Properties during the first quarter worth about $26,000. Private Trust Co. NA purchased a new stake in Gaming and Leisure Properties during the first quarter worth about $28,000. TD Private Client Wealth LLC increased its stake in 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 purchasing an additional 213 shares during the period. V Square Quantitative Management LLC purchased a new stake in Gaming and Leisure Properties during the second quarter worth about $30,000. Finally, Wayfinding Financial LLC purchased a new stake in Gaming and Leisure Properties during the first quarter worth about $33,000. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Stock Performance

Shares of Gaming and Leisure Properties stock opened at $47.14 on Thursday. The firm has a market capitalization of $13.34 billion, a P/E ratio of 18.27, a P/E/G ratio of 10.13 and a beta of 0.75. Gaming and Leisure Properties, Inc. has a 52 week low of $44.48 and a 52 week high of $52.27. The company has a quick ratio of 7.39, a current ratio of 7.39 and a debt-to-equity ratio of 1.41. The firm's 50 day moving average is $46.98 and its two-hundred day moving average is $47.46.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.96 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.01). The company had revenue of $394.90 million during the quarter, compared to analysts' expectations of $397.27 million. Gaming and Leisure Properties had a net margin of 46.32% and a return on equity of 15.43%. The business's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior 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. Research analysts forecast 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 was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a dividend of $0.78 per share. The ex-dividend date was Friday, September 12th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.6%. Gaming and Leisure Properties's dividend payout ratio (DPR) is 120.93%.

Analysts Set New Price Targets

A number of analysts have issued reports on GLPI shares. Scotiabank boosted 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. Mizuho upped their target price on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a "neutral" rating in a research note on Thursday, September 11th. Royal Bank Of Canada cut their target price 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. Macquarie cut their target price on shares of Gaming and Leisure Properties from $60.00 to $59.00 and set an "outperform" rating on the stock in a research note on Monday, July 28th. Finally, Barclays cut their target price 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. Five analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $52.71.

Insider Activity

In other news, Director E Scott Urdang sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $46.54, for a total transaction of $139,620.00. Following the transaction, the director directly owned 133,953 shares in the company, valued at approximately $6,234,172.62. This trade represents a 2.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.26% of the company's stock.

Gaming and Leisure Properties 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.