Raymond James Financial Inc. Raises Holdings in Gaming and Leisure Properties, Inc. $GLPI

Key Points

• Raymond James Financial Inc. increased its stake in Gaming and Leisure Properties, Inc. by 9.3% during the 1st quarter, owning approximately 0.41% of the company worth $56.82 million as of its latest SEC filing.
• Several large investors, including Nuveen LLC and Invesco Ltd., also increased their investments in Gaming and Leisure Properties, indicating strong institutional interest with 91.14% of the stock owned by institutional investors.
• Gaming and Leisure Properties reported earnings of $0.96 per share, slightly missing analysts' expectations, with a 3.8% year-over-year revenue increase of $394.90 million for the quarter.

Raymond James Financial Inc. boosted its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,116,315 shares of the real estate investment trust's stock after purchasing an additional 94,973 shares during the quarter. Raymond James Financial Inc. owned approximately 0.41% of Gaming and Leisure Properties worth $56,820,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of GLPI. Nuveen LLC purchased a new stake in Gaming and Leisure Properties during the 1st quarter worth about $151,723,000. Invesco Ltd. increased its holdings in Gaming and Leisure Properties by 127.7% during the 1st quarter. Invesco Ltd. now owns 4,512,234 shares of the real estate investment trust's stock worth $229,673,000 after purchasing an additional 2,530,463 shares during the period. Northern Trust Corp increased its holdings in Gaming and Leisure Properties by 48.2% during the 4th quarter. Northern Trust Corp now owns 2,873,006 shares of the real estate investment trust's stock worth $138,364,000 after purchasing an additional 933,842 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Gaming and Leisure Properties during the 1st quarter worth about $12,114,000. Finally, Hsbc Holdings PLC increased its holdings in Gaming and Leisure Properties by 41.5% during the 4th quarter. Hsbc Holdings PLC now owns 800,089 shares of the real estate investment trust's stock worth $38,452,000 after purchasing an additional 234,473 shares during the period. Hedge funds and other institutional investors own 91.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GLPI shares. Macquarie dropped their price objective on Gaming and Leisure Properties from $60.00 to $59.00 and set an "outperform" rating on the stock in a report on Monday, July 28th. Royal Bank Of Canada dropped their price objective on Gaming and Leisure Properties from $54.00 to $53.00 and set an "outperform" rating on the stock in a report on Monday, July 28th. Wedbush set a $55.00 price objective on Gaming and Leisure Properties in a report on Monday, April 28th. Scotiabank dropped their price objective on Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating on the stock in a report on Monday, May 12th. Finally, Stifel Nicolaus downgraded 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. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $52.87.

Gaming and Leisure Properties Stock Up 1.1%

Shares of NASDAQ GLPI opened at $47.47 on Thursday. The stock has a market cap of $13.43 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 10.22 and a beta of 0.71. The company has a quick ratio of 7.39, a current ratio of 7.39 and a debt-to-equity ratio of 1.41. Gaming and Leisure Properties, Inc. has a 52-week low of $44.48 and a 52-week high of $52.60. The business has a 50-day moving average price of $46.82 and a 200 day moving average price of $47.87.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its 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). The firm had revenue of $394.90 million during the quarter, compared to analyst estimates of $397.27 million. Gaming and Leisure Properties had a net margin of 46.32% and a return on equity of 15.43%. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last 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. Equities research analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current year.

Insider Activity

In related news, Director E Scott Urdang sold 3,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $46.54, for a total value of $139,620.00. Following the completion of the sale, the director directly owned 133,953 shares of the company's stock, valued at $6,234,172.62. This represents a 2.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.26% of the stock is currently owned by company insiders.

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.

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.