Presima Securities ULC Acquires 67,632 Shares of Gaming and Leisure Properties, Inc. $GLPI

Key Points

• Presima Securities ULC increased its holdings in Gaming and Leisure Properties, Inc. by 10.0% during the first quarter, now owning approximately 746,719 shares valued at around $38 million.
• Gaming and Leisure Properties reported earnings per share of $0.96, missing the consensus estimate by $0.01, with quarterly revenue of $394.90 million.
• The company announced a quarterly dividend of $0.78 per share, representing a yield of 6.4%, with a payout ratio of 120.93%.

Presima Securities ULC raised its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 10.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 746,719 shares of the real estate investment trust's stock after buying an additional 67,632 shares during the period. Gaming and Leisure Properties comprises 8.5% of Presima Securities ULC's investment portfolio, making the stock its 3rd biggest position. Presima Securities ULC owned approximately 0.27% of Gaming and Leisure Properties worth $38,008,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Nuveen LLC acquired a new position in shares of Gaming and Leisure Properties during the 1st quarter worth approximately $151,723,000. Invesco Ltd. grew its stake in Gaming and Leisure Properties by 127.7% in the 1st quarter. Invesco Ltd. now owns 4,512,234 shares of the real estate investment trust's stock valued at $229,673,000 after acquiring an additional 2,530,463 shares during the period. Millennium Management LLC increased its holdings in Gaming and Leisure Properties by 294.6% in the 1st quarter. Millennium Management LLC now owns 966,925 shares of the real estate investment trust's stock worth $49,216,000 after acquiring an additional 721,861 shares in the last quarter. Wellington Management Group LLP increased its holdings in Gaming and Leisure Properties by 3.1% in the 1st quarter. Wellington Management Group LLP now owns 11,556,825 shares of the real estate investment trust's stock worth $588,242,000 after acquiring an additional 349,065 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Gaming and Leisure Properties during the first quarter worth $12,114,000. 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 Gaming and Leisure Properties stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $46.54, for a total transaction of $139,620.00. Following the transaction, the director owned 133,953 shares in the company, valued at $6,234,172.62. The trade was a 2.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barclays dropped 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 report on Wednesday, August 20th. Stifel Nicolaus cut Gaming and Leisure Properties from a "buy" rating to a "hold" rating and set a $51.25 price objective on the stock. in a report on Monday, July 21st. Scotiabank increased their target price on Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a "sector perform" rating in a report on Thursday, August 28th. Wells Fargo & Company decreased 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. Finally, Mizuho dropped their price target on Gaming and Leisure Properties from $53.00 to $48.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $52.69.

Gaming and Leisure Properties Price Performance

GLPI stock traded down $0.05 during mid-day trading on Wednesday, reaching $48.05. The company's stock had a trading volume of 1,587,998 shares, compared to its average volume of 1,923,213. The company has a current ratio of 7.39, a quick ratio of 7.39 and a debt-to-equity ratio of 1.41. The company's 50 day moving average is $47.18 and its two-hundred day moving average is $47.77. Gaming and Leisure Properties, Inc. has a fifty-two week low of $44.48 and a fifty-two week high of $52.54. The stock has a market cap of $13.60 billion, a PE ratio of 12.59, a P/E/G ratio of 10.46 and a beta of 0.73.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted 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 net margin of 46.32% and a return on equity of 15.43%. The company had revenue of $394.90 million during the quarter, compared to analysts' expectations of $397.27 million. During the same quarter last year, the company earned $0.94 earnings per share. Gaming and Leisure Properties's revenue for the quarter 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 research analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 6.5%. The ex-dividend date is Friday, September 12th. Gaming and Leisure Properties's dividend payout ratio is presently 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.