Pictet Asset Management Holding SA Trims Stock Position in Gaming and Leisure Properties, Inc. $GLPI

Key Points

• Pictet Asset Management cut its stake in Gaming and Leisure Properties by 22% in the first quarter, selling 30,874 shares and leaving it with 109,709 shares worth about $4.87 million.
• Several other institutional investors made only small adjustments to their GLPI positions, and the stock remains heavily held by institutions, with 91.14% owned by hedge funds and other institutional investors.
• GLPI reported stronger-than-expected quarterly results and raised its dividend to $0.82 per share, equal to a 7.5% yield, while analysts currently rate the stock a Moderate Buy with an average price target of $52.

Pictet Asset Management Holding SA decreased its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 22.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,709 shares of the real estate investment trust's stock after selling 30,874 shares during the period. Pictet Asset Management Holding SA's holdings in Gaming and Leisure Properties were worth $4,868,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GLPI. Colonial River Investments LLC lifted its position in Gaming and Leisure Properties by 2.1% in the fourth quarter. Colonial River Investments LLC now owns 10,893 shares of the real estate investment trust's stock valued at $487,000 after acquiring an additional 227 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of Gaming and Leisure Properties by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 63,319 shares of the real estate investment trust's stock worth $2,830,000 after purchasing an additional 237 shares during the last quarter. Kestra Private Wealth Services LLC increased its position in shares of Gaming and Leisure Properties by 0.9% during the third quarter. Kestra Private Wealth Services LLC now owns 27,307 shares of the real estate investment trust's stock worth $1,273,000 after purchasing an additional 245 shares in the last quarter. Gabelli Funds LLC lifted its holdings in shares of Gaming and Leisure Properties by 0.4% in the 4th quarter. Gabelli Funds LLC now owns 64,782 shares of the real estate investment trust's stock valued at $2,895,000 after purchasing an additional 250 shares during the last quarter. Finally, Pure Financial Advisors LLC lifted its holdings in shares of Gaming and Leisure Properties by 2.9% in the 4th quarter. Pure Financial Advisors LLC now owns 8,943 shares of the real estate investment trust's stock valued at $400,000 after purchasing an additional 255 shares during the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 3,000 shares of Gaming and Leisure Properties stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $48.32, for a total value of $144,960.00. Following the transaction, the director directly owned 127,429 shares in the company, valued at $6,157,369.28. This trade represents a 2.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.11% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on GLPI shares. Barclays raised their price target on Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 21st. Stifel Nicolaus set a $50.00 price objective on Gaming and Leisure Properties in a research note on Friday, April 24th. Scotiabank decreased their price objective on Gaming and Leisure Properties from $52.00 to $49.00 and set a "sector perform" rating for the company in a report on Thursday, June 18th. Mizuho raised their target price on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 11th. Finally, JPMorgan Chase & Co. cut their target price on shares of Gaming and Leisure Properties from $53.00 to $51.00 and set an "overweight" rating on the stock in a report on Tuesday, June 30th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $52.00.

Gaming and Leisure Properties Stock Performance

NASDAQ GLPI opened at $43.95 on Friday. The firm has a market cap of $12.46 billion, a P/E ratio of 13.95, a P/E/G ratio of 1.89 and a beta of 0.66. Gaming and Leisure Properties, Inc. has a 52-week low of $41.17 and a 52-week high of $49.95. The business's 50-day moving average price is $46.69 and its 200 day moving average price is $46.30. The company has a quick ratio of 6.29, a current ratio of 6.29 and a debt-to-equity ratio of 1.62.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The real estate investment trust reported $0.82 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $417.15 million. During the same period in the prior year, the business earned $0.96 EPS. The firm'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, equities research analysts expect that Gaming and Leisure Properties, Inc. will post 4.01 earnings per share for the current year.

Gaming and Leisure Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 7.5%. This is a boost from Gaming and Leisure Properties's previous quarterly dividend of $0.78. The ex-dividend date was Friday, June 12th. Gaming and Leisure Properties's dividend payout ratio (DPR) is currently 104.13%.

Gaming and Leisure Properties Profile

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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