Park Avenue Securities LLC Purchases Shares of 10,353 Gaming and Leisure Properties, Inc. $GLPI

Key Points

• Park Avenue Securities LLC acquired a new stake by purchasing 10,353 shares of Gaming and Leisure Properties, valued at approximately $483,000.
• A significant majority of the company's stock, about 91.14%, is owned by institutional investors and hedge funds, reflecting strong institutional interest.
• The company recently reported $0.96 EPS for the quarter, slightly below analysts' expectations, and announced a quarterly dividend of $0.78 per share, resulting in a 6.7% dividend yield.

Park Avenue Securities LLC purchased a new stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,353 shares of the real estate investment trust's stock, valued at approximately $483,000.

A number of other institutional investors have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Gaming and Leisure Properties by 6.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,330 shares of the real estate investment trust's stock valued at $594,000 after purchasing an additional 744 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Gaming and Leisure Properties by 361.6% in the first quarter. Versant Capital Management Inc now owns 4,205 shares of the real estate investment trust's stock valued at $214,000 after purchasing an additional 3,294 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Gaming and Leisure Properties by 6,600.2% in the first quarter. GAMMA Investing LLC now owns 189,348 shares of the real estate investment trust's stock valued at $9,638,000 after purchasing an additional 186,522 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Gaming and Leisure Properties by 92.0% in the first quarter. Parallel Advisors LLC now owns 4,127 shares of the real estate investment trust's stock valued at $210,000 after purchasing an additional 1,978 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Gaming and Leisure Properties by 0.3% in the first quarter. Rhumbline Advisers now owns 823,472 shares of the real estate investment trust's stock valued at $41,915,000 after purchasing an additional 2,284 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GLPI. Mizuho lifted their price objective on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a "neutral" rating in a report on Thursday, September 11th. Wells Fargo & Company dropped their price objective on shares of Gaming and Leisure Properties from $51.00 to $49.00 and set an "equal weight" rating for the company in a report on Monday, June 2nd. Barclays dropped their price objective on shares of Gaming and Leisure Properties from $55.00 to $51.00 and set an "equal weight" rating for the company in a report on Wednesday, August 20th. Royal Bank Of Canada dropped their price objective on shares of Gaming and Leisure Properties from $54.00 to $53.00 and set an "outperform" rating for the company in a report on Monday, July 28th. Finally, Stifel Nicolaus downgraded shares of Gaming and Leisure Properties from a "buy" rating to a "hold" rating and set a $51.25 price target for the company. in a research note on Monday, July 21st. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $52.85.

Gaming and Leisure Properties Stock Down 0.0%

Shares of Gaming and Leisure Properties stock opened at $46.87 on Tuesday. 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 50 day moving average of $46.99 and a 200 day moving average of $47.47. 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 company has a market capitalization of $13.26 billion, a P/E ratio of 18.17, a P/E/G ratio of 10.19 and a beta of 0.73.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.97 by ($0.01). Gaming and Leisure Properties had a return on equity of 15.43% and a net margin of 46.32%.The firm had revenue of $394.90 million during the quarter, compared to analysts' expectations of $397.27 million. During the same quarter in the prior year, the firm earned $0.94 EPS. The firm's revenue was up 3.8% compared to the same quarter last year. Gaming and Leisure Properties has set its FY 2025 guidance at 3.850-3.87 EPS. As a group, 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 business also recently disclosed 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. This represents a $3.12 annualized dividend and a dividend yield of 6.7%. The ex-dividend date was Friday, September 12th. Gaming and Leisure Properties's payout ratio is currently 120.93%.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 3,000 shares of the business'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 completion of the sale, the director owned 133,953 shares in the company, valued at approximately $6,234,172.62. The trade was a 2.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.

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