Sound Income Strategies LLC Buys 45,711 Shares of Gaming and Leisure Properties, Inc. $GLPI

Key Points

• Sound Income Strategies LLC increased its GLPI stake by 10.2%, buying 45,711 additional shares to hold 492,285 shares valued at approximately $18.8 million. Institutional investors collectively own 91.14% of the company.
• Analysts maintain a generally positive outlook, with GLPI receiving a “Moderate Buy” consensus rating and an average price target of $47.83, despite some recent target-price reductions.
• GLPI’s shares traded near $38.28, while the REIT continued paying a quarterly dividend of $0.82, equivalent to an annualized $3.28 payout and an approximately 8.6% dividend yield.

Sound Income Strategies LLC boosted its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 10.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 492,285 shares of the real estate investment trust's stock after purchasing an additional 45,711 shares during the quarter. Sound Income Strategies LLC owned about 0.17% of Gaming and Leisure Properties worth $18,835,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wedmont Private Capital acquired a new position in shares of Gaming and Leisure Properties in the 3rd quarter valued at $266,000. Apella Capital LLC grew its stake in shares of Gaming and Leisure Properties by 15.3% during the 3rd quarter. Apella Capital LLC now owns 6,805 shares of the real estate investment trust's stock valued at $257,000 after buying an additional 902 shares during the period. Elevation Wealth Partners LLC increased its holdings in shares of Gaming and Leisure Properties by 42.3% during the 3rd quarter. Elevation Wealth Partners LLC now owns 1,184 shares of the real estate investment trust's stock worth $45,000 after buying an additional 352 shares during the last quarter. Moody National Bank Trust Division increased its holdings in shares of Gaming and Leisure Properties by 24.4% during the 3rd quarter. Moody National Bank Trust Division now owns 20,463 shares of the real estate investment trust's stock worth $777,000 after buying an additional 4,008 shares during the last quarter. Finally, CX Institutional raised its position in shares of Gaming and Leisure Properties by 425.6% in the 3rd quarter. CX Institutional now owns 1,745 shares of the real estate investment trust's stock worth $66,000 after buying an additional 1,413 shares during the period. Institutional investors and hedge funds own 91.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Weiss Ratings cut Gaming and Leisure Properties from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday. Barclays dropped their price target on Gaming and Leisure Properties from $53.00 to $50.00 and set an "overweight" rating for the company in a research note on Wednesday, July 22nd. UBS Group set a $49.00 price objective on Gaming and Leisure Properties in a report on Thursday, June 18th. Citigroup reaffirmed a "market outperform" rating on shares of Gaming and Leisure Properties in a research note on Friday, October 2nd. Finally, Stifel Nicolaus decreased their target price on Gaming and Leisure Properties from $50.00 to $49.00 and set a "hold" rating for the company in a report on Friday, July 31st. Eight research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $47.83.

Insider Activity at Gaming and Leisure Properties

In related news, Director Earl C. Shanks bought 10,000 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The shares were acquired at an average cost of $42.24 per share, for a total transaction of $422,400.00. Following the acquisition, the director owned 107,259 shares in the company, valued at $4,530,620.16. This represents a 10.28% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.11% of the company's stock.

Gaming and Leisure Properties Trading Up 0.1%

Shares of GLPI stock traded up $0.02 during mid-day trading on Friday, reaching $38.28. The company's stock had a trading volume of 2,201,872 shares, compared to its average volume of 2,634,953. The company's 50 day simple moving average is $41.35 and its 200-day simple moving average is $44.37. Gaming and Leisure Properties, Inc. has a 12-month low of $37.33 and a 12-month high of $49.95. The company has a quick ratio of 4.74, a current ratio of 4.74 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $11.14 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 1.58 and a beta of 0.65.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its earnings results on Thursday, July 30th. The real estate investment trust reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Gaming and Leisure Properties had a net margin of 59.01% and a return on equity of 19.17%. The business had revenue of $430.52 million for the quarter, compared to analyst estimates of $428.51 million. During the same quarter in the previous year, the business posted $0.96 EPS. The business's quarterly revenue was up 9.0% on a year-over-year basis. Gaming and Leisure Properties has set its FY 2026 guidance at 4.100-4.120 EPS. On average, research analysts predict that Gaming and Leisure Properties, Inc. will post 4.03 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were paid a $0.82 dividend. The ex-dividend date was Friday, September 11th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 8.6%. Gaming and Leisure Properties's dividend payout ratio (DPR) is 96.19%.

Gaming and Leisure Properties Profile

Gaming and Leisure Properties, Inc NASDAQ: GLPI is a real estate investment trust that owns and leases gaming and entertainment properties. The company generally leases its properties to casino operators under long-term, triple-net lease agreements, under which tenants are typically responsible for property-level operating expenses, maintenance, insurance and taxes.

GLPI's portfolio primarily consists of casinos, racetracks and related facilities across the United States. Its tenants operate gaming, lodging, food and beverage, entertainment and other hospitality businesses, while GLPI focuses on owning the underlying real estate and managing its relationships with gaming operators.

The company was formed in 2013 through the separation of certain real estate assets from Penn National Gaming, now known as PENN Entertainment.

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