QRG Capital Management Inc. Cuts Stock Holdings in Gaming and Leisure Properties, Inc. $GLPI

Key Points

• QRG Capital Management Inc. has reduced its holdings in Gaming and Leisure Properties, Inc. by 15.0% during the second quarter, bringing its total ownership to 137,303 shares valued at approximately $6.41 million.
• Multiple institutional investors have adjusted their stakes, with Cbre Investment Management increasing its position by 407.7%, now owning 110,654 shares worth about $5.63 million.
• Gaming and Leisure Properties recently declared a quarterly dividend of $0.78 per share, translating to an annualized dividend of $3.12 and a yield of 6.7%.

QRG Capital Management Inc. reduced its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 15.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 137,303 shares of the real estate investment trust's stock after selling 24,279 shares during the period. QRG Capital Management Inc.'s holdings in Gaming and Leisure Properties were worth $6,409,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Perigon Wealth Management LLC purchased a new position in shares of Gaming and Leisure Properties in the 1st quarter worth $217,000. Envestnet Asset Management Inc. grew its stake in shares of Gaming and Leisure Properties by 2.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 604,875 shares of the real estate investment trust's stock worth $30,788,000 after buying an additional 16,617 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC grew its stake in shares of Gaming and Leisure Properties by 407.7% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 110,654 shares of the real estate investment trust's stock worth $5,632,000 after buying an additional 88,858 shares in the last quarter. Assetmark Inc. grew its stake in shares of Gaming and Leisure Properties by 49.6% in the 1st quarter. Assetmark Inc. now owns 989 shares of the real estate investment trust's stock worth $50,000 after buying an additional 328 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Gaming and Leisure Properties by 210.9% in the 1st quarter. Farther Finance Advisors LLC now owns 2,083 shares of the real estate investment trust's stock worth $106,000 after buying an additional 1,413 shares in the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Macquarie dropped their price target on shares of Gaming and Leisure Properties from $60.00 to $59.00 and set an "outperform" rating for the company in a research note on Monday, July 28th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Gaming and Leisure Properties in a research note on Saturday, September 27th. Cantor Fitzgerald assumed coverage on shares of Gaming and Leisure Properties in a research note on Wednesday. They set a "neutral" rating and a $51.00 price target for the company. 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. Finally, Stifel Nicolaus cut 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 eight have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $52.71.

Insider Activity at Gaming and Leisure Properties

In other Gaming and Leisure Properties 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 sale, the director owned 133,953 shares of the company's stock, valued at approximately $6,234,172.62. The trade was a 2.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.26% of the stock is currently owned by company insiders.

Gaming and Leisure Properties Trading Up 0.6%

NASDAQ GLPI opened at $46.87 on Monday. 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 has a market cap of $13.26 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 10.19 and a beta of 0.74. The company has a 50 day moving average price of $46.97 and a 200 day moving average price of $47.36. Gaming and Leisure Properties, Inc. has a 52 week low of $44.48 and a 52 week high of $52.27.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $394.90 million for the quarter, compared to the consensus estimate of $397.27 million. Gaming and Leisure Properties had a return on equity of 15.43% and a net margin of 46.32%.The company's revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 EPS. Gaming and Leisure Properties has set its FY 2025 guidance at 3.850-3.87 EPS. As a group, sell-side analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid 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 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.

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